8-K: Red Robin CFO Resigns, COO Appointed; Q3 Outlook Beats

Red Robin Gourmet Burgers announces CFO Todd Wilson's resignation, promotes Jesse Griffith to COO, and reports preliminary third-quarter results exceeding expectations.

Summary

• Chief Financial Officer Todd Wilson notified the company of his resignation, effective December 12, 2025.
• Jesse Griffith, previously Senior Vice President, Operations, has been appointed Chief Operations Officer, effective October 30, 2025.
• Preliminary unaudited financial results for the third fiscal quarter of 2025 indicate comparable restaurant sales are expected to decline approximately 1.2%.
• Preliminary unaudited Adjusted EBITDA for the third fiscal quarter of 2025 is expected to be between $7.1 million and $7.6 million.
• The company's third-quarter results exceeded its expectations, indicating momentum under the 'First Choice' strategic plan.

Sentiment

Score: 7

Explanation: The preliminary financial results exceeding expectations and the strategic promotion of a seasoned COO are positive, indicating operational improvements. However, the CFO's resignation introduces some uncertainty, though it's stated not to be due to disagreements.

Positives

• Preliminary third-quarter results exceeded company expectations, suggesting positive momentum.
• Comparable restaurant sales are now expected to decline approximately 1.2%, which is an improvement over previous expectations.
• Adjusted EBITDA is expected to be between $7.1 million and $7.6 million, also exceeding expectations.
• Jesse Griffith's promotion to Chief Operations Officer recognizes his significant contributions and leadership in driving operational efficiency and guest focus.

Negatives

• Chief Financial Officer Todd Wilson is resigning, effective December 12, 2025, creating a leadership vacancy.
• The company has initiated a formal search to identify a qualified successor for the CFO position, which introduces a period of transition.

Risks

• Preliminary financial results are unaudited and subject to adjustment and finalization by the company.
• Forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially.
• Risks include the global and domestic economic and geopolitical environment, the company's ability to effectively compete in the industry, and its ability to attract and retain guests.
• Additional risk factors are described in the company's Form 10-K, Form 10-Q, and Form 8-K reports filed with the U.S. Securities and Exchange Commission.

Future Outlook

The company expects to build momentum under its 'First Choice' strategic plan, with preliminary third-quarter results exceeding expectations. It is committed to identifying the right CFO successor and driving four-wall operational excellence and exceptional guest service across all restaurants.

Management Comments

• "On behalf of everyone at Red Robin and our board of directors, I would like to thank Todd for his many contributions during his tenure as CFO." Dave Pace, President and CEO.
• "The future of Red Robin remains bright and we are committed to identifying the right person for our next CFO as we continue our work to restore Red Robin to its rightful place in the industry." Dave Pace, President and CEO.
• "I’m delighted to name Jesse as COO. This move reflects the significant contributions that he continues to make in leading our Operations team, and our recent results have been driven by the efficiency and focus on our guests that he has brought to Red Robin." Dave Pace, President and CEO.
• "Jesse’s wealth of experience will continue to be instrumental in driving our commitment to four-wall operational excellence and providing exceptional guest service across all our restaurants under our First Choice strategic plan." Dave Pace, President and CEO.
• "In addition to our organizational changes, we are pleased to announce that our third quarter results exceeded our expectations as we are beginning to build momentum under the First Choice plan." Dave Pace, President and CEO.

Industry Context

Red Robin operates in the highly competitive casual dining and burger-focused restaurant segment. The company's strategic focus on 'four-wall operational excellence' and 'exceptional guest service,' underscored by the promotion of an experienced Chief Operations Officer, aligns with broader industry trends emphasizing efficiency, customer experience, and adapting to evolving consumer preferences in a challenging economic environment. The COO's background across various restaurant formats, including fast-casual, suggests a diversified operational perspective.

Comparison to Industry Standards

• The filing mentions several casual dining and brew-centric restaurant concepts (Five Guys, Chili's, Applebee's, Ruby Tuesday, TGIFridays, Texas Roadhouse, BJ's, Yardhouse, Miller's Ale House, and Brickhouse) in the context of the COO's non-compete clause, indicating they are considered competitors.
• However, the filing does not provide specific performance comparisons of Red Robin's preliminary Q3 results (e.g., comparable sales decline of 1.2%, Adjusted EBITDA of $7.1-$7.6 million) against these or other industry benchmarks.

Management Changes

Corporate Governance

Stakeholder Impact

• **Shareholders**: Potential positive impact from better-than-expected Q3 results and strategic operational leadership, but uncertainty from the CFO's departure and the search for a successor.
• **Employees**: The promotion of an internal candidate (Jesse Griffith) to COO may boost morale and signal internal growth opportunities within the company.
• **Customers**: The renewed focus on 'four-wall operational excellence' and 'exceptional guest service' under the new COO aims to improve the overall customer experience at Red Robin restaurants.

Next Steps

• The company will continue its search to identify a successor for the Chief Financial Officer position.
• Todd Wilson will assist in the transition of his responsibilities until his departure on December 12, 2025.
• The company is scheduled to report its full fiscal third quarter results on Monday, November 10, 2025, after the market close.
• A conference call to discuss the third quarter results will be held on November 10, 2025, at 4:30 p.m. ET.

Key Dates

Recommendation

The preliminary Q3 results exceeding expectations are a positive signal, suggesting the 'First Choice' strategic plan is gaining traction. The promotion of an experienced COO who has already contributed to recent results provides continuity and a clear focus on operational improvements. However, the resignation of the CFO introduces an element of uncertainty, especially as the company initiates a search for a successor. While the resignation is stated not to be due to disagreements, a change in a key financial leadership role always warrants careful monitoring. The stock is likely to see some positive movement on the Q3 outlook, but the CFO transition suggests a 'hold' until more clarity on the new CFO and sustained operational improvements are demonstrated.

Keywords

Red Robin, RRGB, restaurant, casual dining, CFO resignation, COO appointment, financial results, Q3 outlook, comparable sales, EBITDA, executive changes, corporate governance