Dive Brief:
- Portillo’s has appointed Brett Patterson as president and CEO, effective Feb. 23, the company said in a Wednesday press release. He will also join the company’s board of directors.
- He will succeed interim CEO Michael Miles Jr., current chairman of the board, who stepped into the role following Michael Osanloo’s departure from the chain. Portillo’s has seen sluggish same-store sales in recent quarters.
- Patterson has over a decade of restaurant management experience, most recently serving as CEO at Miller’s Ale House Restaurants, according to his LinkedIn profile.
Dive Insight:
In his new role, Patterson will oversee the company’s overall strategy, focusing on market positioning, new restaurant growth and operational excellence. He will also continue to invest in team members and improve the guest experience.
He has substantial experience in operations, team development and driving growth, per the press release. His resume includes experience at Olive Garden, Ruby Tuesday and Outback Steakhouse, according to his LinkedIn profile.
“Brett has all the right qualities to lead Portillo’s into its next chapter of growth,” Miles said in a statement. “He brings the strategic mindset, operations expertise, and leadership style needed to grow this brand, while preserving what makes Portillo’s so special and unique. Having worked his way up through the ranks and served in virtually every operational role within a restaurant, he understands the business from the ground up and the people who make it a success every day.”
William Blair analyst Sharon Zackfia said in a report that Patterson may face a learning curve as he enters his new role.
“Portillo’s will mark his first leadership position in the fast-casual space, in which he will have to marry his operational chops from casual dining with the speed necessary to compete in limited service,” Zackfia wrote. “He will also spearhead Portillo’s continued evolution to smaller boxes to support better unit-level returns.”
Zackfia added that Patterson’s extensive operational experience and people-first mindset will “translate well.”
One area Patterson will likely focus on is sustainable unit growth. The company said last year that it would slow down its unit growth and focus on its core markets after recent openings in Texas underperformed. In Houston, the company opened five restaurants within a 20-mile radius, but those restaurants cannibalized each other and did the same sales volume expected of two, Miles said in January during the ICR Conference.
“We opened more restaurants more quickly than I would have liked,” Miles said. “We don’t need to do this because there’s so much white space for Portillo’s in the country.”
