- Signs for push-out forces
- After almost six years on the job
- Praise, thanks and good wishes for Emrey
- Gregg Kalvin taking over in the interim
- Search for a successor
(exechange) — Glendale, California, March 01, 2017 — Tom Emrey, finance chief of DineEquity, leaves. It is a change at short notice. As announced by DineEquity, Inc. in a news release and in a regulatory filing published on Wednesday, March 01, 2017, Thomas W. (Tom) Emrey leaves the post as Chief Financial Officer at the company that both franchises and operates IHOP and Applebee’s restaurants in a surprising move after almost six years on the job, effective March 15, 2017.
DineEquity will undertake a search for a successor.
Emrey’s duties are taken over in the interim by Gregg Kalvin, currently Senior Vice President, Corporate Controller at DineEquity, Inc.
DineEquity announced that it “has accepted the resignation of its Chief Financial Officer, Thomas W. Emrey, to be effective March 15, 2017.”
Emrey will be Chief Financial Officer at Munchkin, Inc.
“Mr. Emrey is leaving to accept the position of Chief Financial Officer at Munchkin, Inc., a leading global infant products lifestyle brand,” DineEquity said. Munchkin, Inc. is a privately held, global infant and toddler company headquartered in Van Nuys, California.
Share price decline
The change follows a sharp decline in the share price of DineEquity, Inc. since February 2015.
Capital Research Global Investors holds 10.51 percent stake
Capital Research Global Investors reported a 10.51 percent stake in DineEquity, Inc. as of December 31, 2016.
Chaired by Richard J. Dahl
DineEquity, Inc. is chaired by Richard J. Dahl.
Dahl serves as Chairman and interim Chief Executive Officer of DineEquity, Inc.
On the job as CFO since 2011
Tom Emrey was appointed chief financial officer of DineEquity in September 2011.
Emrey most recently served as executive vice president and chief operating officer of Universal Studios Home Entertainment (USHE), a subsidiary of NBCUniversal, one of the world’s leading media and entertainment companies.
In this role, he was responsible for oversight of USHE’s strategy, research, technical services, operations, logistics, and supply chain.
Emrey joined USHE as chief financial officer in 2003, where he was responsible for the division’s day-to-day financial operations and the business’ supply chain functions.
Previously, Emrey held a number of senior finance positions at Nestlé USA, including vice president of finance of its Pet Care division.
In that capacity, he played a key role in Nestlé’s acquisition of the Ralston Purina Company, leading to the formation of the world’s largest pet food producer.
Earlier in his career, Emrey spent several years with Silgan Containers Corporation, where he held various positions as corporate controller, director of financial reporting and director of internal audit.
During his tenure at Silgan, he helped oversee the company’s growth through a series of acquisitions from $400 million to over $1 billion in annual sales.
Emrey began his career as an auditor at Ernst & Young LLP.
A certified public accountant, Emrey received a bachelor’s degree from the University of Southern California and an M.B.A. from Pepperdine University.
Signs for push-out forces
It is not completely certain what forces eventually triggered Tom Emrey’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 10.2017 ($).