Jack in the Box Inc. chief financial officer Jerry Rebel plans to retire in 2018, the company said Monday.
The San Diego-based parent to the quick-service Jack in the Box and fast-casual Qdoba Mexican Eats brands will begin an external search for a new CFO and Rebel will continue to serve until after the appointment of a successor, officials said.
“Jerry has been a key driver in the transformation of our business model since joining the company in 2003,” said Lenny Comma, chair and CEO, in a statement. “The company, its shareholders and other stakeholders are better off as a result of his vision and leadership. We are extremely grateful for his many contributions to the organization, which have positioned us well for continued success.”
Rebel was named CFO in 2005. Under his leadership, the company dramatically increased the percentage of franchise ownership of the Jack in the Box brand from about 25 percent to more than 80 percent.
The company’s stock has also appreciated by more than 450 percent, as of market close on Friday.
“I’m proud to have been part of an incredible group that has accomplished so much over the last 13 years and am grateful for the tremendous support and commitment of our employees, board of directors, franchisees and shareholders,” Rebel said in a statement. “I am confident in the company’s leadership team and its ability to drive continued success in the future.”
Jack in the Box Inc. operates and franchises more than 2,200 of its namesake restaurants in 21 states and Guam, as well as more than 700 Qdoba units in 47 states and the District of Columbia and Canada.
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