Renowned restauranteur Danny Meyer will step down from his role as chief executive officer of Union Square Hospitality Group, effective Sept. 6, 2022.

Chip Wade, current president and chief operating officer for USHG will become CEO at that time. Meyer, who founded USHG, will continue on as chairman of the multiconcept operator.

Wade joined USHG as president and COO in May of 2019 but his restaurant industry background spans more than 30 years. He spent 17 years in leadership roles with Red Lobster and Darden Restaurants. Wade also held leadership positions with Legal Sea Foods and Carlson Restaurants Worldwide.

“When Chip joined us three years ago, our hope was that he'd one day be prepared to succeed me as USHG's leader, and that day has unquestionably arrived,” Meyer said in a statement. “He is an exemplary operational leader, wholly dedicated to our team members and committed to their professional and personal growth. We've partnered together and navigated the business through an incredibly challenging period emerging healthier than ever. This is the ideal time for me to hand Chip the baton.”

In his role as executive chairman, Meyer will continue to collaborate with the USHG leadership team on the creation of new restaurant concepts, consult on innovation and expansion strategies, and remain an active advisor and mentor to the USHG culinary, beverage and restaurant management leadership teams, per a release. Meyer will also continue as managing partner of Enlightened Hospitality Investments and board chairman of USHGAC. He also serves as board chairman of Shake Shack.