DALLAS, TX — Fogo de Chão, the world-renowned experiential dining brand rooted in the centuries-old Southern Brazilian cooking technique of churrasco, has officially announced a pivotal transition within its executive leadership team. Daniel Duran, a seasoned finance executive with a robust background in both the restaurant and retail sectors, has been named the company’s next Chief Financial Officer.

Duran is set to assume the mantle on July 20, 2026, succeeding Tony Laday, who announced his retirement in April 2024. Laday’s departure follows a distinguished twelve-year tenure during which he helped steer the brand through significant global expansion and a high-profile transition in ownership. To ensure a seamless handover of fiscal responsibilities, Laday will remain with the organization in an advisory capacity through the transition period.

The appointment comes at a critical juncture for Fogo de Chão as it continues to scale its international footprint, currently operating 122 restaurants across the globe. The leadership change signals a continued emphasis on data-driven decision-making and the integration of advanced financial technologies into the brand’s operational DNA.

Chronology of Leadership Transition

The roadmap for this leadership change has been meticulously planned to maintain organizational stability. The timeline of the succession is as follows:

• April 2024: Tony Laday officially announces his intention to retire after more than a decade of service as CFO. Under his watch, Fogo de Chão evolved from a niche Brazilian steakhouse into a dominant global player in the upscale dining category.
• November 2025: Daniel Duran joins Fogo de Chão as Senior Vice President of Financial Planning & Analysis (FP&A) and Investor Relations. His arrival was viewed as a strategic "onboarding" phase, allowing him to immerse himself in the brand’s unique culture and operational complexities.
• 2025 – Early 2026: Duran spearheads initiatives to enhance the company’s business analytics and AI-driven finance functions, proving his mettle to the executive board and CEO Barry McGowan.
• July 20, 2026: Duran will officially take the helm as Chief Financial Officer, assuming full oversight of the company’s financial strategy, accounting, treasury, tax, and investor relations.
• Post-July 2026: Tony Laday will transition into an advisory role, providing institutional knowledge and strategic counsel to Duran and the board to finalize the transition.

The Profile of Daniel Duran: A Fusion of Retail and Hospitality

Daniel Duran’s elevation to the CFO role is not merely a promotion but a strategic alignment of his multi-industry expertise with Fogo de Chão’s future goals. With over 15 years of experience, Duran brings a nuanced understanding of how consumer behavior intersects with financial performance.

Before joining Fogo de Chão, Duran held senior finance leadership positions at BJ’s Restaurants, a prominent player in the casual dining space, and Hot Topic, a major retail brand. This dual-sector experience is particularly valuable in the current economic climate, where "eatertainment" and experiential retail are merging. At BJ’s, Duran was instrumental in supporting strategic planning and operational growth, skills that are directly transferable to Fogo’s aggressive expansion strategy.

During his time as SVP at Fogo de Chão, Duran was credited with:

1. Strengthening FP&A Capabilities: Implementing more rigorous forecasting models that account for global supply chain volatility.
2. Enhancing Data-Driven Decisions: Utilizing guest analytics to optimize menu pricing and labor allocation.
3. Investor Relations: Managing communications with stakeholders, particularly important following the brand’s acquisition by Bain Capital in 2023.

Supporting Data: The Fogo de Chão Global Footprint

To understand the weight of this appointment, one must look at the sheer scale of the enterprise Duran will now oversee. Founded in 1979 in Porto Alegre, Brazil, Fogo de Chão has successfully exported the "Gaucho" way of life to the world.

Key Statistics:

• Total Locations: 122 restaurants globally.
• Market Presence: Major hubs include the United States, Brazil, Mexico, and the Middle East.
• Ownership: Acquired by Bain Capital in 2023, a move that provided the capital necessary for an accelerated growth trajectory.
• Diversification: Beyond the traditional dining room, the brand has expanded into "Bar Fogo" concepts, butchery services, and specialized catering, diversifying its revenue streams.

The financial organization Duran inherits is one that has remained resilient despite industry-wide challenges, including rising food costs and labor shortages. The company’s ability to maintain high margins while offering a premium, all-you-can-eat experience is a testament to the fiscal architecture built by his predecessor, Tony Laday.

Official Responses: A Vote of Confidence

The transition has been met with high praise from Fogo de Chão’s top brass. Barry McGowan, Chief Executive Officer, emphasized Duran’s cultural fit and strategic foresight.

"Daniel is an exceptional leader who has earned the trust and respect of our team through his strategic mindset, collaborative approach, and commitment to our culture," said McGowan. "Since joining Fogo, he has quickly become a valued partner to our leadership team, helping us make smarter decisions that position the business for long-term success. As we continue expanding the Fogo brand, I have complete confidence in Daniel’s ability to lead our financial organization, AI finance function, and help shape our next growth chapter."

In his own statement, Daniel Duran expressed a commitment to the brand’s heritage while looking toward a technologically advanced future.

"I’m honored to step into this role and grateful for the opportunity to continue building on the strong financial foundation that Tony helped establish," Duran remarked. "Fogo is a remarkable brand with tremendous momentum, an incredible culture, and a talented team. I look forward to partnering across the organization to support our continued growth while staying true to what makes Fogo special."

CEO McGowan also took a moment to honor the outgoing CFO: "We are grateful to Tony for his 12+ years of outstanding service to this company. He will be greatly missed, and we wish him the best in his retirement."

Strategic Implications: AI and the Future of Fine Dining

One of the most notable aspects of Duran’s new mandate is the oversight of the "AI finance function." This highlights a broader trend in the restaurant industry where traditional accounting is being augmented by artificial intelligence to predict everything from beef prices to foot traffic.

1. The Role of AI in Finance

As CFO, Duran will likely use AI to refine Fogo’s "just-in-time" supply chain for its signature cuts of meat. In a high-volume churrascaria, waste reduction is the key to profitability. AI-driven predictive analytics can help managers anticipate busy periods with greater accuracy, ensuring that the right amount of food is prepared, thereby protecting margins.

2. Global Expansion and Real Estate

With 122 locations, Fogo de Chão is far from its ceiling. Duran’s background in retail strategy (via Hot Topic) will be vital as the brand explores non-traditional real estate, such as high-end shopping centers, airports, and flagship international developments. Managing the capital expenditure (CapEx) for these builds while maintaining a healthy balance sheet will be his primary challenge.

3. Maintaining the "Gaucho" Culture

Unlike many corporate restaurant chains, Fogo de Chão relies heavily on the "Gaucho" culture—highly trained servers who are also experts in butchery and grilling. From a financial perspective, this requires a unique approach to labor costs and training investments. Duran’s challenge will be to find efficiencies without compromising the authentic service that defines the brand.

4. Navigating Private Equity Expectations

Operating under the ownership of Bain Capital brings a specific set of expectations regarding ROI and exit strategies. Duran’s experience in Investor Relations makes him the ideal liaison between the operational side of the restaurant and the financial expectations of one of the world’s leading private investment firms.

Conclusion: A New Era of Fiscal Stewardship

The promotion of Daniel Duran to Chief Financial Officer marks the beginning of a new era for Fogo de Chão. By choosing an internal candidate who has already demonstrated a deep understanding of the brand’s "AI finance" future, the company is doubling down on its commitment to modernizing the steakhouse experience.

As Tony Laday prepares to pass the torch in 2026, he leaves behind a legacy of growth and stability. Daniel Duran now faces the task of taking that foundation and building upon it a global empire that remains as relevant in a digital-first economy as it was in the fields of Southern Brazil nearly half a century ago. For Fogo de Chão, the fire is still burning bright, and with Duran at the financial helm, the brand appears well-positioned to feast on the opportunities of the coming decade.