This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SONIC Drive-In Strengthens Senior Management Team As Growth Accelerates

SONIC Drive-In (NASDAQ: SONC), the nation’s largest chain of drive-in restaurants, today announced the hiring of John Budd in the newly created role of chief development and strategy officer. In this role, Budd will oversee franchise sales, real estate and construction – both domestically and internationally. Additionally, in conjunction with the chief executive officer, Budd will lead and assist in further development of key strategic initiatives for the company. He will report directly to Clifford Hudson, chairman, chief executive officer and president of Sonic Corp.

“Over the last few years we have successfully implemented a number of initiatives to build our brand and business,” said Hudson. “These initiatives have resulted in solid same-store sales and profit growth for our company and franchisees and an increased share price for our shareholders. John’s rich background in corporate development and strategy will serve as an asset to the SONIC brand as we continue to grow.”

Budd joins SONIC from the Boston Consulting Group, where he served as a partner and managing director. In that role, he gained relevant experience helping restaurant brands create successful management strategies, drive unit growth, implement long-term menu innovation and improve same-store sales and profits. Prior to his work with Boston Consulting Group, he held various domestic and international roles of increasing accountability with General Electric.

“While I come from the world of consulting, I have a track record of demonstrated impact. I’m eager to apply my experience and skill set to SONIC’s long-term strategy and growth,” said Budd. “I’m thrilled to be joining the talented leadership team at SONIC at the perfect time. They’ve got a clear vision, a strong brand and momentum. And now, it’s time to use this momentum to take the brand to new heights.”

Budd graduated from the Wharton School at the University of Pennsylvania with a B.S. in Economics and earned his M.B.A. from the Kellogg School of Management at Northwestern University.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs