News

Krystal replacing CEO

September 23, 2014

Doug Pendergast, who was named CEO of Krystal in April 2012, has been abruptly replaced by interim CEO Harsha Agadi, reports the Times Free Press.

Agadi is the chairman of Krystal’s board and former Church’s Chicken CEO.

Pendergast was the driving force behind the burger chain’s headquarters move from Chattanooga, Tenn., to Atlanta, claiming a need to be close to the latter city’s busy airport for growth support.

His initial goal was to add 150 restaurants to the Krystal system, which was at 360 at the time. However, according to Technomic data, the chain finished 2013 with 349 units. Sales were also down nearly 1 percent from 2012 to 2013.

Krystal was sold to private equity firm Argonne Capital Group in March 2012. Following the sale, former CEO Fred Exum and a number of other executives left the company after the move to Atlanta was announced, the story said.