Denny’s President John Dillon ceased being an executive officer on Monday, the company said in a SEC filing Thursday. Kelli Valade, Denny’s CEO, has assumed the role of president. Dillon has agreed to stay at the company in a non-executive position through the end of fiscal 2023, reporting to Valade, who joined the brand as top executive last year. Dillon will help Valade during the transition period.
The termination of Dillon’s employment will be considered without cause, per the filing. Dillon will continue to receive his base salary at the current rate during the transition period. If he remains at the company through the transition period, he will be eligible for full 2023 fiscal year annual incentive award under the company’s corporate incentive plan. Dillon will receive 12 months of salary continuation, among other severance benefits.
Dillon became president in August 2022 when he was promoted from chief brand officer. He joined Denny’s in 2007 as senior director, marketing and insights, according to his LinkedIn profile. He was later promoted to CMO in October 2014. He began his career with Yum in 1995 as director of marketing, insights and strategy. His experience also includes working as CMO for the Houston Rockets.
