Red Robin CEO Murphy to retire at the end of the year

Red Robin Gourmet Burgers Inc. said late Wednesday that Chief Executive Officer Paul Murphy will retire at the end of the year, when his employment agreement expires. Murphy will assist the fast-casual restaurant chain’s board in the search for a new CEO and will remain as a special adviser until the end of March to “ensure a smooth transition,” the company said. Murphy joined Red Robin in October 2019, saying at the time he planned to serve for three years as a transition leader “to quickly improve operating execution and overall performance.” Shares of Red Robin rose 1.2% in the extended session Wednesday after ending the regular trading day up more than 5%.

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