News

Jack in the Box CEO stepping down

Provided

December 11, 2019

Jack in the Box Inc. Chairman and CEO Lenny Comma is leaving the company, according to a company press release that stated that the company's board of directors has retained Spencer Stuart to assist them in identifying a replacement. Although Comma has not set a specific date to leave, he said it was time for the company to move forward with identifying his successor.

"I'm committed to working with the board to identify a successor who will continue to grow this exceptional brand, and to working closely with that successor to assure a smooth and successful leadership transition for the company and its stakeholders, including our incredible guests, employees, franchisees, suppliers and, of course, shareholders," Comma said in the release.

Comma's positive impact on Jack in the Box and its stakeholders during his 18 years with the company and six years as chairman and CEO is difficult to overstate, said lead director David Goebel.

"We're happy to be working with Spencer Stuart to identify a leader from both an internal and an external pool of candidates who can work from the strong foundation that Lenny has helped build and take the company to new heights," he said. "The board is grateful for Lenny's willingness to work with us to assure a seamless transition of his leadership role, and we will proceed diligently to find another world class leader for the Jack in the Box organization."

Comma said he was proud of what the company has been able to accomplish during his tenure.

"Since 2014, we've sold Qdoba, finished our evolution to an asset light brand by completing our refranchising efforts, gone through a rigorous strategic alternatives process, completed a very complex $1.3 billion securitization transaction, dramatically strengthened our operations leadership bench and recently concluded our ninth straight year of system same-store sales growth," he said.