Monday, November 18, 2024
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Shake Shack

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Shake Shack President and CFO to Step Down in May

by Katie Lee

New York City — Shake Shack Inc. has announced that Tara Comonte, president and chief financial officer for the last 4 years, will depart the company in May to become CEO of a private company outside of the restaurant industry. Comonte, who joined Shake Shack in 2017, will remain in her current role through May 7, 2021 to oversee the company’s fiscal first quarter 2021 reporting period and ensure a thorough transition of her responsibilities. The company is in the process of retaining a firm to manage the search for …

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Shake Shack Expanding in New South China Markets

by Katie Lee

New York City — Shake Shack Inc. and licensee Maxim’s Caterers Limited have expanded their partnership, with plans to open a minimum of 15 Shacks in South China by 2030, including locations in Shenzhen, Guangzhou, Fuzhou and Xiamen. The Shenzhen location is slated to open next year. Together, Shake Shack and Maxim’s Caterers Limited plan to operate 55 Shacks in mainland China by 2030. Maxim’s currently operates Shake Shack locations in Shanghai and Hong Kong, with Beijing and Macau in development with goals to open later in 2020. As a …

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Shake Shack to Return $10 Million Coronavirus Stimulus Loan

by Katie Lee

New York City — Shake Shack will return a $10 million coronavirus stimulus loan it received through the federal government’s Small Business Administration Paycheck Protection Program (PPP). The New York City-based burger chain said it will return the funds after garnering capital through its investors. Shake Shack received the $10 million loan April 10. Shake Shack operates 189 restaurants and employs about 8,000 workers.   SOURCE: ShoppingCenterBusiness.com

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Shake Shack Strengthens Executive Team

by Katie Lee

New York City — Shake Shack has appointed a new chief development officer, chief global licensing officer, chief information officer and chief marketing officer, as well as the addition of its ninth board member. All four positions represent new roles at the company, filled with a balanced team of internal and external talent. With sizeable growth ahead, Shake Shack’s team of senior leaders will be instrumental in its strategic growth. Andrew McCaughan, formerly vice president of development at Shake Shack, has been promoted to chief development officer. He will be …

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