Wingstop Appoints Raj Kapoor as SVP, President of International as Brand Sets Its Sights on 7,000+ Units Globally

Rhea-AI Summary

Wingstop announces the appointment of Raj Kapoor as SVP, President of International, effective April 26, 2023. Kapoor brings 28 years of leadership experience from 7-Eleven, where he held several senior roles, including VP of International. His main responsibilities will center on enhancing Wingstop's growth and development strategy for international markets and overseeing existing international operations.

CEO Michael Skipworth expressed optimism about Kapoor's leadership, coinciding with the brand's momentum and a goal of expanding to over 3,000 international locations. The recent opening of the first restaurant in South Korea marks a significant step towards a target of over 7,000 global units, further solidifying Wingstop's position in the fast-growing restaurant sector.

Positive

• Raj Kapoor's extensive leadership experience at 7-Eleven could bring new insights to the international development of Wingstop.
• The appointment aligns with Wingstop's aggressive expansion strategy, aiming for over 3,000 international locations.

Negative

• Concerns may arise about continuity in leadership styles or the experience gap due to Kapoor's transition from a different industry.

DALLAS, April 26, 2023 /PRNewswire/ -- Today, Wingstop (NASDAQ: WING) – the global chicken chain with nearly 2,000 restaurants worldwide – announced the appointment of Raj Kapoor as SVP, President of International. Raj will be responsible for driving Wingstop's growth and development strategy for markets outside of the U.S. and oversee the performance of the brand's existing international markets.

Raj joins Wingstop from 7-Eleven, where he spent 28 years in a variety of leadership roles including VP of International; SVP and Chief Information Officer; and, most recently, SVP of Fresh Food, Beverage and Restaurants. Throughout his tenure, he was responsible for numerous functions including logistics, sales and merchandising, operations and more.

"I'm excited to have Raj join the Wingstop team as we embark on our next phase of growth," said Wingstop's President & CEO Michael Skipworth. "Our international business has incredible momentum and I'm confident Raj's leadership will further support our vision of scaling to more than 3,000 international units and becoming a Top 10 Global Restaurant Brand."

This announcement comes on the heels of the first restaurant opening in South Korea – with the potential to operate 200-250 in the country – contributing to the established target of 7,000 plus restaurants globally.

About Wingstop
Founded in 1994 and headquartered in Dallas, TX, Wingstop Inc. (NASDAQ: WING) operates and franchises more than 1,950 locations worldwide. The Wing Experts are dedicated to Serving the World Flavor through an unparalleled guest experience and use of a best-in-class technology platform, all while offering classic and boneless wings, tenders, and chicken sandwiches, always cooked to order and hand sauced-and-tossed in fans' choice of 11 bold, distinctive flavors. Wingstop's menu also features signature sides including fresh-cut, seasoned fries and freshly-made ranch and bleu cheese dips.

In fiscal year 2022, Wingstop's system-wide sales increased 16.8% to approximately $2.7 billion, marking the 19th consecutive year of same store sales growth. With a vision of becoming a Top 10 Global Restaurant Brand, our system is comprised of independent franchisees, or brand partners, who account for approximately 98% of Wingstop's total restaurant count of 1,959 as of December 31, 2022.

A key to this business success and consumer fandom stems from The Wingstop Way, which includes a core value system of being Authentic, Entrepreneurial, Service-minded, and Fun. The Wingstop Way extends to the brand's environmental, social and governance platform as Wingstop seeks to provide value to all stakeholders.

Rounding out a strong year in 2022, the Company made Technomic 500's "Fastest Growing Franchise" list, was ranked #16 on Entrepreneur Magazine's "Franchise 500," won Fast Casual's Excellence in Food Safety award, and was named to Fast Company's "The World's Most Innovative Companies" list ranking #4 in the dining category. For more information visit www.wingstop.com or www.wingstop.com/own-a-wingstop and follow @Wingstop on Twitter, Instagram, Facebook, and TikTok. Learn more about Wingstop's involvement in its local communities at www.wingstopcharities.org.

Media Contact
Megan Sprague
media@wingstop.com

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SOURCE Wingstop Restaurants Inc.

FAQ

Who is Raj Kapoor and what role will he play at Wingstop?

Raj Kapoor is appointed as SVP, President of International at Wingstop, responsible for growth and strategy in international markets.

What are Wingstop's international expansion plans under Raj Kapoor?

Wingstop aims to expand to over 3,000 international units, supported by Kapoor's leadership.

What recent milestone did Wingstop achieve in South Korea?

Wingstop opened its first restaurant in South Korea, contributing to the target of 200-250 locations in the country.

What is Wingstop's goal for global restaurants?

Wingstop's goal is to operate over 7,000 restaurants worldwide.