Twin Peaks appoints Andy Wiederhorn as CEO Following Kim Boerema's Exit [Yahoo! Finance]
FAT Brands Inc. - Class B (FATBB)
Company Research
Source: Yahoo! Finance
Less than one year after spinning off Twin Peaks Hospitality, and two months after Twin Peaks reported a third quarter net loss in the double digits, FAT Brands CEO Andy Wiederhorn is back to lead the struggling casual-dining company. According to a Dec. 29 SEC filing, Twin Peaks announced the termination of chief executive officer and president Kim Boerema alongside the appointment of Andy Wiederhorn as CEO, effective immediately. Wiederhorn will be Twin Peaks' third CEO in less than a year after Joe Hummel resigned as CEO last March and Boerema was appointed to replace him last May. After multiple quarters of declining same-store sales and revenues, Boerema exits the company after seven months leading Twin Peaks. Additionally, COO Roger Gondek will also assume the role of brand president while continuing as Twin Peaks COO. “I'm pleased to take on the CEO role and continue to collaborate with Roger in his expanded capacity as president,” Wiederhorn said in a statement. “We r
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