- Red Robin Gourmet Burgers (RRGB, Financial) appoints David A. Pace as President and CEO, succeeding G.J. Hart.
- First quarter 2025 expectations include a 3% increase in comparable restaurant sales and adjusted EBITDA exceeding $18-19 million.
- The leadership transition aims to enhance marketing and operational efficiency under the new CEO's direction.
Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) has announced a significant change in its executive leadership. G.J. Hart will step down as President and CEO, handing over the reins to David A. Pace, the current Chairman of the Board. Pace, known for his transformative tenure at Jamba Juice Inc., where he tripled profit performance, is expected to lead Red Robin through its next phase of transformation.
The leadership transition is in line with the completion of core elements of Red Robin's North Star plan, which focuses on improving guest experience and operational efficiency. To ensure a seamless transition, Hart will continue in an advisory role through September 2025.
As Red Robin prepares for the first quarter of 2025, the company anticipates a 3% increase in comparable restaurant sales and expects adjusted EBITDA to surpass the previously forecasted range of $18-19 million. With these positive financial expectations, the company aims to reinvest in facilities, reduce debt, and enhance marketing strategies under Pace's leadership.
Anthony S. Ackil will take over as the new Chairman of the Board, effective immediately, as part of this strategic transition. Moving forward, Red Robin aims to build on the foundations set by Hart, focusing on strengthening its operations and further enhancing the in-restaurant guest experience.
