Texas Roadhouse appoints new executive roles and board member in leadership changes

Texas Roadhouse, Inc. (NASDAQ:TXRH), a restaurant chain with an $11.5 billion market capitalization and robust annual revenue of $5.7 billion, announced several executive appointments and changes to its board on Thursday, according to a press release statement filed with the Securities and Exchange Commission. According to InvestingPro data, the company maintains strong financial health with impressive revenue growth of 14.6% over the last twelve months.

The board appointed Gerald L. Morgan as Executive Vice Chairman, effective August 14, 2025. Morgan will continue serving as Chief Executive Officer of the company, which InvestingPro analysis shows is currently trading near its Fair Value with a P/E ratio of 26.2x. In his new role, Morgan will preside over board meetings in the chairman’s absence and perform additional duties as assigned by the board. The company and Morgan also entered into a first amendment to his employment agreement. For deeper insights into TXRH’s valuation and growth prospects, investors can access comprehensive Pro Research Reports available exclusively on InvestingPro.

Christopher C. Colson’s title was changed from Chief Legal and Administrative Officer to Chief Business and Administrative Officer, also effective August 14, 2025. Colson will assume responsibility for international franchising and development activities following the retirement of Hugh Carroll at the end of 2025. Colson will continue to oversee the legal and human resources departments and serve as Corporate Secretary. The company and Colson entered into a first amendment to his employment agreement.

Lloyd Paul Marshall was appointed Chief Growth Officer, effective August 14, 2025. Marshall will continue to lead the Bubba’s 33 brand and will oversee construction, design, real estate, development, and facilities functions. Marshall joined Texas Roadhouse in 1997 and has held several leadership positions. He holds minority ownership interests in Texas Roadhouse restaurants in Temple and Mansfield, Texas. In 2024, Marshall received distributions of $43,664 from the Temple location and $50,406 from the Mansfield location.

The board also increased its size to nine members and appointed Hugh J. Carroll, President of International, as a director. Carroll will continue to oversee the Jaggers brand and international franchising until his planned retirement at year-end. Carroll’s compensation in 2024 included a base salary of $497,499, a cash incentive bonus of $351,643, and 2,854 restricted stock units. For 2025, his base salary is $507,700, with a target bonus of $252,350 and 2,667 restricted stock units.

Marshall’s new employment agreement sets an annual base salary of $630,000 and a base target bonus of $525,000, with eligibility for performance-based restricted stock units and separation payments under certain conditions.

All information is based on the company’s August 14, 2025, filing with the SEC.

In other recent news, Texas Roadhouse reported revenues of $1.51 billion for the quarter, surpassing consensus estimates of $1.49 billion. The company achieved same-store sales growth of 5.8%, exceeding analyst expectations by 60 basis points. Despite these positive sales figures, the restaurant chain faced challenges from elevated beef costs, which affected margins and led to mixed quarterly earnings results. BTIG responded by raising its price target for Texas Roadhouse to $200, maintaining a Buy rating despite the earnings miss. In contrast, Stifel and Raymond James both reiterated their Hold and Market Perform ratings, respectively, citing mixed performance and higher costs. Stifel noted positive sales momentum carrying into the third quarter, while Raymond James highlighted increased traffic but lower store margins. Benchmark also maintained its Hold rating, acknowledging the company’s resilience amidst beef inflation pressures. These developments reflect ongoing adjustments to commodity inflation and cost management strategies at Texas Roadhouse.

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