News

Sonic adds chief development officer position

August 23, 2013

Sonic Drive-In has named John Budd to the newly created role of chief development and strategy officer.

Budd will oversee franchise sales, real estate and construction – both domestically and internationally, according to a news release. Additionally, in conjunction with the chief executive officer, Budd will lead and assist in further development of key strategic initiatives for the company. He will report directly to Clifford Hudson, chairman, CEO and president of Sonic Corp.

"Over the last few years we have successfully implemented a number of initiatives to build our brand and business," Hudson said. "These initiatives have resulted in solid same-store sales and profit growth for our company and franchisees and an increased share price for our shareholders. John's rich background in corporate development and strategy will serve as an asset to the Sonic brand as we continue to grow."

Budd joins Sonic from the Boston Consulting Group, where he served as a partner and managing director. In that role, he helped restaurant brands create management strategies, drive unit growth, implement long-term menu innovation and improve same-store sales and profits. Prior to his work with Boston Consulting Group, he held various domestic and international roles of increasing accountability with General Electric.

"While I come from the world of consulting, I have a track record of demonstrated impact. I'm eager to apply my experience and skill set to Sonic's long-term strategy and growth," Budd said. "I'm thrilled to be joining the talented leadership team at Sonic at the perfect time. They've got a clear vision, a strong brand and momentum. And now, it's time to use this momentum to take the brand to new heights."

Budd graduated from the Wharton School at the University of Pennsylvania with a B.S. in Economics and earned his M.B.A. from the Kellogg School of Management at Northwestern University.

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