• After about five years in the position
• Praise for Deno
• Search for a successor
• Deno said 61 words

(exechange) — Tampa, Florida, May 7, 2024 — David Deno, chief executive of Bloomin’ Brands, leaves his position. As announced by Bloomin’ Brands Inc. in a news release and in a regulatory filing published on Tuesday, May 7, 2024, David J. Deno leaves his post as chief executive officer at the casual dining restaurant company, after about five years in the role, effective when a successor is named and a successful transition period is completed.

Bloomin’ Brands will undertake a search for a successor.

“Normal course of succession planning”

Bloomin’ Brands did not give an explicit reason for David Deno’s planned departure from the CEO post. Michael Mohan, Chairman of the Bloomin’ Brands Board of Directors, stated: “Conversations regarding the timing of this transition began in 2023 as a normal course of succession planning. The Board is searching for a leader who will build upon David’s commitment and dedication to all 87,000 employees of these great brands.”

Precise information regarding David Deno’s future plans was not immediately available.

“Retiring”

Bloomin’ Brands said: “David Deno, Chief Executive Officer, will be retiring after 12 years with the company, including the last five years as CEO and a member of the Board of Directors. Deno will continue in his current role until a successor is named and a successful transition period is completed.”

Bloomin’ Brands further said: “On May 2, 2024, David J. Deno informed the Board of Directors … of Bloomin’ Brands, Inc. of his intention to retire from his role as Chief Executive Officer and as a member of the Board.”

“Not the result of any disagreement”

Bloomin’ Brands stated, regarding the change: “Mr. Deno’s decision to retire from the Board and as CEO is not the result of any disagreement with the Company or its independent registered public accountants on any matter relating to the Company’s financials, operations, policies, or practices.”

Share price increase since May 2023

The announcement follows an increase in Bloomin’ Brands Inc.’s share price of 1% since May 2023.

In the position of CEO since 2019

David Deno became CEO of the Company in 2019.

His bio reads as follows:

Key Skills and Experience:

• Executive Leadership: As the CEO of Bloomin’ Brands since 2019, responsible for developing and executing the Company’s long-term objectives, growth strategies and initiatives for its portfolio of casual and fine-dining brands. Previously served as CFO and Chief Administrative Officer at Bloomin’ Brands, President of Asia and CFO at Best Buy International, and CFO and COO at Yum! Brands, building deep public company executive experience in these roles.
• Casual Dining: Extensive industry experience with nearly four decades of service at iconic restaurant companies, including Bloomin’ Brands, Yum! Brands and Burger King Corporation.
• Finance: Significant financial expertise across business analytics and global strategy, as well as all areas of financial planning and reporting, including accounting services, corporate tax, treasury and investor relations through CFO and finance roles at Bloomin’ Brands, Best Buy International, Yum! Brands and Burger King Corporation.
• Logistics and Supply Chain: Gained skills in overseeing and optimizing global supply chains through role as Chief Administrative Officer at Bloomin’ Brands and COO at Yum! Brands.
• International: Strong international experience earned as President of Asia for Best Buy International, in addition to leadership roles overseeing Bloomin’ Brands’ international expansion.

Career Highlights:

Bloomin’ Brands (since 2012)

• CEO (since 2019)
• CFO and Chief Administrative Officer (2012-2019)

President of Asia and Chief Financial Officer (International Division), Best Buy (2009 – 2012)

Yum! Brands (1997 – 2006)

• COO (2004 – 2006)
• CFO (1999 – 2005)
• CFO (International Division) (1997 – 1999)

Various roles, including CFO of Pizza Hut, PepsiCo, Inc. (1991 – 1997)

Various financial roles, Burger King Corporation (1983 – 1991)

Other Public Company Boards:

• Krispy Kreme (since 2016)
• Brinker International (2011 – 2012)

Education:

• BA, Economics and Political Science, Macalester College
• MBA, University of Michigan.

61 words by David Deno

In the release announcing his departure as CEO of Bloomin’ Brands Inc., David Deno received praise.

In the release announcing his departure as CEO, David Deno said 61 words.

“I have enjoyed the challenge”

David Deno stated: “It has been an honor to lead this great company of restaurants. I was very fortunate to be offered an opportunity to work in this dynamic and rewarding industry. I have enjoyed the challenge and thank all of those along the way who helped guide my career. I love this company and plan to stay until we find our next CEO.”

The above text is an excerpt from the exechange report 20.2024 ($), publication date May 13, 2024.