Red Robin appoints David A. Pace as new President, CEO

USA – Red Robin Gourmet Burgers, the US-based casual dining chain, has announced a leadership transition with David A. Pace assuming the role of president and chief executive officer.

Pace officially succeeded G.J. Hart, who would remain in an advisory role until September to ensure a seamless leadership transition.

It was confirmed that current board director Anthony S. Ackil would assume the role of chairman, with Pace continuing his service as a board member.

Reflecting on his tenure, Hart stated that it had been a privilege to lead such an iconic brand over the past two-and-a-half years.

He noted that the team had made significant strides in strengthening Red Robin’s foundation of great food and service, expressing immense pride in the company’s progress.

Hart remarked that, with key elements of the North Star plan firmly in place and another quarter of strong financial performance concluded, the company had reached a natural inflection point in its transformation.

He conveyed his confidence that the company was well-positioned under Pace’s leadership to advance to its next phase.

Pace, who brought with him 35 years of leadership and turnaround expertise in the food, beverage, and retail sectors, was highlighted for his extensive industry experience.

In addition to serving in multiple board roles, he had previously acted as Co-CEO of Tastemaker Acquisition Corporation, a special purpose acquisition company focused on the restaurant and hospitality sectors, from 2020 to 2023.

His prior achievements include leading Jamba Juice Inc. through a successful brand repositioning that tripled profits and serving as President of Carrabba’s Italian Grill, where he drove major operational improvements and accelerated profit growth.

In his comments, Pace expressed enthusiasm about his appointment as CEO, emphasizing his commitment to capitalizing on the significant opportunities ahead for Red Robin.

He outlined plans to maintain a strong focus on delivering exceptional food and service, enhance marketing strategies, and reinvest in facilities to increase guest engagement and grow traffic.

Pace also stressed the importance of building financial strength, reducing debt, and improving operating flexibility, asserting that Red Robin’s business fundamentals remained robust and that diligent execution would deliver substantial value to guests and shareholders.

Meanwhile, Red Robin shared optimistic financial forecasts, expecting comparable restaurant sales to rise by 3% in the first quarter, in line with earlier projections.

Adjusted EBITDA was anticipated to exceed initial estimates of US$18 million to US$19 million.

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