El Pollo Loco’s Laurance “Larry” Roberts is stepping down from his role as Chief Executive by the end of the year.
Roberts joined the Costa Mesa-based company 10 years ago as chief financial officer, leading El Pollo Loco (Nasdaq: LOCO) through its initial public offering in 2014, and entered the CEO position in March 2022. He will provide consulting services until December 28.
“Being part of El Pollo Loco has been the highlight of my career, and I am proud of what we have accomplished together during my time with the company,” Roberts said in a statement.
The restaurant chain’s chief operating officer Maria Hollandsworth has been appointed as interim president and CEO while El Pollo Loco begins searching for a new head executive.
Hollandsworth started working for the chain last November, following her time as regional vice president of operations at Dunkin’ from Inspire Brands Inc. Prior to that, she spent more than 20 years with Jack in the Box in leadership roles across company and franchise operations.
El Pollo Loco reported revenue of $120 million for the third quarter ended September. Shares were slightly up around $8.80 during after hours trading, with a market cap of $287 million.
