Fat Brands Elevates Insider To Co-CEO: Retail On The Fence
Synopsis
Taylor Wiederhorn will be the new joint leader, replacing Rob Rosen, who will move to a consulting position focused on debt and capital markets for the company.
Restaurant operator Fat Brands (FAT) announced a key leadership change on Tuesday.
Taylor Wiederhorn will become a Co-CEO, replacing Rob Rosen, who will move to a consulting position focused on debt and capital markets for the company.
Wiederhorn was previously the chief development officer and, according to his LinkedIn profile, has been with the company for over seven years.
Ken Kuick will continue to serve as the other Co-CEO, and CFO.
Fat Brands is a global franchising company that owns 18 restaurant brands, including Fatburger, Johnny Rockets, and Twin Peaks.
In 2024, it opened 92 new restaurants and signed over 250 franchise agreements.
Despite a 23.4% annual revenue increase to $592.7 million, the company reported a net loss of $189.8 million last year.
Last year, Fat Brands spun off Twin Hospitality Group, which includes brands like Twin Peaks and Smokey Bones.
In January, Twin Hospitality's shares began trading under the TWNP ticker on the Nasdaq Global Market.
On Stocktwits, retail sentiment for Fat Brands was 'bearish'.
A user said the stock was underpriced, with upside from a likely debt restructuring.
Fat Brands stock is down 9.6% year to date.
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