P.F. Chang’s China Bistro Inc. is saying goodbye to the Bistro’s chief operating officer, Richard Tasman, at a time when the chain is hurting from losing customers to other upscale casual dining competitors.
P.F. Chang’s, which also owns the quick casual Pei Wei chain, is struggling to grow its sales while other restaurants are rebounding from the recession. Shares of P.F. Chang’s have fallen approximately 32% over the past 52 weeks while the overall market has risen. The company’s shares recently rose 3.6% to $31.75.
Tasman became chief operating officer of the Bistro in July 2007, just as the economy took a turn for the worse and so did P.F. Chang’s growth story.