UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 7, 2008
IHOP CORP.
(Exact name of registrant as specified in its charter)
Delaware |
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001-15283 |
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95-3038279 |
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(Commision |
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(I.R.S. Employer |
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450 North Brand, Glendale, California |
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91203 |
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(Address of principal executive offices) |
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(Zip Code) |
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(818) 240-6055 |
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Registrants telephone number, including area code |
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Not applicable |
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(Former Name or Former Address, if Changed Since Last Report) |
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events
On May 7, 2008, IHOP Corp. issued a press release announcing the appointment of Michael J. Archer to the position of president of Applebees International, Inc., effective May 27, 2008.
A copy of the press release is attached as an exhibit to this report.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit |
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Description |
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99.1 |
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Press release of Registrant, dated May 7, 2008. |
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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 hereunto duly authorized.
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IHOP CORP. |
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Date: May 9, 2008 |
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By: |
/s/ THOMAS G. CONFORTI |
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Thomas G. Conforti |
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Chief Financial Officer (Principal Financial Officer) |
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EXHIBIT INDEX TO CURRENT REPORT ON FORM 8-K
Exhibit |
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Description |
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99.1 |
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Press release of Registrant, dated May 7, 2008. |
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Exhibit 99.1
IHOP CORP.
FOR IMMEDIATE RELEASE
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Stacy Roughan Director, Investor Relations IHOP Corp. 818-637-3632 |
IHOP CORP. APPOINTS MIKE ARCHER PRESIDENT OF
APPLEBEES INTERNATIONAL
GLENDALE, Calif., May 7, 2008 IHOP Corp. (NYSE: IHP) (the Company) today announced the appointment of Michael J. Archer to the position of president of Applebees International, Inc., effective May 27, 2008. In this position, Archer will be accountable for leading the overall strategic direction for all functional areas of Applebees Neighborhood Grill and Bar. He will be primarily responsible for executing the vision and future brand evolution for the organization, driving excellence within all functional disciplines, leading an effective and aligned leadership team, forging strong franchise relationships, and developing tactical and strategic plans to improve results in all areas of the business. Archer will be based out of Applebees Restaurant Support Center in Lenexa, Kansas.
Julia A. Stewart, IHOP Corp.s chairman and chief executive officer, said, We are pleased to welcome Mike to the Applebees team. He possesses a keen understanding of the restaurant industry, particularly the grill and bar category that Applebees competes in, and is a motivational, hands-on leader ideally suited to the needs of our organization. Mike will report directly to me, and I look forward to partnering with him as we work collaboratively with our franchisees to re-energize the Applebees brand, improve the operational performance of our company-operated and franchise restaurants, and continue the transformation of our business model. I will remain actively involved in defining the companys strategic direction and implementing key initiatives to drive our marketing efforts and improve our operational execution.
Archer commented, Applebees is one of the most respected casual dining concepts in the restaurant industry and I am looking forward to working closely with associates and franchisees as we revitalize this great brand.
Archer most recently served as president and chief operating officer of T.G.I. Fridays U.S.A., a subsidiary of Carlson Restaurants Worldwide Inc, where he was accountable for T.G.I. Fridays USA brand strategy including operations, marketing, research and development, strategic sourcing, franchise operations, public relations and human resources. During his tenure, Archer and his team lead the successful turnaround of the T.G.I. Fridays brand, including reversing a five-year decline of comparable store sales and guest counts, improving restaurant operating profit, and improving the guest experience measure to an all-time high.
Previously, Archer was president and chief executive officer of ZTejas Southwestern Grill where he repositioned the concept, developed new brand positioning, led new restaurant expansion, and established new service and operational standards, among other accomplishments. Prior to that, he held the position of chief operating officer of Sullivans and Del Friscos where he was responsible for developing the Sullivans Steakhouse concept for Lone Star Steakhouse and Saloon. Archer also served at Mortons Restaurant Group, Inc. as president and chief operating officer of Mortons of Chicago, Inc. where he led the growth of this premiere steakhouse
IHOP Corp.
concept. Throughout his thirteen-year career with Mortons, he also held the position of chief financial officer during which time he successfully negotiated two leveraged buyouts.
Archer is known as one of the most effective operators and executives in the restaurant industry, reflected in the numerous awards and recognitions he has received throughout his twenty-five year restaurant career. Honors include being recognized as one of Restaurant Hospitalitys Rising Stars; being named as one of the Power 50 ~ The Next Generation by Nations Restaurant News; and being awarded the High Impact Restaurant Leadership Awards ~ Upscale Dining by Restaurant Business, among other accomplishments. Dedicated to ensuring the development of others in the industry, Archer has been active with the MultiCultural Foodservice and Hospitality Alliance and the Womens Foodservice Forum (WFF) where he serves on the Board of Directors and Executive Committee.
Archer received his BBA in accounting from St. Norbert College in DePere, Wisconsin.
About IHOP Corp.
Based in Glendale, California, IHOP Corp. franchises and operates restaurants under the International House of Pancakes, or IHOP, and the Applebees Neighborhood Grill & Bar brands. With more than 3,300 restaurants combined, IHOP Corp. is the largest full-service restaurant company in the world. IHOP Corp.s common stock is listed on the NYSE under the symbol IHP. For more information on IHOP Corp., visit the Investor Relations section of the Companys Web site located at www.ihop.com.
Forward-Looking Statements
There are forward-looking statements contained in this news release. They use such words as may, will, expect, believe, plan, or other similar terminology, and include statements regarding the strategic and financial benefits of the acquisition of Applebees International, Inc., expectations regarding integration and cost savings, and other financial guidance. These statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results to be materially different than those expressed or implied in such statements. These factors include, but are not limited to: the implementation of the Companys strategic growth plan; the availability of suitable locations and terms for the sites designated for development; the ability of franchise developers to fulfill their commitments to build new restaurants in the numbers and time frames covered by their development agreements; legislation and government regulation including the ability to obtain satisfactory regulatory approvals; risks associated with executing the Companys strategic plan for Applebees; risks associated with the Companys incurrence of significant indebtedness to finance the acquisition of Applebees; the failure to realize the synergies and other perceived advantages resulting from the acquisition; costs and potential litigation associated with the acquisition; the ability to retain key personnel after the acquisition; conditions beyond the Companys control such as weather, natural disasters, disease outbreaks, epidemics or pandemics impacting the Companys customers or food supplies; or acts of war or terrorism; availability and cost of materials and labor; cost and availability of capital; competition; continuing acceptance of the IHOP, International House of Pancakes and Applebees brands and concepts by guests and franchisees; the Companys overall marketing, operational and financial performance; economic and political conditions; adoption of new, or changes in, accounting policies and practices; and other factors discussed from time to time in the Companys news releases, public statements and/or filings with the Securities and Exchange Commission, especially the Risk Factors
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sections of Annual and Quarterly Reports on Forms 10-K and 10-Q. Forward-looking information is provided by IHOP Corp. pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of these factors. In addition, the Company disclaims any intent or obligation to update these forward-looking statements.
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