Jack in the Box ousts CEO Tucker as sales slide stretches to five quarters
Mark King steps in as interim CEO after Q2 same-store sales fell 3.8%, restaurant margin compressed to 16.4% from 19.6%, and net earnings dropped 40% to $12.5M. The 'Jack on Track' turnaround plan has yet to halt the bleed.
Jack in the Box names Mark King interim CEO, replacing Lance Tucker, after five straight quarters of same-store sales declines. Q2 comps fell 3.8%, margins compressed, and net earnings dropped 40% to $12.5M as 'Jack on Track' plan continues.