J. Alexander’s Holdings Inc. is promoting chief financial officer Mark Parkey to CEO and president, succeeding longtime executive Lonnie J. Stout II in the role, the company said Monday.
The Nashville, Tenn.-based company that owns and operates J. Alexander’s, Redlands Grill, Stoney River Steakhouse and Grill and other restaurants said the promotion would become effective May 1. With the transition, Stout will become chair of the company’s board.
In addition, Jessica Hagler was promoted to chief financial officer, succeeding Parkey in that position. Hagler has served as the company’s vice president, controller and chief accounting officer since October 2015,
“We are highly confident in Mark’s ability to lead this management team as chief cxecutive officer,” said Frank Martire, who will become lead independent director upon the transition, in a statement. “Mark and Lonnie have worked well together for a number of years, and we believe this transition will be seamless for our shareholders.”
Stout and Mike Moore, the company’s chief operating officer, co-founded J. Alexander’s Restaurants in 1991.
“It has truly been a joy to serve this company and lead this outstanding management team,” said Stout, who joined J. Alexander’s in 1979 and has served as a director, president and CEO of earlier companies, including J. Alexander’s Corp. and J. Alexander’s LLC, since 1986.
Parkey has served as chief financial officer since 2013 and has served in other positions at the restaurant brand since 1993.
J. Alexander’s Holdings has 46 restaurants in 16 states.
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