- Push-out Score determined
- After about three years in the position
- Praise and thanks for Murphy
- Search for a successor
- Murphy said 84 words
(exechange) — Greenwood Village, Colorado, June 22, 2022 — Paul Murphy, chief executive of Red Robin, leaves. As announced by Red Robin Gourmet Burgers Inc. in a news release on Wednesday, June 22, 2022, Paul J.B. Murphy leaves his post as chief executive officer at the restaurant chain, after about three years in the role, effective December 31, 2022.
Red Robin will undertake a search for a successor.
Paul Murphy’s departure from the CEO post is explained as follows. Red Robin said: “Mr. Murphy is an experienced veteran of the restaurant industry having begun his career at Bennigan’s and subsequently held multiple leadership assignments at brands including Einstein/Noah Restaurant Group, Del Taco Restaurant Group, and Noodles & Company. He joined Red Robin in October 2019 and advised the Board at the time that it was his intention to serve for three years as a transitionary leader to quickly improve operating execution and overall performance.”
Precise information regarding Paul Murphy’s future plans was not immediately available.
Red Robin said: “Paul Murphy, President and Chief Executive Officer, has informed the Company’s Board of Directors (the “Board”) that he intends to retire at the end of 2022 when his employment agreement expires.”
Share price decline since October 2019
The announcement follows a decline in Red Robin Gourmet Burgers Inc.’s share price of 77% since October 2019. October 2019 is the month in which Murphy’s tenure as CEO began.
In the position of CEO since 2019
Paul Murphy became CEO of the Company in 2019.
His bio reads as follows:
- Since October 2019, has served as the Company’s President, Chief Executive Officer, and Director.
- From 2017 to 2019, served as Executive Chairman of Noodles & Company where he was responsible for 459 restaurants across 29 states and led a business turnaround that delivered 4 consecutive quarters of positive comparable restaurant sales growth on revenues of $457 million.
- From 2009 to 2017, served as CEO and a member of the board of directors of Del Taco Restaurants, Inc., where he was responsible for 543 company- operated and franchised restaurants with revenues of $470 million and led a successful brand repositioning that resulted in 17 consecutive quarters of company-operated comparable restaurant sales growth and 11 consecutive quarters of system-wide comparable restaurant sales growth.
- From 1996 to 2008, held various roles with Einstein Noah Restaurant Group, Inc.; joined as Senior Vice President, Operations and was promoted to Executive Vice President, Operations in 1998, and to Chief Operating Officer in 2002. In 2003, he was appointed President and CEO and a member of the board of directors.
- Has significant experience in both operational and executive leadership in the restaurant industry, including leading companies through successful business transformations.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Paul Murphy’s move on a scale of 0 to 10.
exechange reached out to Red Robin and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 26.2022 ($).