Denny’s Appoints Debra Smithart-Oglesby Interim CEO
Denny’s Corporation (NASDAQ: DENN) announced today that Debra Smithart-Oglesby, Denny’s Board Chair, has been appointed Interim Chief Executive Officer (CEO), succeeding Nelson Marchioli. Ms. Smithart-Oglesby will serve as CEO until the Company completes the process of hiring a permanent CEO.
Ms. Smithart-Oglesby stated, “I am a passionate believer in the Denny’s brand and I welcome the opportunity to assume this interim role at an important juncture in the Company’s history. As the Company nears completion of its transition to a franchise-oriented business model, we have been planning for a transition in leadership. Today’s announcement will help accelerate that process and the Company’s ability to attract best-in-class candidates for the position of CEO. I want to thank Nelson for his dedicated service to the Company and the Denny’s brand; he has worked tirelessly on its behalf.”
Denny’s also announced the formation of a strategic team to provide organizational focus on the Company’s top priorities during this transition period, with particular emphasis on driving sales and guest counts and ensuring operational excellence across the system. This team will be led by Debra Smithart-Oglesby and will consist of Mark Wolfinger, Denny’s Chief Financial Officer and Chief Administrative Officer, Bill Cox, a large Denny’s franchisee of 16 years, with over 30 years of experience in the restaurant industry including senior operating roles at multiple restaurant concepts, and Bob Langford, a large Denny’s franchisee of 10 years, with over 30 years of experience in the restaurant industry including senior leadership roles at a number of concepts. Mr. Cox will provide support related to operations until the position of Chief Operating Officer is filled and Mr. Langford will continue to provide support related to marketing until the position of Chief Marketing Officer is filled. The search process for both positions is in an advanced stage.
Ms. Smithart-Oglesby concluded, “We are fortunate to have a deep and talented team of experienced restaurant professionals at the Company and within the Denny’s family. Our team is intensely focused on driving sustained improvement in our results in order to maximize stockholder value. We look forward to bringing a renewed sense of energy and passion to our work to achieve the full potential of this great brand.”
