The Company to Present at the 19th Annual ICR Conference
NEW YORK--(BUSINESS WIRE)--
Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE:SHAK)
today announced that the Board of Directors has appointed Zach Koff to
serve as the Company’s first Chief Operating Officer. The Company also
announced that Jeff Uttz will retire as Chief Financial Officer in 2017.
Mr. Koff has been leading operations at Shake Shack since the fourth
Shack opened in Miami Beach, FL. Zach has held various roles as Director
of Operations, Vice President of Operations and Senior Vice President of
Operations, as well as being a member of the Company’s Executive team
since the IPO. Mr. Koff held numerous operations roles at Bravo Brio
Restaurant Group prior to joining Shake Shack in 2010.
Randy Garutti, CEO of Shake Shack, stated, “I am beyond proud of Zach's
leadership over the last six years. He has built the team and systems
that run our restaurants today and has been at the foundation of Shake
Shack's unique and powerful people culture. I'm thrilled for Zach to
move into the COO role and further his impact around the greater
strategy and execution of our rapid growth ahead.”
The Company also announced that Jeff Uttz will retire as Chief Financial
Officer in 2017. Mr. Uttz will remain in his current role through
mid-March to oversee the Company's fiscal 2016 reporting period. The
Company has retained Russell Reynolds to initiate an immediate search
for a new Chief Financial Officer.
Randy Garutti, CEO of Shake Shack, stated, “On behalf of myself, our
Board and all of our team members, I wish to thank Jeff for his many
contributions during his time at Shake Shack. Jeff set a very high
standard leading Shake Shack through its IPO and beyond, and we will now
search for a new CFO to help guide us through what will be an
unparalleled period of growth for our company.” Mr. Garutti continued,
“While we have not closed the books on the fourth quarter yet, we remain
confident in the 2016 financial guidance ranges we provided in our third
quarter press release and earnings call, yet we did experience higher
than expected labor in the Shacks in Q4 as we began to institute raises
in concert with our labor strategy to support increased growth. We were
happy to be able to pull forward our 20th Shack of the year in
mid-December in Christiana, DE, ending the year on a high note.”
Jeff Uttz commented, “It has been an honor to help lead this great brand
and I am proud of what we have accomplished. After 25 years in
restaurant finance, I have been fortunate enough to work with several
great brands, particularly Shake Shack. I am grateful to have had the
opportunity to work with such a passionate and driven group of people
and I wish the Company and all of its team members the very best.”
Jeff Uttz has served as Shake Shack’s Chief Financial Officer since
September 2013. Prior to joining Shake Shack, Mr. Uttz was the Chief
Financial Officer of Yard House, where he led the expansion of Yard
House from three units when he began to over 40 units when Yard House
was acquired by Darden Restaurants, Inc. Prior to Yard House, Mr. Uttz
held a number of positions at CKE Restaurants, Inc.
The Company will also be presenting at the 19th Annual ICR Conference at
the JW Marriott Orlando Grande Lakes in Orlando, Florida on Tuesday,
January 10, 2017. Randy Garutti, Chief Executive Officer and Jeff Uttz,
Chief Financial Officer will be presenting. The presentation will begin
at 9:30 a.m. Eastern Time and will also be webcast live from the
Company's Investor Relations website at http://investor.shakeshack.com.
About Shake Shack
Shake Shack is a modern day “roadside” burger stand known for its 100%
all-natural Angus beef burgers and flat-top vienna beef dogs (no added
hormones and no antibiotics ever), 100% all-natural cage-free chicken
(no antibiotics ever), spun-fresh frozen custard, crinkle cut fries,
craft beer and wine (available at select locations) and more. With its
fresh, simple, high-quality food at a great value, Shake Shack is a fun
and lively community gathering place with widespread appeal. From its
premium ingredients and caring hiring practices to its inspiring designs
and deep community investment, Shake Shack’s mission is to Stand For
Something Good®. Since the original Shack opened in 2004 in NYC’s
Madison Square Park, the company has opened multiple locations in 16
states and the District of Columbia, as well as international locations
including London, Istanbul, Dubai, Tokyo, Moscow, Seoul and more.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170105006381/en/
Source: Shake Shack Inc.