DineEquity

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DineEquity, Inc.
Type Public
Traded as NYSEDIN
Industry Restaurants
Genre Casual dining
Founded 1976 as IHOP Corp
Headquarters Glendale, California, U.S.
Number of locations 3,600+ in 17 countries
Area served Worldwide
Key people Julia Stewart, CEO
Tom W. Emrey, Chief Financial Officer
Michael J. Archer, President Applebee's International,Inc
Bryan R. Adel, Senior Vice President, Legal, General Counsel and Secretary
John B. Jakubek, Senior Vice President, Human Resources
Greggory H. Kalvin, Senior Vice President and Corporate Controller[1]
Revenue Decrease US$161.3 million
Employees 200,000 team members (including franchisee-and company-operated restaurant employees)
Website dineequity.com

DineEquity, Inc. (NYSEDIN), formerly known as IHOP Corporation, is an American company that both franchises and operates IHOP (International House Of Pancakes) and Applebee's restaurants. The company is headquartered in Glendale, California, and was founded in 1976 as IHOP (International House Of Pancakes) until after it acquired Applebee's when it changed its corporate identity.[2] International, Inc announced on July 16, 2007 that it intended to acquire the bar-and-grill chain Applebee's International, Inc. in an all-cash transaction, that was valued at approximately US$2.1 billion. Under the deal, IHOP paid would pay $25.50 per share for Applebee's. IHOP stated it would franchise most of Applebee's 500 company-owned stores. Applebee's has 1,943 restaurants overall worldwide, including those operated by franchisees.[3]

Julia Stewart, who originally worked as a waitress at IHOP and worked her way up through the restaurant industry, became Chief Executive Officer of IHOP Corporation. She had previously been President of Applebee’s, but left after being overlooked for that company's CEO position. She became CEO of IHOP in 2001, and returned to manage her old company due to the acquisition. [4]

With a larger than 70% vote, Applebee's stockholders approved the takeover, which closed on November 29, 2007. The deal beat 26 other offers to purchase the economically slumping Applebee's. A number of executives from Applebee's voted against the offer. The chain's largest individual shareholder, Applebee's director Burton "Skip" Sack, believed the purchasing price was unfair to the shareholders and planned to take IHOP to court. As part of the purchase, a brand re-marketing scheme and revitalization of the Applebee's image was undertaken.[5]

Board of directors[edit]

On July 9, 2009 DineEquity, Inc. announced the appointment of Mr. Daniel J. Brestle to the Company's Board of Directors,[6] the Board's Compensation Committee as an independent director. Currently, DineEquity has eleven Board members, including Brestle.

"Brestle recently served as vice chairman and president of Estee Lauder Companies Inc. North America, a position he retired from in June 2009 after spending more than 30 years in leadership positions within the Lauder organization and its family of brands." [6]

References[edit]

  1. ^ "Management Biographies". DineEquity, Inc. Retrieved 2 September 2013. 
  2. ^ http://finance.yahoo.com/q/pr?s=din
  3. ^ Tong, Vinnee (16 July 2007). "IHOP to Buy Applebee's for About $1.9B". Associated Press. Archived from the original on 2007-08-19. Retrieved 5 September 2013. 
  4. ^ ABC News: From the Kitchen to the Boardroom
  5. ^ Adamy, Janet (October 31, 2007). "IHOP's Tall Order: Reviving Applebee's". The Wall Street Journal. 
  6. ^ a b http://www.tradingmarkets.com/.site/news/Stock%20News/2413793/

External links[edit]