Lawrence Kruguer (left), chief operating officer at Wingstop Inc., will resign effective March 7, the fast-casual brand said in federal filings Thursday.
“Kruguer’s resignation is not the result of any material disagreement with the company regarding its operations, policies or practices,” Dallas-based Wingstop noted in its Securities and Exchange Commission filing.
Kruguer had served as Wingstop’s COO since January 2018, when he was promoted into the role. He had served as the Dallas-based chicken-wing brand’s president of international since 2015.
"We are working through the organizational changes and evaluating all options in our decision to replace Larry," a spokesperson for Wingstop said in an email.
For the third quarter ended Sept. 28, Wingstop’s net income slipped 6.6% to $5.9 million, or 20 cents a share, from $6.3 million, or 21 cents a share, in the same period last year. Revenue increased 30.4%, to $49.9 million, from $38.2 million in the same quarter last year.
Wingstop reported a 12.3% increase in same-store sales in the third quarter.
Wingstop, founded in 1994, has 1,340 locations, including 1,169 domestic and 141 abroad.
Update Jan. 2, 2020: This story has been updated with a comment from the company.
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