Portillo's

Leadership

Portillo's Restaurant of the Future just didn't come soon enough

The fast-casual chain's CEO stepped down this week amid disappointing results. Would things be different if Portillo's had brought buildout costs down faster?

Leadership

Michael Osanloo ousted as Portillo's president, CEO

Board chair Michael Miles Jr., who was named interim CEO, said the chain's recent performance has not measured up to expectations.

The Bottom Line: The fast-casual Italian beef chain has long been something of an oddball with a broad menu and big restaurants. Now its sales are slowing and its expansion strategy is in question.

The fast-casual Italian beef chain lowered its expectations for the third quarter, sending its shares down more than 7%. The company plans to simplify operations and highlight value.

The appointment was supported by activist investor Engaged Capital LLC, which has been seeking board changes at fast-casual Portillo's for months. Lee brings deep industry experience.

Marketing Bites: With the memes flowing like holy water, restaurants specializing in Italian Beef, pizza and more craft some real-time marketing miracles.

Engaged Capital had nominated Charlie Morrison to Portillo's board, but Morrison took a gig as CEO of Jersey Mike's. Now the fast-casual Portillo's plans to work with the investor to find an alternative.

Five locations in the Chicago area will offer the limited-time pilot, starting April 15. Company officials say the test is a response to longtime demand.

The Chicago-based fast casual will start testing a morning menu at select restaurants on April 15.

The activist investor hopes to put two ex-Salad and Go executives on the Chicago-based fast-casual chain's board: former CEO Charlie Morrison and former CMO Nicole Portwood.

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