Boston — Toast, the all-in-one digital technology platform built for restaurants, has promoted Aman Narang to CEO, effective January 1, 2024. Narang has served as Toast’s co-president since December 2012 and chief operating officer since June 2021. He will take over as CEO from Chris Comparato, who has served as CEO since February 2015. Both Comparato and Narang will remain on the board.
Since co-founding the company in his basement in 2011 alongside Steve Fredette and Jonathan Grimm, Narang has been in instrumental leadership roles across the company as it scaled. Responsible for sales, marketing and business development in Toast’s early years, his role expanded over time to include the customer success organization, the fintech line of business, operations and other critical functions and key initiatives. Prior to Toast, Narang worked in product management at Endeca, now part of Oracle.
“Aman is the ideal choice to lead Toast into its next era of growth,” says Chris Comparato, CEO of Toast. “Aman knows Toast better than anyone, he knows the restaurant community, he is passionate about our customers, and he has the right ‘recipe’ of experience and a growth mindset. I have worked side-by-side with Aman since I joined Toast in 2015 and I am delighted to be transitioning the CEO role to him and continuing to support Toast as a board member.”
During Comparato’s tenure as CEO, notable achievements include: growing Toast’s customer base to approximately 93,000 restaurant locations; taking the company public in 2021; growing from 50 to 4,500 employees globally; exceeding $1 billion in ARR3; transforming Toast into a multi-product company; expanding into the enterprise segment and international markets; and navigating the COVID-19 pandemic.
“The board extends its deepest gratitude to Chris for his 9 years of leadership and results during a transformational time for Toast,” says Mark Hawkins, lead independent director and former president and CFO of Salesforce. “After a thoughtful succession planning process, the board is confident that Aman is the leader who will continue to propel Toast forward. He will be a dynamic, focused founder-CEO surrounded by an outstanding team and we look forward to working with him in this new capacity.”
Effective January 1, 2024, Hawkins will become chairman of the Toast board of directors.
Toast is a cloud-based, all-in-one digital technology platform purpose-built for the entire restaurant community. Toast provides a single platform of software as a service (SaaS) products and financial technology solutions that give restaurants everything they need to run their business across point of sale, operations, digital ordering and delivery, marketing and loyalty, and team management. By serving as the restaurant operating system across dine-in, takeout and delivery channels, Toast helps restaurants streamline operations, increase revenue and deliver amazing guest experiences. For more information, visit www.toasttab.com.
SOURCE: Toast