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SAN DIEGO - Jack in the Box Inc. (NASDAQ: NASDAQ:JACK) has announced a significant change in its executive leadership, with Darin Harris stepping down as Chief Executive Officer. Effective today, the company’s Executive Vice President and Chief Financial Officer, Lance Tucker, has been appointed as the interim principal executive officer. The announcement comes as the company’s stock trades near its 52-week low of $36.78, down approximately 44% over the past year. According to InvestingPro analysis, the stock currently appears undervalued based on its Fair Value metrics.
The transition comes as Harris departs to pursue an opportunity outside of the restaurant industry. He will continue to serve as a consultant until March 14, 2025, to facilitate a smooth handover of responsibilities. This leadership change comes at a crucial time as the company maintains its 11-year streak of consistent dividend payments, despite facing current profitability challenges.
Lance Tucker, who took over as the company’s CFO on January 13, 2025, is no stranger to the role, having previously held the same position at Jack in the Box from March 2018 to September 2020. Tucker’s extensive experience in the restaurant industry includes serving as CFO for CKE Restaurants Holdings, Inc., and holding various senior leadership roles at Papa John’s International (NASDAQ:PZZA), Inc.
David L. Goebel, Chairman of the Board, expressed gratitude to Harris for his five years of service as CEO and conveyed confidence in Tucker’s ability to lead the company during this transitional period. The Board anticipates that Tucker’s strategic expertise will contribute to the company’s growth and financial objectives while maintaining competitiveness in the quick-service restaurant sector.
In conjunction with Tucker’s new role, Dawn Hooper, Senior Vice President & Controller, will step in as the interim principal financial officer. Hooper has a longstanding history with the company, spanning 24 years, and has occupied numerous senior finance positions, including multiple stints as principal financial officer.
Jack in the Box Inc. is known for operating one of the nation’s largest hamburger chains and for franchising Del Taco, the second-largest Mexican-American QSR chain by units in the U.S. This leadership change is based on a press release statement from the company. With the next earnings report scheduled for February 25, 2025, analysts tracked by InvestingPro expect the company to return to profitability this year, despite current challenges. For deeper insights into JACK’s financial health and growth prospects, investors can access comprehensive analysis and additional ProTips through the detailed Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Jack in the Box has been the subject of revised analyst evaluations. Citi analysts have lowered their price target for Jack in the Box from $53.00 to $47.00, maintaining a Neutral rating due to concerns about the company’s growth strategy and industry challenges. They noted the company’s significant stock underperformance and expressed caution about the sustainability of any short-term stock improvements. Stifel also adjusted their price target for Jack in the Box, reducing it to $52.00 from $55.00, while maintaining a Hold rating. This adjustment follows a review of Jack in the Box’s recent earnings and annual 10-K filing, highlighting increased expenses and margin pressures. The Stifel analysis also anticipates fewer refranchising transactions and a potential reduction in share repurchases, leading to a slightly revised earnings per share estimate for fiscal year 2025. Meanwhile, Del Taco, a subsidiary of Jack in the Box, announced an expansion into Indiana with a 10-unit franchise agreement, marking its 12th new market entry in three years. This expansion is part of Del Taco’s broader growth strategy and underscores its recognition as a top emerging fast-food brand.
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