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): February 26, 2014
DineEquity, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware |
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95-3038279 |
(State or other jurisdiction |
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(I.R.S. Employer |
450 North Brand Boulevard, Glendale, California |
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91203-2306 |
(Address of principal executive offices) |
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(Zip Code) |
(818) 240-6055
(Registrants 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):
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 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On February 26, 2014, DineEquity, Inc., a Delaware corporation (the Corporation), announced that Michael Archer, former President of Applebees, would be leaving the Corporation effective March 3, 2014.
(e) Upon his departure from the Corporation, Mr. Archer will be entitled to severance payments and benefits consistent with his Employment Agreement, dated as of November 1, 2008, and certain other previously disclosed compensation arrangements.
Item 7.01. Regulation FD.
On February 26, 2014, the Corporation issued a press release announcing the appointment of Steven Layt as the President of Applebees effective February 25, 2014. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information contained in this Item 7.01, including the related information set forth in the press release attached hereto and incorporated by reference herein, 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 |
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Description |
99.1 |
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Press Release issued by the Corporation on February 26, 2014. |
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: February 26, 2014 |
DINEEQUITY, INC. | |
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By: |
/s/ Bryan R. Adel |
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Bryan R. Adel |
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Senior Vice President, Legal, General Counsel and Secretary |
Exhibit Index
Exhibit |
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Description |
99.1 |
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Press Release issued by the Corporation on February 26, 2014. |
Exhibit 99.1
Media Contact
Kevin Mortesen
VP, Communications
818-637-3629
DineEquity, Inc. Announces Appointment of
Steven Layt as President of Applebees
GLENDALE, Calif., February 26, 2014 DineEquity, Inc. (NYSE: DIN), the parent company of Applebees Neighborhood Grill & Bar® and IHOP® restaurants, today announced that Steven Layt has been appointed President of Applebees, effective February 25, 2014. Michael Archer, former President of Applebees, is leaving to pursue other opportunities.
I want to thank Mike for his commitment and dedication to the Applebees brand, said Julia Stewart, DineEquitys Chairman and Chief Executive Officer. He made a great contribution to the business during his tenure as the President of Applebees.
Mr. Layt has held the role of Senior Vice President of Operations for Applebees since January of 2012. Prior to joining DineEquity, Mr. Layt was the Chief Operating Officer at Buffets Inc. and held a number of senior management positions globally and in the United States with YUM! Brands.
Steve is an outstanding leader, said Ms. Stewart. He is well-respected by the Applebees franchisees, is a true innovator and a team player. We look forward to him moving the Applebees brand ahead.
About DineEquity, Inc.
Based in Glendale, California, DineEquity, Inc., through its subsidiaries, franchises and operates restaurants under the Applebees Neighborhood Grill & Bar and IHOP brands. With more than 3,600 restaurants combined in 20 countries, over 400 franchisees and approximately 200,000 team members (including franchisee- and company-operated restaurant employees), DineEquity is one of the largest full-service restaurant companies in the world. For more information on DineEquity, visit the Companys Web site located at www.dineequity.com.
Forward-Looking Statements
Statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words such as may, will, should, expect, anticipate, believe, estimate, intend, plan and other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results to be materially different from those expressed or implied in such statements. These factors include, but are not limited to: the effect of general economic conditions; the Companys indebtedness; risk of future impairment charges; trading volatility and the price of the Companys common stock; the Companys results in any given period differing from guidance provided to the public; the highly competitive nature of the restaurant business; the Companys business strategy failing to achieve anticipated results; risks associated with the restaurant industry; risks associated with locations of current and future restaurants; rising costs for food commodities and utilities; shortages or interruptions in the supply or delivery of food; ineffective marketing and guest relationship initiatives and use of social media; changing health or dietary preferences; our engagement in business in foreign markets; harm to our brands reputation; litigation; Fourth-party claims with respect to intellectual property assets; environmental liability; liability relating to employees; failure to comply with applicable laws and regulations; failure to effectively implement restaurant development plans; our dependence upon our franchisees; concentration of Applebees franchised restaurants in a limited number of franchisees; credit risk from IHOP franchisees operating under our previous business model; termination or non-renewal of franchise agreements; franchisees breaching their franchise agreements; insolvency proceedings involving franchisees; changes in the number and quality of franchisees; inability of franchisees to fund capital expenditures; heavy dependence on information technology; the occurrence of cyber incidents or a deficiency in our cybersecurity; failure to execute on a business continuity plan; inability to attract and retain talented employees; risks associated with retail brand initiatives; failure of our internal controls; and other factors discussed from time to time in the Companys Annual and Quarterly Reports on Forms 10-K and 10-Q and in the Companys other filings with the Securities and Exchange Commission. The forward-looking statements contained in this release are made as of the date hereof and the Company assumes no obligation to update or supplement any forward-looking statements.