News

Fiesta Group CFO resigns

January 3, 2019

Fiesta Restaurant Group CFO and Treasurer Lynn Schweinfurth is resigning Jan. 25, 2019, to pursue another career opportunity, according to a press release. Fiesta is the parent company of Pollo Tropical and Taco Cabana.

"My experience at Fiesta has been tremendous and I have had the opportunity to work with such a passionate group of people at these iconic restaurant brands," Schweinfurth said in the release. "I will miss the Fiesta team and I look forward to seeing the execution of the long-term strategy upon the recent implementation of the Renewal Plan."

Fiesta reported in December that Pollo Tropical was closing 14 units across Florida and Georgia, and Taco Cabana would shutter nine in Texas.

"In completing our strategic renewal plan with this comprehensive restaurant portfolio review, we will enter 2019 with a keen focus on building traffic, improving margins and rebranding Pollo Tropical for future expansion outside of South Florida," Fiesta President and CEO Richard Stockinger said in the release. "We believe that these steps will build the foundation for growth beginning in 2020."

VP Cheri Kinder, corporate controller and chief accounting officer, will assume the position of interim CFO and treasurer. The company has commenced a formal search for a permanent CFO.

"On behalf of the entire company, I would like to thank Lynn for her many contributions to Fiesta and wish her much success in her new position," Stockinger said in the release. "As interim CFO, I am confident Cheri's leadership will effectively guide us during the search process."

At the end of Q3, Fiesta operated 321 company restaurants (150 Pollo, 171 Taco), and had 30 franchised Pollo Tropical and eight Taco Cabana units.