RCI Hospitality Holdings announced a leadership transition, appointing long‑time executive vice president Travis Reese as interim President and CEO and financial reporting director Albert Molina as interim CFO. The change follows the resignations of former CEO Eric Langan and CFO Bradley Chhay, who will remain on the board and continue to advise on strategic transactions and financial planning.
The appointments were made effective November 28, 2025, the same day the resignations were announced. Reese, who has served on the board since 1999, will focus on the company’s core nightclub and restaurant businesses, while Molina will oversee financial reporting and capital allocation. The move signals RCI’s intent to preserve its “Back to Basics” strategy while it searches for permanent leaders.
The leadership shift comes amid a broader legal crisis. In September 2025, Langan, Chhay and RCI were indicted on charges of criminal tax fraud and bribery. The indictment has eroded investor confidence and contributed to the executives’ departures, underscoring the need for stable governance during the transition.
RCI’s recent financial performance has been mixed. Q3 2025 earnings reported on August 11 showed earnings per share of $0.46, missing the consensus estimate of $1.24 by $0.78. Revenue of $71.15 million was slightly above expectations, but the company’s gross margin fell to 86.7% from the anticipated 87.8%. The miss reflects a combination of weaker demand in the Bombshells segment and higher operating costs.
Management has maintained its “Back to Basics” focus, emphasizing cost discipline, divestiture of underperforming locations, and strategic acquisitions. The company’s recent purchase of 821,000 shares from ADW Capital Partners for $30 million demonstrates its commitment to share buybacks as part of its capital allocation plan. Analysts note that the leadership change and legal challenges will test RCI’s ability to execute this strategy and restore confidence.
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