- Signs for push-out forces
- After around nine years on the job
- Laud, praise and thanks for Bachelder
- No successor named
(exechange) — Atlanta, Georgia, March 02, 2017 — Cheryl Bachelder, chief executive of Popeyes, leaves. As announced by Popeyes Louisiana Kitchen, Inc. in a news release and in a regulatory filing published on Thursday, March 02, 2017, Cheryl Bachelder leaves the post as Chief Executive Officer at the chain of fried chicken fast food restaurants in a surprising move after around nine years on the job, effective at the closing of Popeyes’ previously announced transaction with Restaurant Brands International Inc.
Popeyes did not name a replacement for the position of Chief Executive Officer.
No reason given
In the announcement, Popeyes did not explicitly explain the reason for Bachelder’s move, opening the door for speculation.
Popeyes said: “Cheryl Bachelder will be stepping down as CEO at the closing of the Company’s previously announced transaction with Restaurant Brands International Inc.”
Precise information about the future plans of Bachelder was not immediately available.
Share price rise since February 2009
The change follows a rise in the share price of Popeyes Louisiana Kitchen, Inc. since February 2009.
Chaired by John M. Cranor
Popeyes Louisiana Kitchen, Inc. is chaired by John M. Cranor.
John M. Cranor, III, has served as a director since November 2006 and Chairman of the Board since November 2007.
On the job as CEO since 2007
Bachelder has been the Chief Executive Officer of Popeyes Louisiana Kitchen, Inc. since November 2007.
Bachelder joined Popeyes in 2006 as a member of the Board of Directors.
She brings more than 35 years of experience in brand building, operations and public-company management at companies like Yum Brands, Domino’s Pizza, RJR Nabisco, The Gillette Company and Procter & Gamble Company.
At Popeyes, Bachelder promptly established a Road Map for Results that has produced exceptional performance returns.
In the last eight years, the enterprise market cap has grown from less than $300 million to over $1.3 billion.
At fiscal year-end 2015, Popeyes system-wide revenues were $3.1 billion. These revenues are generated by more than 2,539 restaurants operated by 360 franchisees and more than 60,000 restaurant employees in the United States, three territories and 27 foreign countries.
Bachelder has served as a member of Popeyes Louisiana Kitchen Inc.’s Board of Directors since November 2006; the Board of Directors for Pier 1 Imports, Inc., since 2012; the advisory board of Agile Pursuits Franchising, Inc., a wholly owned subsidiary of Procter & Gamble, since 2009; and International Franchise Association since February 2015.
She served on the Board of Directors for True Value Company from 2007–2012 and on the Board of the National Restaurant Association May 2009–2012.
In November 2014, Bachelder was certified as an NACD Board Leadership Fellow.
Prior to serving as Popeyes CEO, Bachelder revitalized brand performance in both retail and consumer goods companies.
She was president and chief concept officer for KFC Corporate (2001–2003) creating growth plans for the U.S. business in collaboration with the franchise owners.
From 1995 to 2000, Bachelder served as vice president of marketing and product development for Domino’s Pizza, Inc.
Bachelder holds a Bachelor of Science degree in Business Administration and a Master of Business Administration in Finance and Marketing from the Kelley School of Business at Indiana University.
She is married 33 years to Chris Bachelder, and they have three grown daughters.
Signs for push-out forces
It is not completely certain what forces eventually triggered Cheryl Bachelder’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 10.2017 ($).