Red Robin Announces Addition of Tom G. Conforti, G.J. Hart and David A. Pace to Board of Directors
August 06 2019 - 4:15PM
Business Wire
Three New Highly Qualified, Independent
Directors Bring Significant Restaurant, Consumer and Retail
Expertise and Track Record of Creating Value for Shareholders
Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) (“Red Robin” or
the “Company”) today announced it has appointed Tom G. Conforti,
G.J. Hart and David A. Pace as new independent directors, effective
immediately. The appointments were made after a search by the
Board’s Nominating & Governance Committee with the assistance
of The Elliot Group, a leading executive search firm in the
restaurant industry. As part of this board refresh, Pattye Moore,
Board Chair and interim Chief Executive Officer, will retire from
the Board after a CEO transition, and Stuart Oran has decided not
to stand for re-election at the 2020 Annual Meeting of
Shareholders.
“We are pleased to welcome three highly experienced and seasoned
industry veterans as new independent directors on the Red Robin
Board,” said Ms. Moore, Board Chair and interim Chief Executive
Officer. “The Board has been engaged in a process to identify new
directors who would bring additional skills and expertise to
enhance Red Robin’s opportunities and success. Tom, G.J. and David
each bring outstanding track records of significant growth and
value creation in the restaurant, food service and hospitality
industries. We are confident their experience and expertise will be
valuable assets to Red Robin as we execute on our strategic
priorities and continue the Board's efforts to create value for our
shareholders.”
Today’s new director appointments are:
- Tom Conforti, an accomplished executive with more than
three decades of experience in financial, strategic and operational
roles across multiple industries including restaurant, retail,
consumer and hospitality. He most recently served as Executive Vice
President and Chief Financial Officer for Wyndham Worldwide from
2009 to 2017, where he had direct responsibility for all finance,
technology, real estate, and purchasing functions. During that
time, he helped lead successful changes to the company’s capital
allocation strategy, and the company delivered a total shareholder
return of over 700%. Prior to that, he served as CFO for
IHOP/Dinequity from 2002 to 2008, where he led the purchase of
Applebee’s and a change in IHOP’s franchising model. Earlier in his
career, Mr. Conforti held leadership positions at The Walt Disney
Company and KB Home, as well as a number of roles at Pepsico.
- G.J. Hart, a seasoned food and beverage executive with
nearly 35 years in the industry and a strong track record of
driving growth and innovation. Since 2018, he has served as the
Chief Executive Officer of Torchy’s Tacos, a privately-held
fast-casual restaurant concept with more than 60 locations in
Texas, Oklahoma, and Colorado. He was previously the Executive
Chairman and Chief Executive Officer of California Pizza Kitchen,
where he was responsible for its “Next Chapter” of growth with a
program that infused a fresh, contemporary look, innovative menu,
world-class service model and generated higher per store average
sales and profitability. From 2000 to 2011, Mr. Hart served as
President of Texas Roadhouse Holdings, LLC and as Chief Executive
Officer from 2004 to 2011, where he oversaw unprecedented growth
and expanded the business from 60 locations to over 450 restaurants
in 49 states and two international markets, while increasing
revenues from $63 million to over $1 billion. Earlier in his
career, Mr. Hart held leadership positions at TriFoods
International, New Zealand Lamb Company and Shenandoah Valley
Poultry, among others.
- David A. Pace, who brings more than 30 years of
leadership experience in a range of industries including food and
beverage retail, consumer products, entertainment and ecommerce.
Most recently, from 2016 to 2018, he served as Chief Executive
Officer of Jamba Juice, Inc., where he led the brand through a
highly successful repositioning and tripled profit performance.
Prior to that, he served as President of Carrabba’s Italian Grill,
from 2014 to 2016, where he oversaw significant margin improvement
and record profits. From 2010 to 2014, Mr. Pace served as the
Executive Vice President and Chief Resource Officer at Bloomin’
Brands, the parent company of Carraba’s Italian Grill, where he was
responsible for real estate development and human capital
deployment for $4.1 billion across approximately 1,500 restaurants,
100,000 team members and five brands. Earlier in his career, Mr.
Pace held various leadership positions at Starbucks and YUM!
Brands, among others.
Red Robin also noted it is continuing to work closely with The
Elliot Group in its search for a new CEO and expects to make an
announcement in the near-term.
About Red Robin
Red Robin Gourmet Burgers, Inc. (www.redrobin.com), a casual
dining restaurant chain founded in 1969 that operates through its
wholly-owned subsidiary, Red Robin International, Inc., and under
the trade name Red Robin Gourmet Burgers and Brews, is the Gourmet
Burger Authority™, famous for serving more than two dozen
craveable, high-quality burgers with Bottomless Steak Fries® in a
fun environment welcoming to Guests of all ages. Whether a family
dining with kids, adults grabbing a drink at the bar, or teens
enjoying a meal, Red Robin offers an unparalleled experience for
its Guests. In addition to its many burger offerings, Red Robin
serves a wide variety of salads, soups, appetizers, entrees,
desserts, and signature beverages. Red Robin offers a variety of
options behind the bar, including its extensive selection of local
and regional beers, and innovative adult beer shakes and cocktails,
earning the restaurant a VIBE Vista Award for Best Beer Program in
a Multi-Unit Chain Restaurant. There are more than 560 Red Robin
restaurants across the United States and Canada, including
locations operating under franchise agreements. Red Robin… YUMMM®!
Connect with Red Robin on Facebook, Instagram, and Twitter.
Forward-Looking Statements
Forward-looking statements in this press release are made under
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These statements are based on assumptions
believed by the Company to be reasonable and speak only as of the
date on which such statements are made. Except as required by law,
the Company undertakes no obligation to update such statements to
reflect events or circumstances arising after such date, and
cautions investors not to place undue reliance on any such
forward-looking statements. Forward-looking statements involve
risks and uncertainties that could cause actual results to differ
materially from those described in the statements based on a number
of factors, including but not limited to the following: the
effectiveness of the Company’s strategic initiatives, including the
effectiveness of the Company’s affordability, service improvement,
technology, and off-site initiatives to drive traffic and sales;
the ability to increase labor productivity through alternative
labor models, and to train the Company's workforce for service
execution complexities related to growth of multiple revenue
streams in the restaurant; the success of the Company's
refranchising efforts; and other risk factors described from time
to time in the Company’s Form 10-K, Form 10-Q, and Form 8-K reports
(including all amendments to those reports) filed with the U.S.
Securities and Exchange Commission.
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(203) 682-8253
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Reinhard Joele Frank, Wilkinson Brimmer Katcher (212) 355-4449
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