Business
El Pollo Loco Announces CEO Transition
Industry Veteran and El Pollo Loco CFO Laurance “Larry” Roberts Announced as Interim CEO COSTA MESA, Calif., Oct. 15, 2021 (GLOBE NEWSWIRE) -- El Pollo Loco,
About this update from El Pollo Loco Holdings, Inc.
[{"type":"text","content":"Industry Veteran and El Pollo Loco CFO Laurance “Larry” Roberts Announced as Interim CEO\nCOSTA MESA, Calif., Oct. 15, 2021 (GLOBE NEWSWIRE) -- El Pollo Loco, Inc. (“El Pollo Loco” or “the Company”) (Nasdaq: LOCO), the nation’s leading fire-grilled chicken restaurant chain, today announced the resignation of Bernard Acoca as Director, Chief Executive Officer and President of the Company and its affiliates, to pursue other opportunities, effective today. The Company’s Board of Directors has appointed industry veteran Laurance “Larry” Roberts, the Company’s Chief Financial Officer, as Interim CEO while continuing in his role as Chief Financial Officer. Mr. Acoca will continue to provide consulting services to the Company to further ensure a smooth transition. “On behalf of the Board and everyone at El Pollo Loco, I want to thank Bernard for his valuable contributions, leadership and years of service to El Pollo Loco,” said Michael G. Maselli, Chairman of El Pollo Loco’s Board of Directors. “Bernard and his team successfully navigated through the many challenges of the pandemic, and today the Company is stronger than ever with increasing sales and a strong connection with our customers. Under Bernard’s leadership, we have accelerated our digital penetration and positioned the Company for success over the coming years. Bernard will always be part of the extended El Pollo Loco family, and we wish him the best in his new endeavors.” Mr. Maselli continued, “We have great confidence in the executive management team that will continue to lead El Pollo Loco. As interim CEO, Larry brings the range and depth of over 25 years of experience in financial and operating roles in the restaurant industry, including serving as the CFO of El Pollo Loco for the past eight years in which he has led the Finance, Supply Chain, Information Technology and Quality Assurance functions. Prior to joining the Company, Larry was both CFO and COO of Yum Brand’s Kentucky Fried Chicken division. He is a true champion of El Pollo Loco and has played a critical role in the Company’s many successes. Larry has the highest level of respect for our customers, employees, and franchisees, and as a result, he is ideally suited to guide El Pollo Loco as we continue our journey.” “It has been an honor to lead El Pollo Loco over the last three and a half years,” said Mr. Acoc...