Restaurant chain collector Fat Brands on Monday named two people to take over the role being ceded by Andy Wiederhorn later this week.
Ken Kuick, who has been the Los Angeles-based company’s CFO, and Rob Rosen, its EVP of capital markets, will become co-CEOs on Friday. They will take over the day-to-day responsibilities of running the company for Wiederhorn, its founder and CEO, who is stepping aside to avoid the distraction of a federal investigation into his family.
The two will also maintain their previous roles even as they take over company leadership.
Kuick joined the company in 2021 as its CFO and previously worked with Noodles & Co. Rosen has more than 30 years of structured finance experience. The two “have played a tremendous role in the unprecedented growth of Fat Brands,” Wiederhorn said in a statement. “Their financial acumen and track record for hitting key company benchmarks make them well-positioned to take on the CEO role together.”
The move follows an active period for Fat Brands. Fog Cutter Capital, Fat Brands’ controlling shareholder and the Wiederhorn family’s investment firm, replaced most of its board of directors and labeled itself a controlled company.
That came one month after Wiederhorn announced his decision to step aside and become a strategic advisor to the company. He did not name a replacement, however, until Monday. Both of those replacements will remain in their day-to-day jobs and Wiederhorn will remain involved in Fat Brands, however.
Fat Brands is the owner of several restaurant chains, including Twin Peaks, Fatburger, Fazoli’s and Johnny Rockets. Most of those were acquired in a 2021 shopping spree that totaled nearly $1 billion. Most of that was financed with debt.
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