Fiesta Restaurant Group, Inc. Welcomes Nirmal Kumar (Trip) Tripathy to Its Board of Directors

Rhea-AI Summary

Fiesta Restaurant Group, Inc. (NASDAQ: FRGI) has appointed Nirmal Kumar (Trip) Tripathy to its Board of Directors effective January 16, 2023. With this addition, the Board now comprises eight members. Tripathy brings extensive financial and leadership experience from roles such as CEO and CFO at prominent retail firms, alongside strong ties to the Florida region. He is currently a Principal at Kaufman Rossin and has a notable background in various senior positions at well-known companies. His expertise is expected to enhance Fiesta's strategic direction and financial oversight.

Positive

• Appointment of Nirmal Kumar (Trip) Tripathy adds significant financial expertise to the Board.
• Tripathy's strong leadership background may provide fresh perspectives for strategic direction.

Negative

• Potential concerns about continuity and experience gaps due to management changes.

DALLAS, Texas--(BUSINESS WIRE)-- Fiesta Restaurant Group, Inc. (“Fiesta” or the “Company”) (NASDAQ: FRGI) announced today that the Board of Directors has appointed Nirmal Kumar (Trip) Tripathy as its newest member, effective January 16, 2023. With his appointment, the Company’s Board stands at eight members. The Company also announced that Mr. Tripathy will immediately join the Company’s Audit Committee and Corporate Governance and Nominating Committee.

“Trip's deep financial and accounting expertise and leadership experiences as CEO, CFO and COO of a number of leading retail and consumer products organizations, make him a strong addition for our Board,” said Stacey Rauch, Chairperson of Fiesta’s Board of Directors. “Additionally, given Trip’s extensive Florida and Miami connections, he is keenly aware of our brand’s strong presence and importance in the region.”

Mr. Tripathy currently serves as a Principal at Kaufman Rossin, a Miami-based firm providing accounting and other business advisory services, in its C-Suite and Board Advisory practice. Previously, Mr. Tripathy served as Chief Financial Officer of The Limited and as Corporate Chief Financial Officer of The TJX Companies. Mr. Tripathy also served as President of Macy’s $2 billion Florida business, Chief Strategy Officer of Yildiz, owner of Godiva Chocolatier and McVitie’s UK, and Chief Executive Officer of its US-based business, Pladis Americas.

Mr. Tripathy is a Certified Public Accountant, a member of the National Association of Corporate Directors and holds a Master’s degree in Business Administration from Texas Christian University. Mr. Tripathy currently is also a member of the Board of Directors for the Miami-Dade Beacon Council, the official economic development organization for Miami-Dade County and is a Board Member and past Chair of the Neeley Board of Advisors at Texas Christian University’s business school.

About Fiesta Restaurant Group, Inc.

Fiesta Restaurant Group, Inc., owns, operates and franchises the Pollo Tropical® restaurant brand and prior to August 16, 2021, owned, operated, and franchised the Taco Cabana® restaurant brand. The brands specialize in the operation of fast casual/quick service restaurants that offer distinct and unique flavors with broad appeal at a compelling value. The brands feature fresh-made cooking, drive-thru service and catering. For more information about Fiesta Restaurant Group, Inc., visit the corporate website at www.frgi.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230117005782/en/

Investor Relations Contact:

Raphael Gross

203-682-8253

investors@frgi.com

Source: Fiesta Restaurant Group, Inc.

FAQ

What is the significance of Tripathy's appointment to Fiesta Restaurant Group's Board?

Tripathy's appointment brings valuable financial expertise and regional connections that may strengthen the company's operations and strategic direction.

When was Nirmal Kumar Tripathy appointed to the Board of Fiesta Restaurant Group?

Nirmal Kumar Tripathy was appointed to the Board on January 16, 2023.

What roles has Nirmal Kumar Tripathy held prior to joining Fiesta Restaurant Group?

Tripathy has held leadership roles such as CEO, CFO, and COO at various leading retail and consumer product organizations.

How might Tripathy's experience impact Fiesta Restaurant Group?

His extensive background in finance and retail may enhance the company's financial oversight and strategic initiatives, potentially benefiting investors.