Soho House Founder to Retire From CEO Role; Company Cutting Back Growth Ambitions

Nick Jones said on Wednesday that he would step down from being CEO of Membership Collective Group nearly three decades since he founded the original Soho House that eventually led to the creation of the public company and owner of the Soho House chain.

Andrew Carnie, president of Membership Collective Group, will succeed Jones as CEO.

Jones battled prostate cancer earlier this year successfully but said he now wants a change of life priorities.

On Wednesday the company cut its guidance for this year's adjusted earnings from between $70 million and $80 million to between $55 million and $60 million. The co