Red Robin Gourmet Burgers, Inc. Announces Board Changes Following Completion of Refinancing
Red Robin announced that activist-affiliated directors James Pappas (JCP Investment Management) and Chris Martin (Jumana Capital) resigned from the board effective October 23, 2026, shrinking the board to six directors, five of them independent. The departures follow the substantial completion of Red Robin's refranchising program — more than 100 company-operated restaurants sold — and an October refinancing with a new five-year, $115 million senior secured facility led by JPMorgan Chase Bank, comprising a $90 million term loan and $25 million revolver.
Key figures
- Revolver usd
- 25000000
- Facility term
- five-year
- Term loan usd
- 90000000
- Board size after
- 6
- Independent directors
- 5
- Restaurants refranchised
- more than 100
- Credit facility total usd
- 115000000
AI analysis
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