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Red Robin hires new CFO, latest management shakeup

AP News
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Posted: Aug 12, 2011 10:09 AM
Red Robin hires new CFO, latest management shakeup

Red Robin Gourmet Burgers Inc. has hired a new chief financial officer from a real estate investment trust, the restaurant chain said Friday.

Stuart Brown will join Red Robin as CFO after holding the same position at DCT Industrial Trust Inc. for nearly five years. He has also held executive positions at Federal Realty Investment Trust, the Giant Food Inc. grocery chain and its Netherlands-based parent Royal Ahold, and Deloitte & Touche.

The CFO is generally a company's top numbers cruncher and its face to Wall Street during earnings presentations. Brown will also oversee Red Robin's supply-chain organization, the company said.

Red Robin, which is based outside Denver in Greenwood Village, Colo., is being transformed under the leadership of CEO Steve Carley, who joined nearly a year ago after leaving the top post at privately held restaurant chain El Pollo Loco. He's been slashing costs, adding new restaurants, and shaking up the ranks of management and the board of directors. Last week he named another company outsider as chief marketing officer.

The previous CFO and chief marketing officer both left the company about a month ago. The company said in a statement at the time that the departure of the previous CFO, Katie Scherping, "was not related to any disagreement with the company's board of directors, audit committee or the company's auditors."