Bloomin’ Brands Inc (NASDAQ: BLMN) said on Monday that it had appointed Michael L. Spanos as its next Chief Executive Officer, effective September 3rd.

Spanos joins Bloomin’ Brands from Delta Air Lines, where he served as Executive Vice President and Chief Operating Officer.

Before his appointment at Delta Air Lines, Spanos was CEO and President of Six Flags Entertainment.

“We have found an ideal strategist, operations and cultural leader in Mike,” Michael Mohan, Chairman of the Board of Bloomin’ Brands, said in a press release.

“Our board believes that his experience operating complex, multi-unit businesses will benefit our iconic, founder-inspired brands. He has a customer-first mindset for leading established organizations through challenging environments. We look forward to his contributions to Bloomin’ Brands.”

Stock Performance

The shares of Bloomin’ Brands Inc (BLMN) closed 2.59% ($0.47) lower at $17.71 on Nasdaq on Monday, as they reversed a gain from the previous market session.

The company’s total market cap now stands at $1.505 billion.

The shares of Bloomin’ Brands Inc (BLMN) went up 39.91% in 2023, compared with a 43.42% gain for the benchmark index, Nasdaq Composite (IXIC).

The company’s shares have retreated 37.09% so far this year.

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