Portillo’s (NASDAQ: PTLO) has appointed Eugene I. Lee, Jr., a veteran of the restaurant industry and award-winning foodservice leader, to its Board of Directors.
Under Lee's leadership, Darden Restaurants experienced significant growth, with revenues increasing by more than $2 billion and market capitalization nearly tripling to $20 billion. His appointment is supported by Engaged Capital, LLC, and is aligned with the terms of Portillo’s previously announced cooperation agreement.
Lee's extensive experience across the restaurant industry includes serving as CEO at Darden Restaurants from 2015 to 2022 and as Chairman of the Darden Board from 2021 to 2023. He is also the Independent Board Chair for Advance Auto Parts.
Portillo’s, known for its Chicago-style favorites, has grown to more than 90 restaurants across 10 states. The brand's loyalty program, Portillo’s Perks, and its mobile app allow guests to earn and redeem rewards, order ahead for pickup or delivery, and enjoy their favorite Chicago-style dishes.
Portillo’s is poised for continued growth with Lee's appointment, as he is expected to contribute to the company's growth strategy and strong unit economics. Today the company's shares have moved -3.46% to a price of $11.44. For more information, read the company's full 8-K submission here.
