FAT Brands appoints Drew Martin as new CIO

LOS ANGELES - FAT Brands Inc. (NASDAQ:FAT), a prominent global franchising company with annual revenues of $592.65 million, has announced the appointment of Drew Martin as its Chief Information Officer. With a career spanning over 35 years in the IT sector, Martin brings a wealth of experience to the role, having worked with both Fortune 500 companies and high-growth start-ups.

Martin’s expertise in delivering scalable technological solutions is expected to drive growth for FAT Brands, which has demonstrated strong revenue growth of 23.35% over the last twelve months. His tenure includes significant positions such as Senior Vice President and CIO at Jack in the Box, and Sony Electronics. According to InvestingPro analysis, the company currently operates with a significant debt burden, making technological efficiency improvements crucial for future success. He has also been instrumental in digital transformations at companies like PepsiCo and played a pivotal role in the development of AI product features at Lytx Inc., a high-growth software start-up.

Thayer Wiederhorn, Chief Operating Officer of FAT Brands, expressed confidence in Martin’s ability to enhance the company’s technological platforms, citing his deep understanding of digital innovation. Wiederhorn anticipates that Martin’s contributions will improve guest experiences, streamline operations, and foster long-term expansion across the company’s diverse portfolio of brands.

Martin himself is excited to explore new technological opportunities that will strategically benefit the brands under FAT Brands and position the company as an industry innovator.

FAT Brands is known for its dynamic portfolio, which includes 18 restaurant brands such as Round Table Pizza, Fatburger, and Johnny Rockets, with more than 2,300 units franchised and owned globally. The company maintains a notable market capitalization of $50.55 million and offers investors a substantial dividend yield of 19.72%. For deeper insights into FAT Brands’ financial health and growth potential, InvestingPro subscribers have access to over 10 additional exclusive ProTips and comprehensive analysis.

The information in this article is based on a press release statement.

In other recent news, FAT Brands Inc. reported its fourth-quarter financial results, revealing an adjusted EBITDA of $14.4 million, which fell short of Loop Capital’s estimate of $16.2 million and marked a decrease from the previous year’s $27.0 million. The company also experienced an 8.4% year-over-year decline in consolidated revenues, reporting $145.3 million, missing the forecasted $169.9 million. Loop Capital subsequently adjusted its price target for FAT Brands to $12, down from $15, while maintaining a Buy rating on the stock. Additionally, FAT Brands announced a strategic expansion in France, planning to open 30 new Fatburger locations by 2028 through a partnership with Big M CIE. The company has also amended its securitization facility for Fazoli’s and Native Grill & Wings, extending key financial dates and easing certain covenants to provide more flexibility. FAT Brands adjusted the exercise prices of stock options for its directors and executive officers following a recent spin-off of Twin Peaks and Smokey Bones shares. Furthermore, the company declared a monthly cash dividend of $0.171875 per share for its Series B Preferred Stock, set to be distributed on April 21, 2025. These developments reflect FAT Brands’ ongoing efforts to manage its financial structure and expand its global footprint.

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