has stepped down as CEO of the Noodles & Company
fast-casual chain, surrendering day-to-day operations to CFO Dave Boennighausen until a permanent replacement is found.
Reddy’s duties as chairman have been assumed on an interim basis by Bob Hartnett.
Reddy resigned as the company was preparing to release second-quarter financial results. Preliminary results show Noodles suffering a 1% year-over-year decline in same-store sales for the quarter, continuing a downturn the chain has been unable to shake for more than two years.
Reddy, who began his career as a McDonald's crewmember, had served as CEO for 10 years.
“After many years with this great company, I have decided that it is the right time in my career to pursue new personal and financial opportunities,” he said in a statement.