IHOP has announced a leadership transition with the retirement of President Jay Johns after nearly six years at the helm. Lawrence Kim, who previously served as the Chief Innovation Officer at Yum! Brands, has been appointed as the new president. Under Johns' leadership, IHOP successfully adapted to the challenges posed by the pandemic, with a focus on increasing off-premise dining, curbside pickup, and delivery services. The brand also prioritized digital initiatives and technology, including the launch of its loyalty program.
During Johns' tenure, IHOP significantly expanded its menu offerings, introducing all-day breakfast and overhauling the menu with items such as eggs benedict and gourmet burgers. The brand's market position strengthened, with over 1,800 restaurants operating globally across 13 countries outside the U.S.
Lawrence Kim brings over 20 years of leadership experience to IHOP, with a track record of success in global brand strategy, marketing, and digital innovation. He expressed his excitement about joining the IHOP team and highlighted his commitment to ensuring IHOP remains an integral part of family culture for generations to come.
As of June 30, 2024, there were 1,811 IHOP restaurants worldwide, including locations in all 50 states, two U.S. territories, and 13 countries outside the United States. IHOP restaurants are franchised by affiliates of Pasadena, California-based Dine Brands Global, Inc. (NYSE: DIN). The market has reacted to these announcements by moving the company's shares -0.7% to a price of $30.34. If you want to know more, read the company's complete 8-K report here.
