Jack in the Box Inc. Announces Tom Rose as New Del Taco Brand President

Rhea-AI Summary

Tom Rose appointed as Del Taco Brand President

Positive

• Tom Rose has been appointed as the new Del Taco Brand President, replacing Chad Gretzema. Rose is a 30-plus-year veteran in the restaurant business with a proven track record. He recently consulted Jack in the Box on improving the company-owned Kansas City market.
• Rose has a decade of experience as co-founder and franchisee of North Star Foods, which owned 130 KFC and Taco Bell restaurants and generated revenues of over $200 million. The two subsidiaries of North Star Foods were ranked in Restaurant Finance Monitor's Top 200 restaurant groups in the U.S. and grew to be the third largest KFC franchisee in the U.S. YUM Brands system.

Negative

• None.

SAN DIEGO--(BUSINESS WIRE)-- Jack in the Box Inc. (NASDAQ: JACK) announced that Tom Rose will assume the role of Del Taco Brand President, effective immediately. He replaces Chad Gretzema, who has stepped down from the role to pursue a new opportunity.

Rose is a 30-plus-year veteran in the restaurant business with a proven track record in various corporate and franchise leadership roles. Most recently, he consulted Jack in the Box on the recent initiative to improve the company-owned Kansas City market.

Before supporting Jack in the Box, Rose spent a decade as co-founder and franchisee of North Star Foods, a restaurant franchise management and acquisition firm specializing in maximizing operational excellence and sustainability. This organization would own 130 KFC and Taco Bell restaurants and generate revenues of over $200 million. In addition, the two subsidiaries of North Star Foods were ranked in Restaurant Finance Monitor's Top 200 restaurant groups in the U.S. and grew to be the third largest KFC franchisee in the U.S. YUM Brands system.

“I have worked with Tom throughout my career, and since beginning work on the Kansas City market, we have seen meaningful staffing and sales improvement leveraged by his operational expertise and ability to execute,” said Darin Harris, chief executive officer. “We are excited for Tom to evolve Del Taco to its next phase of growth and operational excellence, as he has demonstrated throughout his entire career.”

Rose also held various senior leadership positions at Orion Food Systems, later acquired by Kohlberg & Company, including chief operating officer and board member for four years. He began his career as an Area Coach and Director of Operations at KFC & Taco Bell. He holds a bachelor’s degree in business administration from East Carolina University.

“I admire how these two brands started and the legacy they have created through their amazing people,” said Rose. “I couldn’t be more excited about the opportunity to be a part of an organization with such a bright future.”

About Jack in the Box Inc.

Jack in the Box Inc. (NASDAQ: JACK), founded and headquartered in San Diego, California, is a restaurant company that operates and franchises Jack in the Box^®, one of the nation's largest hamburger chains with approximately 2,200 restaurants across 21 states, and Del Taco^®, the second largest Mexican-American QSR chain by units in the U.S. with approximately 600 restaurants across 16 states. For more information on both brands, including franchising opportunities, visit www.jackinthebox.com and www.deltaco.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may be identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “goals,” “guidance,” “intend,” “plan,” “project,” “may,” “will,” “would” and similar expressions. These statements are based on management’s current expectations, estimates, forecasts and projections about our business and the industry in which we operate. These estimates and assumptions involve known and unknown risks, uncertainties, and other factors that are in some cases beyond our control. Factors that may cause our actual results to differ materially from any forward-looking statements include, but are not limited to: the success of new products, marketing initiatives and restaurant remodels and drive-thru enhancements; the impact of competition, unemployment, trends in consumer spending patterns and commodity costs; the company’s ability to achieve and manage its planned growth, which is affected by the availability of a sufficient number of suitable new restaurant sites, the performance of new restaurants, risks relating to expansion into new markets and successful franchise development; the ability to attract, train and retain top-performing personnel, litigation risks; risks associated with disagreements with franchisees; supply chain disruption; food-safety incidents or negative publicity impacting the reputation of the company's brand; increased regulatory and legal complexities, risks associated with the amount and terms of the securitized debt issued by certain of our wholly owned subsidiaries; and stock market volatility. These and other factors are discussed in the company’s annual report on Form 10-K and its periodic reports on Form 10-Q filed with the Securities and Exchange Commission, which are available online at http://investors.jackinthebox.com or in hard copy upon request. The company undertakes no obligation to update or revise any forward-looking statement, whether as the result of new information or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230912520341/en/

Chris Brandon

Vice President, Investor Relations

chris.brandon@jackinthebox.com

619.902.0269

Source: Jack in the Box Inc.