By sending DineEquity Inc.’s stock plunging 26% Tuesday, investors racheted up the pressure on the new owner of Applebee’s to deliver on its ambitious turnaround plans for the nation’s largest sit-down restaurant chain.
The selloff came a day after the company announced that Chief Financial Officer Thomas Conforti had resigned, effective immediately. The company, which also owns the IHOP pancake chain, said Mr. Conforti left to “pursue other opportunities.” It said it agreed to give the departing executive a year’s salary, plus his average annual bonus and a one-year car allowance, among other things.
Mr. Conforti’s exit and the subsequent plunge in the stock raise doubts about how successfully DineEquity is digesting one of the biggest restaurant acquisitions in recent years. Last year, the company, then known as IHOP, agreed to buy Applebee’s for $2 billion in a complex deal Mr. Conforti helped to engineer. It was considered a bold move because IHOP had about half of the market capitalization of Applebee’s, and top executives at Applebee’s had claimed the deal was unfair to its shareholders.
e² Young Engineers
Build Your Tomorrow. Today! CLICK HERE TO VISIT OUR WEBSITE Background: We are e² Young Engineers Young Engineers enrichment programs combine education + entertainment = edutainment. We created a variety of different programs that can be used to teach science, technology, engineering, math (STEM). Children joining our educational community can learn and enjoy arithmetic, physics, […]
Business owners don’t have the time or know-how to manage their own social media campaigns, yet they know they need to. Start your own business managing social media for local businesses – we provide the website & all the training you will need. Do you enjoy Facebook & Twitter? Why not make a hefty residual […]
Commercial Capital Training
Welcome to Commercial Capital Training Group Own Your Own Finance Business By Completing Our Comprehensive Commercial Loan Broker Training Program Commercial Capital Training Group, LLC 90 State St. Suite #1500 Albany, NY 12207 Commercial Capital Training Group has developed a one-of-a-kind commercial loan broker training program that allows you to own a commercial finance company. With […]