Carrols Restaurant Group, Inc. Appoints Paulo Pena as Chief Executive Officer
February 22 2022 - 8:00AM
Carrols Restaurant Group, Inc. (“Carrols” or the “Company”)
(Nasdaq: TAST) announced today that its Board of Directors has
named Paulo Pena as the Company’s new Chief Executive Officer and
President, effective April 1, 2022. Mr. Pena succeeds Daniel T.
Accordino, 71, who, as previously announced, will retire at that
time from his role as Chairman, Chief Executive Officer and
President after a 50-year career with the Company. Mr. Accordino
will remain available to assist Mr. Pena in an advisory capacity to
ensure a successful transition of leadership. David S. Harris, a
member of the Carrols Board since 2012 and its Lead Independent
Director, will assume the role of Non-Executive Chairman effective
April 1, 2022.
Paulo Pena, 49, brings to Carrols over 20 years
of operations and finance experience in the hospitality, quick
service restaurant and beverage industries. Mr. Pena currently
serves as Chief Operating Officer of Selina, one of the world’s
fastest growing hospitality brands, where he was responsible for
overall hotel operations for the company’s portfolio of over 95
properties.
Prior to joining Selina, Mr. Pena was a Vice
President at McDonald’s USA, where, among other things, he oversaw
operations at over 800 McDonald’s-owned locations in the United
States. He also worked on remodels, acquisitions and divestitures
of over 200 company-owned restaurants, oversaw the opening of
McDonald’s global flagship restaurant in New York’s Times Square,
and helped advance customer service initiatives, menu enhancements
and digital innovation at the company.
Prior to working at McDonald’s, Mr. Pena served
as President and Managing Director, Latin America and Caribbean
Region, at the Wyndham Hotel Group, where he was responsible for
overseeing a portfolio of over 200 franchised and managed hotels in
20 countries across 14 brands. He also spent 10 years at Starwood
Hotels and Resorts Worldwide, working on strategic partnerships,
operations and as a member of the corporate team. Mr. Pena’s early
career was at The Coca-Cola Company and Ernst & Young LLP where
he worked in various international finance roles.
Mr. Pena received an MBA from Harvard Business
School and a Bachelor of Business in Finance and Accounting from
the University of Technology in Sydney, Australia. Born in Uruguay,
Mr. Pena grew up in Australia and moved to the United States 20
years ago.
“We are excited to be welcoming Paulo as our new
Chief Executive Officer,” said Mr. Harris. “The Board conducted a
comprehensive search process and had numerous, highly qualified
candidates to consider. We are confident that we have identified an
exemplary individual with the skills and experience necessary to be
a strong and effective leader of Carrols.”
“On behalf of the Board, management team and our
over 26,000 employees, I would like to express our deep
appreciation to Dan for his dedicated service to Carrols over the
past 50 years,” Mr. Harris added. “Dan’s extensive contributions to
the Company have helped transform Carrols from a regional quick
service restaurant chain into one of the largest restaurant
franchisees in the United States. Dan has left an indelible mark on
Carrols from which we will continue to benefit for many years to
come. We wish him all the best in his retirement.”
“It has been my absolute privilege to have
worked at Carrols for my entire career, and I offer my sincere
thanks and appreciation to all my colleagues, past and present,
whose efforts and dedication have allowed us to achieve so much
together. I am confident in the future of Carrols, which is well
positioned under the next generation of leadership. Over the coming
weeks, I intend to work closely with Paulo to help ensure a smooth
transition,” said Mr. Accordino.
Mr. Pena stated, “I am honored to have been
named the next Chief Executive Officer of Carrols and am grateful
for the confidence that the Board has placed in me. I look forward
to working closely with the Board and Carrols’ talented management
team to drive improved financial results and value for our
stockholders, employees and other stakeholders.”
Korn Ferry, a leading executive search firm,
assisted the Carrols Board with the search.
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 1,028
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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