DineEquity, Inc. (NYSE: DIN), the parent company of Applebee's Neighborhood Grill & Bar® and IHOP® restaurants, today announced that Steven Layt has been appointed President of Applebee’s, effective February 25, 2014. Michael Archer, former President of Applebee’s, is leaving to pursue other opportunities.
“I want to thank Mike for his commitment and dedication to the Applebee’s brand,” said Julia Stewart, DineEquity’s Chairman and Chief Executive Officer. “He made a great contribution to the business during his tenure as the President of Applebee’s.”
Mr. Layt has held the role of Senior Vice President of Operations for Applebee’s since January of 2012. Prior to joining DineEquity, Mr. Layt was the Chief Operating Officer at Buffets Inc. and held a number of senior management positions globally and in the United States with YUM! Brands.
“Steve is an outstanding leader,” said Ms. Stewart. “He is well-respected by the Applebee’s franchisees, is a true innovator and a team player. We look forward to him moving the Applebee’s brand ahead.”
Based in Glendale, California, DineEquity, Inc., through its subsidiaries, franchises and operates restaurants under the Applebee’s Neighborhood Grill & Bar and IHOP brands. With more than 3,600 restaurants combined in 20 countries, over 400 franchisees and approximately 200,000 team members (including franchisee- and company-operated restaurant employees), DineEquity is one of the largest full-service restaurant companies in the world.
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