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| SONC > SEC Filings for SONC > Form 8-K on 11-Sep-2009 | All Recent SEC Filings |
11-Sep-2009
Change in Directors or Principal Officers, Financial Statements and Exhibits
On September 8, 2009, the Company announced that Omar Janjua has joined the Company as President of the Company's restaurant operating subsidiary, Sonic Restaurants, Inc. ("SRI"). Mr. Janjua, age 51, served as Executive Vice President and Chief Operating Officer for The Steak 'n Shake Company since 2007, where he was responsible for the operations of 490 system restaurants with annual revenues of approximately $700 million. Prior to joining Steak 'n Shake, Mr. Janjua worked for 18 years with Yum Brands, Inc. in its Pizza Hut operations in various positions of increasing responsibility, lastly as Vice President of company operations overseeing 817 restaurants with annual revenues in excess of $800 million.
Contingent on Board approval at the next quarterly Board meeting, the Company expects to enter into an employment agreement with Mr. Janjua on similar terms as entered into with the Company's other executive officers, as described in the Company's proxy statement, with a base salary of $325,000, and to grant Mr. Janjua an award of stock options, consistent with the formula used by the Board for granting options to other new executive officers. Mr. Janjua will also participate in the Company's short-term and long-term incentive compensation programs offered to the Company's executive officers.
Also on September 8, 2009, E. Edward Saroch, who had served as President of SRI since May 2008, moved to the new position of Senior Vice President of Franchise Operations (Developing Markets) of the Company's franchising subsidiary, Sonic Industries Services Inc.
(d) Exhibits.
99 Press Release, dated September 8, 2009, announcing the appointment of Omar Janjua as President of Sonic Restaurants, Inc.
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