Carrols Restaurant Group, Inc. Announces Retirement of Chairman and CEO by June 30, 2022
September 23 2021 - 4:30PM
Carrols Restaurant Group, Inc. (“Carrols” or the “Company”)
(Nasdaq: TAST) announced today that Daniel T. Accordino, the
Company’s Chairman, Chief Executive Officer and President, will be
retiring as CEO and President by June 30, 2022. He will also be
stepping down as Chairman and as a member of the Board of Directors
at or prior to the effective time of his retirement. The Carrols
Board is conducting a comprehensive search to identify a new CEO
and is engaging a leading executive search firm to assist in the
process.
Mr. Accordino, 71, has been the Chief Executive
Officer of the Company since January 1, 2012 and Chairman of the
Board since January 1, 2015. An employee of the Company since 1972,
Mr. Accordino has served in a variety of senior leadership
positions, including as President since February 1993, Chief
Operating Officer from February 1993 to December 2011, and
Executive Vice President - Operations from December 1986 to
February 1993.
“With Carrols well positioned for continued
success, I believe now is the right time – both for me and Carrols
– to begin a transition to the next generation of leadership,”
stated Mr. Accordino. “I look forward to continuing to work with
the Board and our dedicated management team over the next nine
months to identify an exemplary leader for our business and ensure
a successful transition.”
“On behalf of the Board, I would like to thank
Dan for his 50 years of dedicated service to Carrols. Dan has been
instrumental in helping transform Carrols from a regional quick
service restaurant chain to the largest BURGER KING® franchisee in
the United States,” said David Harris, a member of the Carrols
Board. “The Board is committed to finding a world-class successor
for Dan and is grateful to have his continued leadership and
guidance throughout the succession planning and transition
process.”
About the Company
Carrols is one of the largest restaurant
franchisees in North America. It is the largest BURGER KING®
franchisee in the United States, currently operating 1,027 BURGER
KING® restaurants in 23 states as well as 65 POPEYES® restaurants
in seven states. Carrols has operated BURGER KING® restaurants
since 1976 and POPEYES® restaurants since 2019. For more
information, please visit the Company's website at
www.carrols.com.
Forward-Looking Statements
Except for the historical information contained
in this news release, the matters addressed are forward-looking
statements. Forward-looking statements, written, oral or otherwise
made, represent Carrols' expectation or belief concerning future
events. Without limiting the foregoing, these statements are often
identified by the words "may", "might", "believes", "thinks",
"anticipates", "plans", "expects", "intends" or similar
expressions. In addition, expressions of our strategies,
intentions, plans or guidance are also forward-looking statements.
Such statements reflect management's current views with respect to
future events and are subject to risks and uncertainties, both
known and unknown. You are cautioned not to place undue reliance on
these forward-looking statements as there are important factors
that could cause actual results to differ materially from those in
forward-looking statements, many of which are beyond our control.
Investors are referred to the full discussion of risks and
uncertainties, including without limitation the impact of COVID-19
on Carrols’ business, as included in Carrols' filings with the
Securities and Exchange Commission.
Investor Relations:Raphael
Gross203-682-8253investorrelations@carrols.com
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