Brad West will retire as chief operating officer of Noodles & Company next year, the fast-casual noodle chain said in a Securities & Exchange Commission filing Wednesday.
West, who joined the company in September of 2017 as executive vice president of operations and was promoted to COO in March of 2021, will remain in his position until June 30, 2025, or “until the date on which his successor to such position is appointed and commences employment,” according to the filing.
Between that time and June 30, West will serve as the chief executive officer’s chief of staff.
Through that date, West will continue to draw his annual base salary of $376,362 ,remain eligible to participate in Noodles’ annual cash incentives bonus program for 2024 and 2025, receive company benefits, and continue to vest all equity awards.
Additionally, he will receive a $100,000 cash retention bonus provided he remains in good standing through June 30 or if his employment is terminated without cause before then.
According to West’s LinkedIn page, he was vice president of operations at Smoothie King Franchises from Sept. 2014 to Sept. 2017, and before that he was chief operating officer of Stevi B’s Pizza Buffet for a year and five months.
Prior, he spent 15 years with Einstein Noah Restaurant Group, preceded by four years with CEC Entertainment, parent company of Chuck E. Cheese and Peter Piper Pizza.
Noodles & Company is in the process of a turnaround led by CEO Drew Madsen, who joined the brand as interim CEO in November of 2023 before being made permanent chief executive in March.
The chain of around 475 restaurants based in Broomfield, Colo. has been struggling with declining traffic and sales since the second quarter of 2023, and although same-store-sales were up slightly in the most recent quarter, they are expected to fall somewhere between flat and -2% for the full year.
Meanwhile, the leadership team is introducing operational improvements and plans to launch a new menu next year.
Contact Bret Thorn at [email protected]
