Chad Gretzema

Chad Gretzema

Lake Forest-based Del Taco Restaurants Inc. (Nasdaq: TACO) promoted Chad Gretzema to chief operating officer, a new position.

Gretzema was previously senior vice president, strategic planning and innovation, and has been with the Mexican-themed fast food chain since 2012. His career includes tenures with bagel chain Einstein Noah Restaurant Group, Noodles & Co., and Oscar Mayer Foods.

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In late August several news outlets said Del Taco hired an investment bank to advise on a possible sale of the chain; in May it retained Denver-based Cypress Group to refranchise restaurants. More than half its locations are company-owned.

Del Taco is the No. 6-largest restaurant chain based in Orange County with $810 million in systemwide sales from 580 locations in 14 states. It traded recently at about a $400 million market cap.