El Pollo Loco Holdings, Inc. - 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on March 9, 2017, reporting an event that occurred on March 7, 2017. The filing concerns El Pollo Loco Holdings, Inc., a Delaware corporation headquartered in Costa Mesa, California.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and executive personnel changes.
Material Changes
The primary material change reported is the announcement of the retirement of Stephen J. Sather, the Company's President and Chief Executive Officer (CEO). Mr. Sather intends to retire on or before December 31, 2017, contingent upon the hiring of his replacement. He also serves as a member of the Board of Directors and intends to retire from the board simultaneously, declining to stand for re-election in 2018. The Company states the retirement is due to personal reasons and not due to any disagreement with the Company.
Guidance, Outlook, and Management Commentary
Management has engaged Korn Ferry to lead the search for the next CEO. No financial guidance, outlook, or discussion of risks and contingencies is included in this specific filing.
Key Facts for Investor Verification
- Stephen J. Sather's retirement is effective on or before December 31, 2017, subject to the hiring of a successor.
- Mr. Sather will also step down from the Board of Directors at the same time.
- Korn Ferry has been retained to conduct the CEO search.
- The departure is attributed to personal reasons with no reported disagreement with the Company.