Denny's Corp. (DENN) said Monday it has tapped Taco Bueno
executive John C. Miller as its president and chief executive, the
permanent replacement for Nelson Marchioli, who in June left the
company amid a stiff proxy battle.
Miller has been the chief executive at Taco Bueno, which runs
fast-service Mexican restaurants, since 2005. Before that, he had
spent 17 years at Brinker International Inc. (EAT), which operates
restaurants such as Macaroni Grill.
"John is a proven leader in the restaurant industry who has the
talent and experience to build upon our current momentum and
accelerate the resurgence of the Denny's business and brand," said
Louis P. Neeb, head of the board's chief-executive search
committee.
Denny's board in May narrowly held off a bruising challenge from
activist investors who were looking to replace Marchioli, Chairman
Debra Smithart-Oglesby and another board member. Marchioli left the
company in June under what the company said was part of "an ongoing
succession planning process that's been going on for some
time."
Smithart-Oglesby, who had been doing the chief executive job
since Marchioli's departure, will go back to serving as the
company's chairman.
Denny's shares closed at $3.58 and were inactive after hours.
The stock has risen 54% the past year.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com;