Jack in the Box starts search for new CFO
Jack in the Box’s finance head is departing.
The quick-service restaurant chain said Tim Mullany, executive VP and CFO, will be leaving the company for personal reasons, effective February 2, 2023. Jack in the Box has started a search for a new finance head.
While the company searches for a successor, Dawn Hooper, VP, controller & financial reporting, will assume a temporary role as principal financial officer. Hooper, a 22-year Jack in the Box veteran who has held various leadership positions in finance, will report to CEO Darin Harris until a successor is named.
Mullany joined Jack in the Box Inc. team in January 2021. He most recently led the company’s acquisition of Del Taco, which operates some 600 locations, in a deal valued at approximately $575 million.
acquisition.
“I appreciate Tim’s partnership as he guided us through a period of unprecedented inflation while simultaneously integrating our two brands this year,” stated Harris. “We wish him the best of luck and we are certain the finance team will be in good hands until his successor is named.”
In October, Jack in the Box debuted an off-premise-only prototype in Tulsa, Oklahoma. At only1,350-sq.-ft. and with no interior seating, the restaurant features a double y-lane drive-thru, a walk-up window for ordering and dual assembly kitchens. It also has a dedicated pick-up window for mobile and third-party delivery orders.
The goal of the new prototype is to reduce buildout costs by around 20%, while also increasing real estate flexibility, the company said. The new format was created for freestanding locations, but can be adapted to fit in a variety of spaces such as convenience stores, travel plazas and end-cap locations.
[Read More: Jack in the Box continues digital transformation with site, app revamp]
Headquartered in San Diego, Calif., Jack in the Box is one of the nation’s largest hamburger chains with more than 2,200 restaurants across 21 states, and Del Taco, the second largest Mexican-American quick-serve chain by units in the U.S. with approximately 600 restaurants across 15 states.