DALLAS — Ray Blanchette is stepping down as chief executive officer of TGI Fridays. Rohit Manocha, chairman of the board and co-founder of TriArtisan Capital Advisors, will step in as interim CEO.

Blanchette was CEO for the past five years.

“We are deeply grateful for Blanchette’s contributions over the last several years,” Manocha said. “We wish him the best of luck in his future endeavors, and we look forward to building on the legacy he has left to take Fridays to new heights. TGI Fridays is beginning a new phase of revitalization, innovation, and value creation. We are turning our focus toward growth and creating relevance with today’s consumers because we believe there is significant upside potential.”

TriArtisan serves as TGI Fridays lead investor and has extensive holdings in the restaurant and hospitality industry, including P.F. Chang’s, Hooters, and Creating Culinary Communities.