UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Emerging growth company
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed, the term of the Employment Agreement, dated as of August 9, 2017 by and between Dine Brands Global, Inc. (the “Corporation”) and Stephen P. Joyce, the Chief Executive Officer of the Corporation, will expire as of February 1, 2021. In connection with this expiration, the Corporation has commenced a search for a new Chief Executive Officer.
A copy of the Corporation’s press release announcing the search for a new Chief Executive Officer is attached hereto as Exhibit 99.1, and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) | Exhibits. |
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Description | |||
99.1 |
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: May 28, 2020 |
DINE BRANDS GLOBAL, INC. | |||||
By: |
/s/ Bryan R. Adel | |||||
Bryan R. Adel Senior Vice President, Legal, General Counsel and Secretary |
Exhibit 99.1
News Release | Investor Contact | |
Ken Diptee | ||
Executive Director, IR | ||
Dine Brands Global, Inc. | ||
Ken.diptee@dinebrands.com |
Media Contact
Susan Nelson
Vice President, Communications
Dine Brands Global, Inc.
Susan.Nelson@applebees.com
Dine Brands Global, Inc. Announces CEO Search
GLENDALE, Calif., May 28, 2020 The Board of Directors of Dine Brands Global, Inc. today announced that it has retained the executive search firm, Spencer Stuart, to assist the Company in identifying an individual to succeed its Chief Executive Officer, Steve Joyce. Mr. Joyces employment agreement expires February 1, 2021.
I am proud of the growth that we have experienced during my tenure as Chief Executive Officer, said Joyce. Since 2017, we have established and executed on strategic plans, strengthened the franchisee base, completed a $1.3 billion securitization transaction and returned significant capital to stockholders. With the occurrence of the crisis due to the Coronavirus pandemic, it is not only essential that we all focus on our current situation, but also our emergence with a strong leadership team for the future.
We appreciate Steves considerable contributions to Dine Brands during a critical period for the Company accentuated by this current crisis, said Richard Dahl, Chairman of the Board. We are pleased to be working with Spencer Stuart to identify a leader from both an internal and external pool of candidates.
About Dine Brands Global, Inc.
Based in Glendale, California, Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries, franchises restaurants under both the Applebees Neighborhood Grill + Bar and IHOP brands. With approximately 3,600 restaurants combined in 17 countries and approximately 370 franchisees, Dine Brands is one of the largest full-service restaurant companies in the world. For more information on Dine Brands, visit the Companys website located at www.dinebrands.com.
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