DineEquity appoints Stephen P. Joyce as chief executive officer
DineEquity, Inc. (NYSE: DIN), the parent company of Applebee's Neighborhood Grill & Bar® and IHOP® restaurants, announced the appointment of Stephen P. Joyce as the company's chief executive officer, effective September 12, 2017.
"We are excited to announce Steve's appointment as chief executive officer. The members of a search committee of the Board of Directors, with the assistance of the executive search firm, Heidrick and Struggles, have carefully identified and evaluated a number of highly-qualified candidates across the nation, and concluded that Steve is clearly the best fit to lead the company and its two iconic brands," said Caroline W. Nahas, lead director of DineEquity, Inc.
"Importantly, Steve is well aware of the efforts underway to re-empower and place on a solid growth course both the Applebee's and IHOP businesses. In his role as a member of the Board of Directors, he has developed a deep understanding of our business and brands and a commitment to the well-being of our franchisees and shareholders. I look forward to working with him in his new role," commented Richard J. Dahl, chairman of the Board of Directors.
"Over the last five years, I have seen DineEquity, Applebee's and IHOP experience both incredible success and challenging periods, like the one we are in today," said Joyce. "During my time as a director, I've come to understand many of the strengths, weaknesses and opportunities before us. I guess you could say I'm coming into this eyes wide open and what I see is a future filled with tremendous possibilities. With a talented management team, a committed franchisee base, and a strong group of shareholders, I look forward working to stabilize performance at Applebee's and identify new pathways to growth for IHOP."
Richard J. Dahl, Chairman of the Board and interim chief executive officer, will remain as Chairman and will continue to serve as interim chief executive officer until Mr. Joyce assumes the role of chief executive officer on September 12, 2017. Mr. Joyce will remain on the Board of Directors.