El Pollo Loco COO Abruptly Quits

(RTTNews) - Chicken restaurant chain El Pollo Loco Holdings Inc. (LOCO) said that Kay Bogeajis has stepped down from the position of chief operating officer, effective March 31, 2016. She has decided to leave the company to pursue personal interests.

The California-based fast-food company said that Bogeajis' responsibilities will be transitioned to other internal resources, while it will search for a successor.

Steve Sather, President and CEO of El Pollo Loco, said, "I would like to thank Kay for the valuable contributions she has made to our team over the last three years. I wish her well in all of her future endeavors."

In a separate statement, El Pollo Loco said that it has appointed William "Bill" Floyd and Carol "Lili" Lynton as independent members of its board of directors, effective April 1, 2016.

Floyd was chief operating officer of Taco Bell and KFC, both of which at the time were part of PepsiCo's Restaurant Division, and the chairman of the board of Buffet Holdings, Inc., a billion dollar family dining restaurant concept.

Lynton is an experienced executive with extensive restaurant industry and financial industry experience. She is the co-founder and operating partner of Dinex Group, a specialty restaurant business launched in 1992 along with New York chef Daniel Boulud, which currently operates 17 Boulud-branded restaurants.

El Pollo Loco's chicken restaurant chain is known for its citrus-marinated, fire-grilled chicken and handcrafted entrees using fresh ingredients inspired by Mexican recipes. The company has more than 430 company-owned and franchised restaurants in Arizona, California, Nevada, Texas and Utah.

El Pollo Loco's business was negatively impacted last year after it attempted to raise prices and scaled back on value menus. However, the company has brought back the $5 menu combination meals.

In early March, shares of El Pollo Loco fell after the company forecast fiscal 2016 earnings below analysts' estimates.