Kerry Kramp is out as CEO of Sizzler USA, the company confirmed Wednesday.
Sizzler said in a terse, one-paragraph statement that Kramp left “to pursue other business endeavors.”
Sizzler also said that it has “used this time to reorganize our support center so that we can better serve our franchisees.” The company did not name a successor.
“We have never been more excited about the prospects of our unique business model,” controlling owner and Chairman Kevin Perkins said in a statement.
The Restaurant Finance Monitor said that several other executives, including Chief Strategic Officer Dennis Scott, also left the company. A Sizzler representative confirmed the departures on Thursday.
Sizzler, however, has seen steady declines in sales in recent years. That includes a 2.5% decline in U.S. system sales last year, according to data from Restaurant Business sister company Technomic.
System sales have declined 11% over the past five years, to $267 million from $300 million, according to Technomic. Unit count declined to 130 from 156.
The company’s compound annual growth rate over the past five years has been -2.4%, according to Technomic Ignite data. That’s actually higher than the -5.5% average for similar chains.
Kramp has been the CEO of the venerable buffet chain since 2008, a time in which he was almost never seen at a conference or an event without a Sizzler logoed shirt. Kramp was part of a management group that invested in the chain in 2011.
UPDATE: This story has been updated to include additional information.
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