RBI
Covering the SHORT on the Patrick Doyle news.
Patrick Doyle was named executive chairman of RBI, bringing the former longtime Domino’s Pizza CEO back to the restaurant industry four years after his retirement. Doyle guided DPZ during a remarkable growth period between 2010 and 2018, when the company became the world’s largest pizza chain, more than doubling system sales while its stock price grew 20x. He will now be tasked with speeding growth at a multi-concept restaurant company. As part of the deal, he will buy $30 million worth of company stock and get stock options that vest over at least five years that are worth $200 million based on Tuesday's closing price. Yet Doyle only earns that if the stock price grows by about 10% per year over the next five years, meaning he stands to earn far more than that. RBI’s board said in a release that the compensation package “reflects his unmatched performance as one of the world’s most successful QSR leaders and is fully aligned with shareholder interests” because they won’t be fully realized unless the company makes “significant improvement” in its performance.
CMG
Is this press release worthy?
Chipotle Mexican Grill (CMG) today announced the opening of its 500th restaurant with a Chipotlane®, the brand's digital order drive-thru pick-up lane. Located in Louisville, Kentucky, the milestone opening underscores the brand's ongoing commitment to driving access and convenience to real food made with true culinary every day. Why this is deserving of a press release is interesting because it is a reminder that 85% of the company's units don't have a Chipotlane®.
