Guzman Y Gomez chair Guy Russo cuts stake in $35.5m share sale
Guzman Y Gomez chair Guy Russo has sold 1.4 million shares in the Mexican-themed fast-food chain but insists he remains committed to the business.
Guzman Y Gomez chair Guy Russo has sold 1.4 million shares in the Mexican-themed fast-food chain but insists he remains committed to the business.
The $35.5 million sale reflected a “personal financial planning decision by Mr Russo”, the company told the market on Wednesday.
Mr Russo has been an investor in Guzman for about 17 years, having backed the business in its early stages well-before its ASX listing in 2024.
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By continuing you agree to our Terms and Privacy Policy.He has been a non-executive director on the Guzman board since 2009 and has served as its chair since 2018. Mr Russo retains 4.7 million shares in the company, equivalent to 77 per cent of his prior holding.
“GYG’s long-term strategy continues to have my full confidence, and my commitment as chair is unchanged,” Mr Russo said in a statement.
“I intend to remain as a significant long-term shareholder in GYG and am committed to ensuring the ongoing success of the business for many years to come.”
Guzman last week reaffirmed its full-year guidance after it reported a near-20 per cent sales growth in the first quarter.
