UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
(Exact Name of Registrant as Specified in Charter)
| (State or other jurisdiction of incorporation or organization) |
(Commission File No.) |
(I.R.S. Employer Identification No.) |
| (Address of principal executive offices) | (Zip Code) |
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading symbol(s) |
Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 3, 2023, Dine Brands Global, Inc., a Delaware corporation (the “Corporation”) accepted the resignation of its President, Applebee’s Business Unit, John C. Cywinski, effective January 6, 2023. Mr. Cywinski is leaving to pursue another opportunity.
Tony E. Moralejo, age 58, will serve as President, Applebee’s Business Unit, effective January 6, 2023. Mr. Moralejo has served as President, International and Global Development of the Corporation since February 2020. From August 2016 to February 2020, Mr. Moralejo was Executive Vice President, International Business & Global Development at Cajun Operating Company.
In connection with his appointment as President, Applebee’s Business Unit, Mr. Moralejo will receive (1) a salary of $600,000 annually, (2) participation in the Corporation’s annual incentive plan with a target payout of 90% of base salary, and (3) participation in the Corporation’s long-term equity incentive award program.
Item 7.01 Regulation FD
On January 4, 2023, the Corporation issued a press release announcing the resignation of Mr. Cywinski and the appointment of Mr. Moralejo. A copy of the press release is attached hereto as Exhibit 99.1 and is also available on the Corporation’s website at www.dinebrands.com.
The information contained in this Item 7.01, including the related information set forth in Exhibit 99.1, is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise. The information in this Item 7.01 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or into any filing or other document pursuant to the Exchange Act, except as otherwise expressly stated in any such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number |
Description | |
| 99.1 | Press Release issued by the Corporation on January 4, 2023. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Date: January 4, 2023 | DINE BRANDS GLOBAL, INC. | |||||
| By: | /s/ Christine K. Son | |||||
| Senior Vice President, Legal, General Counsel and Secretary | ||||||
Exhibit 99.1
News Release
Investor Contact
Brett Levy
Vice President, Investor Relations
Dine Brands Global, Inc.
(818) 637-3632
Brett.Levy@dinebrands.com
Media Contact
Susan Nelson
Sr. Vice President, Global Communications
Dine Brands Global, Inc.
Susan.Nelson@dinebrands.com
Dine Brands Global Announces Executive Leadership Changes
John Cywinski to Depart Company
Tony Moralejo Named Applebee’s President
Scott Gladstone Named President of International and Corporate Development
GLENDALE, Calif., January 4, 2023 – Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebee’s Neighborhood Grill & Bar®, IHOP®, and Fuzzy’s Taco Shop® restaurants, today announces key leadership moves, each effective on January 6, 2023. John Cywinski, Applebee’s President, is leaving the company for a CEO position at another restaurant company. Tony Moralejo, who is currently President, Dine Brands International and Global Development, has been appointed President, Applebee’s U.S. Scott Gladstone, Senior Vice President of Strategy and Innovation, will step into the role of President, International and Corporate Development.
Dine Brands CEO John Peyton said, “John and I share a love and respect for the DNA of Applebee’s, and we are all grateful for his contributions to this great brand over many years. Under John’s leadership, Applebee’s has become the vibrant category-leading brand that it is today. John has built a terrific team, delivered unprecedented sales, revitalized marketing and menus, and has strengthened franchisee relationships. I’m confident that Tony and the exceptional franchisees and leadership team at Applebee’s will continue to drive industry-leading growth.”
“It’s been an absolute honor and privilege to serve as President of this very special brand. I’ve truly enjoyed every moment leading this remarkable group of franchise partners and this equally remarkable team over the past six years. I’ll look on with great pride, knowing the brand is stronger than it’s ever been and poised to continue its extraordinary success moving forward,” John Cywinski said about today’s announcement.
Moralejo, a career restaurant veteran who joined Dine Brands in 2020, steps into the Applebee’s leadership role with a proven track record in operations, development and franchisee relations. Prior to Dine, he served as Executive Vice President for International Business and Global Development at Church’s Chicken and its international brand, Texas Chicken. Earlier in his career, Tony worked for more than 18 years for Burger King in various leadership roles.
Dine Brands Announces Leadership Changes
Gladstone, who joined Dine Brands in 2016, currently leads Corporate Strategy and Innovation. Gladstone brings strategic expertise and an eye for innovation to this expanded role. His early career experience includes The Boston Consulting Group where he advised Fortune 100 companies, working across practices and industries.
“We have a deep bench of talented leaders at Dine. As a result of our succession planning, today’s announcement demonstrates our ability to tap into the great talent of our management team and ensure a smooth and seamless transition. Both Tony and Scott have deep institutional knowledge about Applebee’s, IHOP, and the industry, and they are the ideal leaders to take us to the next level of growth,” added Peyton.
Tony Moralejo said about the appointment, “Applebee’s is an iconic brand. I’m proud to take on the president role and eager to build on the brand’s great legacy. I’m looking forward to leading Applebee’s through its next chapter and providing guests even more reasons for Eatin’ Good in the Neighborhood.”
About Dine Brands Global, Inc.
Based in Glendale, California, Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries, franchises restaurants under Applebee’s Neighborhood Grill + Bar®, IHOP® and Fuzzy’s Taco Shop® brands. With over 3,500 restaurants combined in 18 countries and 388 franchisees as of December 5, 2022, Dine Brands is one of the largest full-service restaurant companies in the world. For more information on Dine Brands, visit the Company’s website at www.dinebrands.com.
###
Dine Brands Announces Leadership Changes