DineEquity
 | |
Formerly called |
IHOP Corporation (1976–2008) |
|---|---|
| Public | |
| Traded as |
NYSE: DIN S&P 600 Component |
| Industry | Restaurants |
| Genre | Casual dining |
| Founded |
1976 (as IHOP Corporation) June 2, 2008 (as DineEquity) |
| Headquarters | Glendale, California, U.S. |
Number of locations | 3,716 in 20 countries (2015)[1] |
Area served | Worldwide |
Key people |
Richard Dahl, Chairman and Interim CEO Darren Rebelez, President IHOP John Cywinski, President Applebee's Daniel del Olmo, President International 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[2] |
| Revenue |
 US$681.1 million[1] |
Number of employees | 200,000 team members (including franchisee-and company-operated restaurant employees) |
| Subsidiaries |
IHOP Applebee's |
| Website | dineequity.com |
DineEquity, Inc., formerly known as IHOP Corporation, is an American company that franchises and operates IHOP and Applebee's restaurants. The company is headquartered in Glendale, California, and was founded in 1976 as IHOP until after it acquired Applebee's when it changed its corporate identity.[3] IHOP Corporation 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 $25.50 per share for Applebee's. IHOP stated it would franchise most of Applebee's 500 company-owned stores. In 2015, Applebee's had 2,033 restaurants overall worldwide, all operated by franchisees.[1][4]
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. She was fired in March 2017. [5]
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.[6]
Board of directors
On July 9, 2009 DineEquity, Inc. announced the appointment of Daniel J. Brestle to the Company's Board of Directors,[7] 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." [7]
See also
References
- 1 2 3 "2015 DineEquity Annual Report" (PDF). Retrieved 11 August 2017.
- ↑ "Management Biographies". DineEquity, Inc. Retrieved 2 September 2013.
- ↑ "DIN Profile - DineEquity, Inc Stock - Yahoo Finance". finance.yahoo.com. Retrieved 11 August 2017.
- ↑ 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.
- ↑ News, A. B. C. (9 February 2009). "From the Kitchen to the Boardroom". ABC News. Retrieved 11 August 2017.
- ↑ Adamy, Janet (October 31, 2007). "IHOP's Tall Order: Reviving Applebee's". The Wall Street Journal.
- 1 2 http://www.tradingmarkets.com/.site/news/Stock%20News/2413793/