Condado Tacos Announces Derrick Pratt as New Chief Executive Officer

Rhea-AI Summary

Condado Tacos has announced Derrick Pratt as the new CEO, effective July 1, 2024. Pratt, with nearly 40 years of experience in the restaurant industry, previously served as COO at Portillo's (PTLO) and held significant roles at Starbucks (SBUX) and McDonald's (MCD).

Under Pratt's leadership at Portillo's, he drove key technology initiatives and led the company through a successful IPO in 2021. Condado Tacos, which has doubled its locations in the past three years, aims to leverage Pratt's expertise for its next growth phase.

Pratt is expected to focus on strategic expansion, operational processes, and people development at Condado Tacos, aligning with the company's vision and culture. Condado Tacos currently operates 50 locations across 10 states.

Positive

• Derrick Pratt appointed as CEO of Condado Tacos, effective July 1, 2024.
• Pratt has nearly 40 years of experience in the restaurant industry.
• Successful tenure as COO at Portillo's, leading the company through its IPO in 2021.
• Significant roles at Starbucks, managing 800 locations and $1.4 billion in revenue.
• Condado Tacos doubled its locations in the past three years to 50 across 10 states.
• Focus on strategic expansion, operational processes, and people development.

Negative

• The effectiveness of the new CEO's strategies remains to be seen.
• Potential challenges in maintaining growth momentum amidst economic fluctuations.
• Integration of new leadership may result in short-term operational disruptions.

Following his success as Chief Operating Officer at Portillo’s, and prior tenure leading world-class operations at Starbucks and McDonald’s, Pratt will lead Condado into its next phase of growth

COLUMBUS, Ohio--(BUSINESS WIRE)-- Condado Tacos (the “Company”), today announced that after an exhaustive nationwide search it has appointed Derrick Pratt as the Company’s next Chief Executive Officer, effective July 1, 2024.

“On behalf of the entire Board of Managers, we are thrilled to welcome Derrick as the next CEO of Condado Tacos,” said John G. Troiano, Chairman of the Board. “Derrick brings a wealth of experience in running successful growth-oriented restaurant brands and has an exceptionally strong track record of guiding companies through periods of significant expansion through strong leadership and innovation. Condado Tacos has doubled over the last three years to 50 locations across 10 states and 18 markets to date, and we are thrilled to have Derrick lead the Company through its next phase of growth.”

Mr. Pratt is a seasoned restaurant executive that brings nearly four decades of restaurant experience to Condado Tacos, with a proven track record in driving best-in-class operations, performance results, world class culture and people development. Since 2021, he has served as Chief Operating Officer of the fast-growing restaurant brand, Portillo’s (NASD: PTLO), where he had leadership experience in operations, real estate development, marketing and supply chain management. As COO, Mr. Pratt was instrumental in the implementation of various technology initiatives and driving industry leading net promoter and guest satisfaction scores and helped lead the organization through its successful IPO in 2021. Prior to joining Portillo’s in 2020, Mr. Pratt served in a variety of operations-focused roles of increasing responsibility at Starbucks (NASD: SBUX), where he was Regional VP of Operations leading 800 locations and $1.4 billion in revenue. Prior to Starbucks, Mr. Pratt spent 22 years in various VP-level positions within the McDonald’s (NYSE: MCD) organization and was also a franchise owner/operator.

“I’m excited to join the Condado Tacos family in this leadership role as we focus on strategic expansion, operational processes and people development,” said Derrick Pratt. “I aligned quickly with the Condado team on a shared vision and strategy to pair best-in-class operations with craveable food in a unique ‘Come As You Are’ culture and environment. I believe that Joe Kahn (Founder of Condado Tacos) and the rest of the management team have built something truly special, and I look forward to the opportunity to work with the entire Condado team to lead and scale this authentic and differentiated restaurant brand.”

About Condado Tacos

Condado Tacos provides an all-inclusive dining experience for its guests and its 2,000+ team members, with "Enough Yum for Everyone." The brand started in 2014 with its first location in Columbus, Ohio. Since its founding, the award-winning taco concept has grown to 50 restaurants in 10 states and was recently listed among the Fastest Growing Private Restaurant Companies by Inc. 5000. To learn more, go to condadotacos.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240604991151/en/

Sara Kear

sara.kear@condadotacos.com

Source: Condado Tacos

FAQ

When will Derrick Pratt start as CEO of Condado Tacos?

Derrick Pratt will start as CEO of Condado Tacos on July 1, 2024.

What experience does Derrick Pratt bring to Condado Tacos?

Derrick Pratt has nearly 40 years of experience in the restaurant industry, with roles at Portillo's, Starbucks, and McDonald's.

How has Condado Tacos grown in recent years?

Condado Tacos has doubled its locations in the past three years, now operating 50 locations across 10 states.

What are Derrick Pratt's key achievements at Portillo's?

As COO at Portillo's, Derrick Pratt drove key technology initiatives and led the company through its IPO in 2021.