Carrols Restaurant Group, Inc. Announces the Passing of President and Chief Executive Officer Paulo A. Pena
January 03 2023 - 7:00AM
Carrols Restaurant Group, Inc. (“Carrols” or the “Company”)
(Nasdaq: TAST) today announced the passing of Paulo A. Pena who
died unexpectedly in the hospital on Saturday, December 31, 2022.
Mr. Pena, who had served as the Company’s President and Chief
Executive Officer since April 1, 2022, was 50 years old.
David Harris, the Chairman of the Board of
Directors of Carrols, said, “We are deeply saddened by the untimely
passing of our friend and colleague Paulo Pena. While his time at
Carrols was relatively short, his impact on the Company and its
business was undeniable. Paulo was a visionary leader who created a
culture of operational excellence and put the customer at the
forefront of everything we do. While Paulo’s drive, energy and
strategic insights will be greatly missed, I am confident that
Carrols will continue to build upon the progress we have made under
his leadership as we seek to capture the immense opportunities
ahead of us. On behalf of the entire Carrols organization, I would
like to extend our heartfelt condolences to Paulo’s wife and
family. Our thoughts and prayers are with them, as well as all
whose lives he touched.”
Pursuant to the Company’s CEO Succession Plan,
the Board of Directors has appointed Anthony E. Hull, Carrols’ Vice
President, Chief Financial Officer and Treasurer, to serve as
Interim President and CEO until a successor has been identified.
Mr. Hull will continue serving as Chief Financial Officer and
Treasurer of the Company while serving as Interim President and
CEO. The Board will be initiating a search for a successor
shortly.
Chief Restaurant Officer
Appointment
The Company also announced the appointment of
Joseph Hoffman as Chief Restaurant Officer, a new executive level
position created to oversee Carrols’ restaurant operations,
effective January 1, 2023. In his new role, which was approved by
the Board on December 20, 2022, Mr. Hoffman will report directly to
Interim President and CEO Anthony Hull.
Mr. Hoffman served as Senior Vice President,
Operations of Carrols from May 2022 to December 31, 2022, as a
Division Vice President, Operations from June 2017 until April
2022, and as a Vice President, Region Director from June 1997 until
May 2017. Mr. Hoffman has been an employee of Carrols since 1993,
when he joined the Company as a District Manager.
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 1,022
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 as included in Carrols' filings with the Securities
and Exchange Commission.
Investor Relations:Jeff
Priester332-242-4370investorrelations@carrols.com
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