Dive Brief:
- Jack in the Box named Lance Tucker as permanent CEO on Monday, the company said in a press release.
- Tucker had served as CEO in an interim capacity since the departure of Darin Harris in late February, and worked as CFO at the company for two stints — one from 2018 to 2020 and a second beginning in November 2024, according to the press release.
- Tucker said Jack in the Box has many priorities it needs to address quickly, including capital allocation, free cash flow acceleration and a shift toward an asset-light, primarily franchised business model, which has been a priority since its acquisition of Del Taco.
Dive Insight:
Despite his emphasis on quickly addressing strategic priorities, Tucker said Jack in the Box was in a sound position.
“I am thrilled to have the confidence of the Board, as well as our talented leadership team, to lean on the many strong fundamentals already in place to help restore Jack in the Box as a shareholder success story,” Tucker said in the press release.
In addition to his two periods as CFO at Jack in the Box, Tucker has significant restaurant experience. Notably, he spent almost a decade at Papa Johns International, according to his LinkedIn profile.
Jack in the Box, like many QSR brands, has been working hard to prevent a disastrous drop in same-store sales. The burger brand and Del Taco both saw same-store sales decline in fiscal 2024. That decrease continued in Q1 fiscal 2025 for Del Taco, which saw a drop of 4.5%, but Jack in the Box managed to boost its sales by 0.4% in the quarter.
The company has revived Jack Box, its suit-wearing clown mascot, for a series of media appearances across platforms, including podcasts. This latest campaign is intended to embed the brand more firmly in contemporary culture.
At the same time, Jack in the Box has pushed value messaging with its Munchies Under $4 menu that launched in late spring 2024. Earlier this year, Del Taco followed a similar course, adding new burritos and value packages.
Still, the macroeconomic situation remains a major problem. On the chain’s most recent earnings call, Tucker said the brands “are running negative quarter-to-date and expect a negative Q2 same-store sales result for both brands.”
Despite this sales pressure, Jack in the Box has managed two years of unit growth based on new franchising deals. It recently landed a 15-unit agreement for Georgia and another franchising agreement that will bring it back to Chicago for the first time in decades.
Dawn Hooper, Jack in the Box’s senior vice president and controller since 2022, will serve as interim principal financial officerCFO, according to the press release.
