GEN Restaurant Group, Inc. Appoints David Park to its Board of Directors

Rhea-AI Summary

GEN Restaurant Group, Inc. (Nasdaq: GENK), owner of GEN Korean BBQ, has appointed David Park to its board of directors and audit committee, effective July 24, 2024. This expansion brings the board to five total directors, with three serving independently. Park, founder and CIO of Alpha Park Partners, brings over 20 years of capital markets and M&A experience to the role. He has held senior positions at firms like Archegos Capital, Tiger Asia, and Goldman Sachs. GEN's Co-CEO and Board Chair, David Kim, welcomed Park's expertise as the company navigates public markets and executes its growth strategy. Park expressed excitement about joining GEN at this inflection point, citing the company's plan to double its footprint in the next two years and create long-term shareholder value.

Positive

• Appointment of David Park brings over 20 years of capital markets and M&A experience to the board
• Expansion of board to five directors with three serving independently strengthens corporate governance
• Company plans to double its footprint in the next two years, indicating strong growth strategy

Negative

• None.

News Market Reaction

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-0.63% News Effect

On the day this news was published, GENK declined 0.63%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

CERRITOS, Calif., July 25, 2024 (GLOBE NEWSWIRE) -- GEN Restaurant Group, Inc. (“GEN” or the “Company”) (Nasdaq: GENK), owner of GEN Korean BBQ, a fast-growing casual dining concept with an extensive menu and signature “grill at your table” experience, has appointed David Park to the board of directors and to serve on the audit committee of the board, effective July 24, 2024. With Mr. Park’s addition, GEN has expanded the board to five total directors with three serving independently.

Mr. Park brings to the board more than two decades of experience in the capital markets and extensive M&A experience. Currently, Mr. Park is the founder and chief investment officer of Alpha Park Partners, a long-term oriented investment fund based in New York. He has held a variety of senior roles analyzing both public equity investments and private equity M&A transactions for notable firms, including Archegos Capital, Tiger Asia, Rockwood Capital, AEW Capital, and Maverick Capital, as well as previously working in the investment banking division of Goldman Sachs. Mr. Park holds an MBA from The Wharton School of the University of Pennsylvania.

“I’m pleased to have Dave, a seasoned capital markets practitioner with M&A experience, join GEN’s board of directors,” said GEN’s Co-CEO and Chair of the Board David Kim. “As we continue to navigate the capital markets as a public company and execute upon our growth strategy to expand our footprint, we believe Dave’s significant experience in both of these areas will help guide our decision making. On behalf of our entire board, we welcome Dave to the team.”

Mr. Park commented on his appointment, “GEN has promising momentum on its side as the team looks to double the Company’s footprint in the next two years and create durable long-term value for shareholders. I have spent the majority of my entire career analyzing public equity investments, and I believe my expertise will be highly valuable to the board on this journey as a public company. I’m excited to be joining the board at this unique inflection point and look forward to providing my support as the Company capitalizes on the significant growth opportunities ahead.”

About GEN Restaurant Group, Inc.
​​GEN Korean BBQ is one of the largest Asian casual dining restaurant concepts in the United States. Founded in 2011 by two Korean immigrants in Los Angeles, the brand has now grown to 40 company-owned locations where guests serve as their own chefs, preparing meals on embedded grills in the center of each table. The extensive menu consists of traditional Korean and Korean-American food, including high-quality meats, poultry, seafood and mixed vegetables. With its unique culinary experience alongside its modern décor and lively atmosphere, GEN Korean BBQ delivers an engaging and interactive dining experience that appeals to a vast segment of the population. For more information, visit GenKoreanBBQ.com and follow the brand on Facebook and Instagram.

Investor Relations Contact:
Cody Slach and Cody Cree
Gateway Group, Inc.
1-949-574-3860
GENK@gateway-grp.com

Media Relations Contact:
Zach Kadletz and Anna Rutter
Gateway Group, Inc.
1-949-574-3860
GENK@gateway-grp.com

FAQ

Who is David Park and why was he appointed to GEN Restaurant Group's board?

David Park is the founder and CIO of Alpha Park Partners, with over 20 years of experience in capital markets and M&A. He was appointed to GEN Restaurant Group's board to provide expertise as the company navigates public markets and executes its growth strategy.

How many directors are now on GEN Restaurant Group's (GENK) board after David Park's appointment?

After David Park's appointment on July 24, 2024, GEN Restaurant Group's board expanded to five total directors, with three serving independently.

What is GEN Restaurant Group's (GENK) growth plan according to the press release?

According to the press release, GEN Restaurant Group (GENK) plans to double its footprint in the next two years, indicating a significant growth strategy for the company.

What specific committee will David Park serve on within GEN Restaurant Group's (GENK) board?

David Park will serve on the audit committee of GEN Restaurant Group's (GENK) board of directors.