The fast-casual Mexican chain is also giving general managers and longtime employees a one-time equity grant. The stock split, the company’s first in its history, will take place in June. Chipotle’s stock value has increased so much that the company is splitting it in 50. The Newport Beach, Calif.-based Mexican chain on Tuesday announced the… read more
Global Foodservice News
Chris Kempczinski to become McDonald’s chairman
McDonald’s CEO Chris Kempczinski was named chairman of the fast-food burger giant’s board of directors on Tuesday as longtime Chairman Enrique Hernandez announced his retirement. “After careful deliberation about the best succession plan and governance structure to carry McDonald’s forward, the board has determined this is the right moment to evolve the board’s structure, re-combining… read more
HR 7024–Urge Senate to vote for tax relief today!
Business tax breaks face ‘now or never’ moment in Senate It’s crucial for your C-suite to engage their respective Senators during the next 4 weeks. This is the message: Please approve the Tax Relief (H.R. 7024) bill now as restaurants rely on 100% bonus depreciation and business-interest expensing to remain competitive and improve economic growth…. read more
Clorox Announces Divestment in Multiple South American Countries
Clorox announced the sale of certain wholly owned subsidiaries (collectively, “Clorox Argentina”), with operations in Argentina, Uruguay and Paraguay, to Apex Capital, a private equity fund associated with Grupo Mariposa, a 139-year old food and beverage company with operations in 16 countries, and an investment group led by Diego Barral, former senior vice president and general manager… read more
Andrew Silvernail appointed CEO of International Paper
International Paper (NYSE: IP) has announced that its board of directors has selected Andrew Silvernail as chief executive officer (CEO), following an extensive evaluation process. Effective May 1, 2024, Silvernail will take over the position from Mark Sutton, who had previously announced the final phase of the CEO succession process. Sutton will continue to serve… read more
Kruger Products increases production of facial tissues in Quebec
Kruger Products is expanding production of its Scotties facial tissues at its Richelieu plant in Gatineau, Quebec. Through an expansion project involving a total investment of $14.5 million and the creation of 16 new jobs, Kruger Products inaugurated a new facial tissue converting line at the plant in November 2023. This new addition will allow… read more
Panera Bread digital channels suffer national outage
Panera Bread’s digital channels have been knocked down by an unexplained outage that began over the weekend. The fast-casual chain’s website and app have been down since Saturday morning, which was first reported by the Silicon Valley Daily. Stores are open, but only for ordering at the register. Even kiosks in units were down and… read more
DoorDash hires leaders from Standard AI to help grow its AI voice product
Standard AI’s CEO and co-founders are joining the delivery company as it makes a bigger push into artificial intelligence. DoorDash is making a big push into artificial intelligence. The restaurant delivery provider is hiring several leaders from tech firm Standard AI to help develop its AI voice ordering system, according to a Bloomberg report that… read more
LG Electronics Invests $60M In Fellow Robot Maker
The California-based manufacturer will look for new product applications and territories. Redwood City, Calif.-based Bear Robotics—a past Kitchen Innovations recipient that manufactures hospitality-geared robots—has completed a $60 million Series C funding round led exclusively by LG Electronics. With the new cash infusion, Bear Robotics aims to enter new territories as well as target “emerging markets”… read more
Maximize Your HVAC Business Potential: A Deep Dive into Google Business Profile Strategies
In the vast world of digital marketing, one tool stands out as a game-changer for HVAC contractors – the Google Business Profile. Imagine having a 24/7 virtual storefront that not only showcases your skills but also brings in a steady stream of local customers. In this article, we’ll explore the pivotal role of a Google… read more