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BJ’s Restaurants Inc. promoted Lyle Tick to chief executive this month, almost 10 months after the restaurant company first hired the executive as president and chief concept officer.
Tick takes over from Bradford Richmond, who had served as interim CEO since last August when the restaurant chain’s previous leader Greg Levin suddenly stepped down. Levin first started at Huntington Beach-based BJ’s in 2005 as CFO then moved up to CEO in 2021.
Before coming to BJ’s, Tick served as president and chief executive officer of On the Border Mexican Grill & Cantina. Before that, he led the revitalization of Buffalo Wild Wings, owned by private equity giant Roark Capital Group, while serving as its brand president from 2018 to 2023.
“Lyle has a history of leading iconic brands to unlock new chapters of growth and drive consumer relevance,” Richmond said in September at the time of Tick’s appointment.
“Lyle’s strategic customer focus and passion for brand clarity will enable BJ’s to enhance its relevance and awareness. In addition to his experience and affinity for the casual dining space, Lyle’s extensive experience with consumer goods and spirit brands will bring a fresh perspective to our marketing, innovation, culinary, beverage and brewing teams.”
Richmond will remain on the board and assume the role of special advisor to the CEO during Tick’s transition, the company said.
Lea Anne Ottinger, board chair, said the company is “delighted” to see Tick leading BJ’s.
“As president and chief concept officer, Lyle has quickly re-focused the company’s core sales and profit-driving initiatives to further differentiate our concept while capturing opportunities to reduce operational complexity,” Ottinger said in a statement.
At press time, BJ’s stock has risen 1.7% to $43.61 apiece since the news was announced. The company has a $964 million market cap (Nasdaq: BJRI).
Uplocking BJ’s Potential
After Levin had spent 2024 engaging with two activist investors, BJ’s in January announced a partnership with one of its key supporters, restaurant industry titan Ronald Shaich.
BJ’s entered into a cooperation agreement with Act III Holdings LLC, a $1 billion-plus “evergreen investment vehicle” started and funded by Shaich, which currently counts a 5.4% stake in BJ’s, according to the 2024 proxy statement.
Shaich founded Panera Bread in 1987 and is currently chairman of the Washington D.C.-based Cava Group, parent company of the Mediterranean fast-casual chain Cava.
In January, Shaich, known as the father of fast-casual dining, said he was “impressed by Mr. Tick’s vision and strategy for unlocking the full potential of the BJ’s brand.”
In addition to Tick’s appointment, BJ’s also announced that Chief Financial Officer Thomas Houdek resigned. Effective June 20, he will be taking a new position outside of the restaurant industry.
The company did not name a replacement chief financial officer.
Coming off a 1.8% rise in 2024 annual sales to $1.4 billion, BJ’s recently reported first-quarter revenue increased 3.2% to $348 million.
Top-line growth was driven by a 2.7% improvement in foot traffic, Tick said.
“I am pleased with the progress we are making across both our short- and longer-term strategic initiatives,” Tick said of the chain’s Q1 results.