Red Robin CFO Resigns, Interim Named

Red Robin Gourmet Burgers Inc. said Tuesday it has named an interim chief financial officer to take over for the outgoing Stuart Brown, who is slated to resign July 15.

The restaurant chain said Terry Harryman, currently Red Robin's chief accounting officer and controller, will take over for Mr. Brown after his departure. Red Robin said Mr. Brown was leaving to pursue an unspecified "opportunity outside the restaurant industry." Mr. Brown joined Red Robin in 2011.

Last month, the chain reported that sales for its latest quarter slipped with fewer visitors to its namesake casual-dining restaurants. Red Robin then cut its revenue outlook for the year to 8% growth down from a previous estimate of 8.5% to 9.5% growth.

Competition among burger chains has been intensifying recently with the entry of fast-casual chains such as Shake Shack Inc. and others. More traditional burger chains have tried to upgrade their offerings amid the growing popularity of the newer chains.

Red Robin has been renovating and rebranding many of its stores, remodeling more than 150 restaurants in 2015, with plans to renovate 70 in the current year. The company said it closed the latest quarter with 443 company-owned Red Robin restaurants.

Write to Ezequiel Minaya at [e-mail]

(END) Dow Jones Newswires

June 14, 2016 17:25 ET (21:25 GMT)

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