Management ChangeMay 13, 2026, 04:18 PM
Jack in the Box Appoints Mark King Interim CEO; Q2 EPS $0.65, Sales Down 3.8%
AI Summary
Jack in the Box announced a significant leadership transition, appointing Mark King as Interim Chief Executive Officer and Executive Chairman, effective immediately. This follows the departure of former CEO Lance Tucker and Chief Customer and Digital Officer Ryan Ostrom. Concurrently, the company reported second quarter fiscal 2026 financial results that did not meet expectations, with diluted EPS from continuing operations of $0.65 and a 3.8% decrease in same-store sales. The company also provided updated fiscal year 2026 guidance, anticipating a low single-digit same-store sales decline.
Key Highlights
- Mark King appointed Interim Chief Executive Officer and Executive Chairman, effective May 13, 2026.
- Lance Tucker (CEO) and Ryan Ostrom (Chief Customer and Digital Officer) departed the company.
- Q2 fiscal 2026 diluted EPS from continuing operations was $0.65, down from $1.09 year-over-year.
- Q2 same-store sales decreased 3.8%, with franchise sales down 3.9% and company-owned sales down 2.8%.
- Total revenues decreased 4.3% to $254.3 million compared to the prior year quarter.
- Adjusted EBITDA for Q2 fiscal 2026 was $51.3 million, down from $61.5 million year-over-year.
- Interim CEO Mark King will receive a gross salary of $125,000 per month and $2.4 million in RSUs.
- Fiscal year 2026 guidance updated to low single-digit same-store sales decline and Adjusted EBITDA of $225M-$235M.