Operations

Potbelly names former Wendy's COO as CEO

July 21, 2020

Potbelly Corp. has named Robert D. Wright, former Wendy's COO, as president and CEO. He succeeds Alan Johnson, who has held the role since December 2017, but stepped down last month after the chain reported in May that total revenues were down to $87.6 million from $98.1 million during Q1, ending March 29.

Wright has over 30 years of experience in the restaurant industry, most recently serving as EVP and COO of The Wendy's Co., where he ran operations for over 6,000 company and franchise restaurants located in the U.S. and Canada. He's also held various corporate roles at other chains including Charley's Philly Steaks, Checker's Drive-In Restaurants, Inc., and Domino's Pizza Inc.

"We are thrilled to welcome a new leader with extensive restaurant operating experience," Joe Boehm, Potbelly's lead director, said in a company press release. "Bob's ability to quickly identify and leverage brand strengths, as well as his substantial operations expertise, make him uniquely equipped to lead Potbelly during this critical time for our Company. He drove dramatic improvement in guest satisfaction at Wendy's, and Potbelly will greatly benefit from his vision, leadership, and drive to successfully transform our business. Bob also completed a transition of 1,100 company restaurants to franchise ownership during his time at Wendy's, and we expect to leverage this experience as we return to system growth."

Wright's immediate focus will be on accelerating the company's ongoing business turnaround, which includes improving the on- and off-premise guest experience, enhancing the brand positioning, and reviewing cost structure and asset base.

"Potbelly is a great brand, with a rich history and tradition of high-quality food made fresh for every customer in a unique and warm sandwich shop environment," Wright said in the release. "Despite the challenges the current environment brings, I am confident that the core strengths of the Potbelly brand are exactly the qualities that make a successful, growing brand and company. I am excited to apply my experience and skills working shoulder to shoulder with the Potbelly team and the board of directors to return the brand to growth."

Despite its dramatic loss in sales stemming from COVID-19 Potbelly returned the $10 million it received from the Payroll Protection Program in April, saying that it didn't realize that the funding ran out before other smaller companies had a chance to apply.

Since opening its first shop in Chicago in 1977, Potbelly has expanded to more than 400 company-owned shops in the United States. Additionally, Potbelly franchisees operate over 40 shops in the United States.