DineEquity, Inc. (NYSE: DIN), the parent company of Applebee's
Neighborhood Grill & Bar® and IHOP® restaurants,
today announced that Steven Layt has been appointed President of
Applebee’s, effective February 25, 2014. Michael Archer, former
President of Applebee’s, is leaving to pursue other opportunities.
“I want to thank Mike for his commitment and dedication to the
Applebee’s brand,” said Julia Stewart, DineEquity’s Chairman and Chief
Executive Officer. “He made a great contribution to the business during
his tenure as the President of Applebee’s.”
Mr. Layt has held the role of Senior Vice President of Operations for
Applebee’s since January of 2012. Prior to joining DineEquity, Mr. Layt
was the Chief Operating Officer at Buffets Inc. and held a number of
senior management positions globally and in the United States with YUM!
Brands.
“Steve is an outstanding leader,” said Ms. Stewart. “He is
well-respected by the Applebee’s franchisees, is a true innovator and a
team player. We look forward to him moving the Applebee’s brand ahead.”
About DineEquity, Inc.
Based in Glendale, California, DineEquity, Inc., through its
subsidiaries, franchises and operates restaurants under the Applebee’s
Neighborhood Grill & Bar and IHOP brands. With more than 3,600
restaurants combined in 20 countries, over 400 franchisees and
approximately 200,000 team members (including franchisee- and
company-operated restaurant employees), DineEquity is one of the largest
full-service restaurant companies in the world. For more information on
DineEquity, visit the Company's Web site located at www.dineequity.com.
Forward-Looking Statements
Statements contained in this press release may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. You can identify these forward-looking
statements by words such as "may," "will," "should," "expect,"
"anticipate," "believe," "estimate," "intend," "plan" and other similar
expressions. These statements involve known and unknown risks,
uncertainties and other factors, which may cause actual results to be
materially different from those expressed or implied in such statements.
These factors include, but are not limited to: the effect of general
economic conditions; the Company's indebtedness; risk of future
impairment charges; trading volatility and the price of the Company’s
common stock; the Company's results in any given period differing from
guidance provided to the public; the highly competitive nature of the
restaurant business; the Company's business strategy failing to achieve
anticipated results; risks associated with the restaurant industry;
risks associated with locations of current and future restaurants;
rising costs for food commodities and utilities; shortages or
interruptions in the supply or delivery of food; ineffective marketing
and guest relationship initiatives and use of social media; changing
health or dietary preferences; our engagement in business in foreign
markets; harm to our brands' reputation; litigation; Fourth-party claims
with respect to intellectual property assets; environmental liability;
liability relating to employees; failure to comply with applicable laws
and regulations; failure to effectively implement restaurant development
plans; our dependence upon our franchisees; concentration of Applebee's
franchised restaurants in a limited number of franchisees; credit risk
from IHOP franchisees operating under our previous business model;
termination or non-renewal of franchise agreements; franchisees
breaching their franchise agreements; insolvency proceedings involving
franchisees; changes in the number and quality of franchisees; inability
of franchisees to fund capital expenditures; heavy dependence on
information technology; the occurrence of cyber incidents or a
deficiency in our cybersecurity; failure to execute on a business
continuity plan; inability to attract and retain talented employees;
risks associated with retail brand initiatives; failure of our internal
controls; and other factors discussed from time to time in the Company's
Annual and Quarterly Reports on Forms 10-K and 10-Q and in the Company's
other filings with the Securities and Exchange Commission. The
forward-looking statements contained in this release are made as of the
date hereof and the Company assumes no obligation to update or
supplement any forward-looking statements.
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