Jack in the Box begins search for new CEO
A change is coming the executive menu at Jack in the Box.
Chief executive officer Lenny Comma said he will leave the company, although there’s no set date for his departure.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JACK | JACK IN THE BOX INC. | 54.92 | +0.01 | +0.02% |
The company announced Wednesday that Comma “believes now is an appropriate time for the company to move forward with identifying a successor.”
Comma has been with Jack in the Box for 18 years, including six as chairman and CEO.
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Courtesy: Jack in the Box
“I’m proud of what the company has been able to accomplish during my tenure as Chairman and CEO,” said Comma. “Since 2014, we’ve sold Qdoba, finished our evolution to an asset-light brand by completing our refranchising efforts, gone through a rigorous strategic alternatives process, completed a very complex $1.3 billion securitization transaction, dramatically strengthened our operations leadership bench, and recently concluded our ninth straight year of system same-store sales growth.”
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The search is on as Jack in the Box has retained executive search and leadership consulting firm Spencer Stuart to assist in picking Comma’s replacement.
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The company said Comma will work with the successor “on a smooth and efficient transition of leadership,” and that it will look at internal and external candidates.