Here's how Rob Coombe's banking background will benefit QSRH
The ex-banking exec could be what the group needs.
Over the weekend, news broke that Rob Coombe has been appointed the new CEO of Quick Service Restaurant Holdings, a wholly Australian-owned franchise operator of three chicken brands, namely Red Rooster, Chicken Treat and Oporto.
Coombe replaces Mark Bayliss after just roughly a year at the helm, and will oversee more than 500 stores combined from its three chicken food chains.
Synergies from banking experience
Prior to his appointment, Coombe was Westpac's retail and business banking head and a veteran of the financial services industry for more than 30 years.
While Coombe’s lack of direct experience in the QSR industry might be seen as a handicap, what he seems to bring to the table is a drive for innovation and customer service – two qualities that could help QSRH capture more market share amid a very competitive fastfood market.
In Westpac, Coombe led the development of the industry-leading products wealth and insurance products such as Super for Life. Coombe’s knack for innovation should help QSRH develop attractive new products and compelling offers, as its Chicken Treat and Red Rooster brands position themselves as value restaurants.
In May, Chicken Treat launched 3 burger varieties as part of its new Double Double Value Burger range priced at $4.95 each, while Red Rooster introduced $2 Value’s Back chicken cheeseburgers earlier this year.
Coombe led the bank’s retail and business banking division, a role in which he shined with co-executives praising his passion to serve customer needs to acquire and retain their loyalty. This will come in handy as QSRH seeks to increase its store count nationally.
Oporto opened its first store in Perth in December 2012 with plans to open up to a total of 10 stores by the end of 2013 in an expansion strategy focused on the Western Australian region.
Coombe has also been known to foster a high-performance culture, which he has said in past interviews is essential for any business to compete in a competitive environments.
Australian QSR brands have been struggling with the spurt of new restaurants vying for a much constricted dining budget as the economy remains in cautionary mode, so Coombe’s leadership should help his three chicken franchises ride out the rough competition.
