Fiesta Restaurant Group CEO Rich Stockinger has stepped down from his role effective immediately. CFO Dirk Montgomery will serve as interim CEO while the parent company of Pollo Tropical searches for a permanent CEO.
In a press release, Fiesta Restaurant Group said Stockinger is pursuing other interests.
“We thank Rich for his nearly six years of service with Fiesta,” Board Chair Stacey Rauch said in a statement. “He built a superb senior team and skillfully led the company through an era of difficult challenges. We wish him the best.”
Montgomery has served as CFO since 2019. He previously served as CFO and head of supply chain at Hooters International and at Bloomin’ Brands, which operates Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse. He also previously served as a retail and consumer products executive at companies such as L Brands and Sara Lee Corporation, where he served as both a functional and business unit leader.
“Dirk has the experience, knowledge and capabilities to step into the role without missing a beat,” Rauch said. “He understands our culture, our industry, the challenges we face, and the opportunities that await us. The board is confident his leadership will further enable the company to accelerate growth.”
Fiesta appointed its controller, Tyler Yoesting, to serve as Chief Accounting Officer and acting CFO, effective immediately. Before joining the Company in 2019, Yoesting spent more than a decade in the audit practice of KPMG, a leading professional services and accounting firm.
Fiesta Restaurant Group reported comp sales growth of 9.3% in Q3. Last year, the company announced it was selling Taco Cabana to YTC Enterprises for $85 million.
Contact Alicia Kelso at [email protected]