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TGI Friday's Prepares for Leadership Transition

Nick Shepherd plans to step down from his role as president and chief executive officer for TGI Friday's. As a result, the 50-year old casual dining chain will begin its search for Shepherd's replacement.

Shepherd will continue to actively lead the business through mid-October, according to a company release. In the event that TGI Friday's does not name Shepherd's success before his departure, John Antioco, chairman of the restaurant chain's board of directors, will serve as interim CEO at that time.