Red Robin Gourmet Burgers Inc. said Wednesday Denny Marie Post was retiring as president and CEO, and board chair Pattye Moore would serve as interim CEO.
The Greenwood Village, Colo.-based chain said the decision came after discussions with the board of directors. Post had served in the role since 2016.
“The board intends to move quickly on the search process as the company continues to execute our turnaround plan in this challenging and rapidly evolving casual-dining landscape,” Moore said in a statement.
“Our search effort will focus on identifying an external candidate who recognizes the urgency of strengthening and stabilizing our dine-in business as well as the importance of continuing our evolution to an omni-channel brand,” said Moore, who has served on Red Robin’s board since 2007 and as board chair since 2010.
Moore previously served as a board member and president at Oklahoma City-based Sonic Corp.
"We want to recognize Denny for her leadership, commitment to and passion for the Red Robin brand over the last seven years in her roles as CMO, president and CEO,” Moore said. “On behalf of the board, I want to thank Denny for her contributions and wish her well in retirement.”
Post said in a statement: “My years at Red Robin have been by far the most satisfying of my career. We made great strides evolving the brand and have a strategy in place which will ensure Red Robin serves generations of families for years to come. I am confident the team will continue to realize that vision.”
Post will serve as an adviser as the search committee identifies a new CEO.
Moore added that for the first quarter ended March 24, same-store sales had declined 3.6%. She blamed that in part on weather impact.
For the fourth quarter ended Dec. 30, which included asset impairment and other charges, Red Robin swung to a loss of $10.6 million, or 82 cents a share, from a profit of $8.8 million, or 68 cents a share, in the prior-year period. Revenues in the quarter, which included one less week than the same period last year, fell 10.8%, to $306.8 million from $343.9 million.
Red Robin has 570 restaurants in the United States and Canada.
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