Red Robin Gourmet Burgers, Inc. (RRGB), a full-service restaurant chain, on Thursday announced that G.J. Hart will stepping down as President and Chief Executive Officer. Chairman David Pace has been appointed as President and CEO.
The transitions will be effect immediately. Director Anthony Ackil will take over Pace's position as Chairman.
Pace, with 35 years of experience in the industry, will be leading the Company through the next phase of its transformation. Previously, Pace had served as CEO of Jamba Juice Inc.
Looking ahead, the company reiterates its outlook by expecting first quarter comparable restaurant sales to increase approximately 3%. This aligns with the previous outlook.
The company anticipates Adjusted EBITDA for the first quarter to range between $18 and $19 million, which is an increase from the previously announced guidance.
Red Robin Gourmet Burgers is currently trading 1.4787% higher at $2.72.
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