Fiesta Restaurant Group, Inc. Appoints Dirk Montgomery as Interim CEO; Rich Stockinger Steps Down
December 08 2022 - 5:22PM
Business Wire
Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company")
(NASDAQ: FRGI), parent company of the Pollo Tropical® brand, today
announced that Richard “Rich” Stockinger has stepped down from his
role as the Company’s Chief Executive Officer and President to
pursue other interests, effective immediately. Dirk Montgomery,
Fiesta’s Chief Financial Officer since 2019, will serve as interim
CEO while the Company searches for a permanent chief executive.
“We thank Rich for his nearly six years of service with Fiesta,”
said Stacey Rauch, who chairs the Company’s board. “He built a
superb senior team and skillfully led the Company through an era of
difficult challenges. We wish him the best.”
Richard Stockinger said, “It has been my great privilege to work
with an exceptionally dedicated and skilled team of executives and
restaurant operations leaders who drove real progress during my
time with Fiesta. I will treasure the friendships I established,
and deeply appreciate the support provided by the Board of
Directors. I wish the Fiesta team the best of luck.”
Dirk Montgomery has many years of experience helping major
restaurant chains strengthen their accounting, finance, technology,
and global supply chains. He served as CFO and head of supply chain
at Hooters International, a billion-dollar chain of 425 restaurants
in 25 countries, and at Bloomin’ Brands, which operates Outback
Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, and Fleming’s
Prime Steakhouse. He also previously served as a retail and
consumer products executive at companies such as L Brands and Sara
Lee Corporation, where he served as both a functional and business
unit leader.
“Dirk has the experience, knowledge and capabilities to step
into the role without missing a beat,” said Ms. Rauch. “He
understands our culture, our industry, the challenges we face, and
the opportunities that await us. The Board is confident his
leadership will further enable the Company to accelerate
growth.”
Dirk Montgomery added, “I am excited to serve in the role as
interim CEO, and look forward to accelerating growth from the
strong foundation built under Rich Stockinger’s leadership.”
Fiesta appointed its controller, Tyler Yoesting, to serve as
Chief Accounting Officer and acting CFO, effective immediately.
Before joining the Company in 2019, Mr. Yoesting spent more than a
decade in the audit practice of KPMG, a leading professional
services and accounting firm.
About Fiesta Restaurant Group, Inc.
Fiesta Restaurant Group, Inc., owns, operates and franchises the
Pollo Tropical® restaurant brand and prior to August 16, 2021,
owned, operated, and franchised the Taco Cabana® restaurant brand.
The brands specialize in the operation of fast casual/quick service
restaurants that offer distinct and unique flavors with broad
appeal at a compelling value. The brands feature fresh-made
cooking, drive-thru service and catering. For more information
about Fiesta Restaurant Group, Inc., visit the corporate website at
www.frgi.com.
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relating to future events or future performance, including any
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including, but not limited to, those discussed from time to time in
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including our Annual Report on Form 10-K and our quarterly reports
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version on businesswire.com: https://www.businesswire.com/news/home/20221208006003/en/
Investor Relations Contact: Raphael Gross 203-682-8253
investors@frgi.com
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