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Red Robin Gourmet Burgers, Inc. Announces Retirement of Chief Executive Officer at Year-End 2022
Board of Directors Initiates Search for Successor GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Red Robin Gourmet Burgers, Inc., (NASDAQ: RRGB), a full-service
About this update from Red Robin Gourmet Burgers, Inc.
[{"type":"text","content":"\nBoard of Directors Initiates Search for Successor\n\n GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--\nRed Robin Gourmet Burgers, Inc., (NASDAQ: RRGB), a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today announced that Paul Murphy, President and Chief Executive Officer, has informed the Company’s Board of Directors (the “Board”) that he intends to retire at the end of 2022 when his employment agreement expires. Mr. Murphy will be assisting the Board as they search to identify a successor and will remain as a special advisor until March 31, 2023 to work with the Board and his successor to ensure a smooth transition of leadership.\n\nMr. Murphy is an experienced veteran of the restaurant industry having begun his career at Bennigan’s and subsequently held multiple leadership assignments at brands including Einstein/Noah Restaurant Group, Del Taco Restaurant Group, and Noodles & Company. He joined Red Robin in October 2019 and advised the Board at the time that it was his intention to serve for three years as a transitionary leader to quickly improve operating execution and overall performance.\n\nMr. Murphy has led the Company during one of the most tumultuous eras in the history of the restaurant industry. During his tenure, Murphy has been able to restore in-restaurant operating execution, manage the onset and impact of the COVID-19 pandemic and the growth of off-premises sales, implement an enhanced service model, secure a new five-year credit facility, and lead the brand to improving overall performance as the industry continues to recover. These efforts have positioned the Company to continue executing its strategic plan to create long-term value for shareholders with focused initiatives around people, the guest experience, food quality and innovation, a digital ecosystem, and the rollout of Donatos® pizza.\n\nPaul Murphy said, “It has been my pleasure and privilege to lead this iconic brand. While the events experienced during my tenure were certainly not what I had anticipated when I accepted the role in 2019, I’m proud of the work that we have done in strengthening the core of the brand and positioning it for the future. I look forward to working with the Board to identify, recruit, and integrate my successor and ensure a seamless changeover i...