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Investing.com -- Texas Roadhouse Inc (NASDAQ:TXRH) stock dropped 2.2% following the announcement that Chief Financial Officer Chris Monroe is leaving the company after less than two years in the role.
The restaurant chain said in a statement that Monroe, who was hired on June 28, 2023, is "no longer with the Company." The company’s board has appointed Keith Humpich, Vice President of Finance, to serve as interim CFO until a permanent successor is identified.
"We appreciate Chris’ nearly two years of service and wish he and his family the best as they transition back to Texas," said Chief Executive Officer Jerry Morgan in the announcement.
Humpich previously served as interim CFO from January 2023 to June 2023 before Monroe’s appointment. With over 30 years of accounting, audit, and finance experience, Humpich joined Texas Roadhouse in February 2005 as Director of Internal Audit and was promoted to Vice President of Finance in 2021.
In his current role, Humpich oversees Financial Reporting, Tax, Treasury, Internal Audit, and Financial Analysis. He was appointed as the company’s principal accounting officer in January 2023 and also serves as co-chair of the company’s Enterprise Risk Management function.
Texas Roadhouse has retained an executive search firm to assist in finding a permanent successor for the CFO position.
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