Applebee’s execs to exit, IHOP says
From Times Wire Services
IHOP Corp., the pancake chain that agreed to buy Applebee’s International Inc. in July, said eight executives from the acquired firm would leave when the transaction was complete.
The departures include Applebee’s Chief Executive Dave Goebel and Chief Financial Officer Steve Lumpkin, Glendale-based IHOP said.
IHOP agreed to buy Overland Park, Kan.-based Applebee’s in July for $2.1 billion, and plans to convert most of the 500 company-owned restaurants to franchises to lower costs.
