Carl's Jr. gets a new brand president as its parent company restructures

CKE Restaurants, which also owns the burger chain Hardee’s, has separated its two fast-food brands and its international development under a trio of executives.


The owner of Hardee's and Carl's Jr. adds a pair of new executives

CKE Restaurant Holdings named former Cracker Barrel executive Jennifer Tate CMO, while it named ex-Yum Brands executive Mike Lenihan CFO.

High Bluff Capital Partners won bidding for 81 of the 108 locations for $16 million. Hardee’s parent CKE Restaurants is buying another nine locations.

A company apparently controlled by High Bluff Capital, the investment firm that owns the restaurant chains, is the stalking horse bidder for half of the 108 restaurants operated by Summit Restaurant Holdings.

The Bottom Line: Soaring food and labor costs made it a lot more difficult for restaurants to generate a profit last year. But both Hardee’s and Burger King had long-term problems that played a bigger role in those bankruptcy filings.

The burger brands are taking the technology from Presto nationwide after tests showed a significant revenue boost.

Summit Restaurant Holdings, which once operated 145 Hardee’s restaurants in Alabama, Florida, Georgia, South Carolina, Kansas, Missouri, Montana and Wyoming, plans to seek a buyer.

The former Papa Johns operations chief will take over as CEO of CKE Restaurants for Ned Lyerly.

Restaurant Rewind: The man knew biscuits and burgers as well as he knew the route to the Super Bowl.

A former owner of the Carolina Panthers NFL team, the North Carolina native made his money as a Hardee's franchisee. He would later operate Quincy's, Denny's and El Pollo Loco, among other restaurant brands.

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