US-based casual dining restaurant chain Red Robin Gourmet Burgers has announced a leadership transition with David A Pace taking over as president and CEO.
Pace succeeds G J Hart, who will remain in an advisory role until September to ensure a smooth handover.
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Current board director Anthony S Ackil is to become chairman, with Pace continuing to serve as a board member.
Hart said: “It has been a privilege to lead such an iconic brand over the last two-and-a-half years. Together, we have made important strides in strengthening the essential foundation of great food and great service, and I look at our progress with immense pride.
“With key elements of the North Star plan now in place and as we close the books on another quarter of strong financial performance in the first quarter, we have reached a natural inflection point in Red Robin’s transformation, and I am confident that the company is in great hands with Dave to lead the next phase of this journey.”
Pace brings more than three decades of leadership experience, including a successful tenure as co-CEO of Tastemaker Acquisition Corporation and CEO of Jamba Juice.
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By GlobalDataPace said: “I’m excited to be named CEO to capture the significant opportunities ahead for Red Robin. With a continued focus on delivering exceptional food and service and supporting our operators, I will be working with the team to enhance our marketing approach and reinvest in our facilities to increase guest engagement and grow traffic.
“Additionally, we will be working to build our overall financial strength, reduce our debt and increase our operating flexibility. At its core, the Red Robin business is strong, and through continued focus and execution, I am confident we will deliver significant value to our guests and shareholders.”
Red Robin has also shared financial forecasts, anticipating a 3% rise in comparable restaurant sales for the first quarter, aligning with prior projections.
Adjusted EBITDA is expected to surpass the initial forecast of $18m to $19m.
