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Nick Jones, the founder of private members’ club Soho House, has decided to step back from his role as chief executive after revealing he had been diagnosed with prostate cancer.
Jones, over the course of almost three decades as boss, has taken the club from a single location in London’s Soho district to a publicly listed company — Membership Collective Group — with 38 clubs worldwide. The group runs Soho Works, a co-working brand, and the luxury hotel brand The Ned.
Jones, who is cancer-free after receiving treatment following a diagnosis in June, will remain on the board in a founder role. Andrew Carnie, who previously served as global president after joining MCG in 2019, will replace Jones as chief executive.
Jones said he would be “a voice in the room” but would also focus on his “passions and skill sets”, including designing new houses.
“I went into hospitality because I love a room full of people having a good time.”
MCG’s share price has fallen from $14 at the time of its initial public offering in New York last year to $4.75 in pre-market trading on Wednesday.
The group’s third-quarter earnings before interest, taxes, depreciation and amortisation more than doubled to $20.2mn from a year earlier but missed analysts’ expectations.
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