Portillo’s (PTLO) announced that its board of directors has appointed chairman of the board Michael Miles as interim CEO, effective immediately. Miles succeeds Michael Osanloo, who has departed the company as president and CEO and as a member of the board of directors. Osanloo will support the transition as a special advisor to Miles and the board over the next 90 days. The board of directors has established a search committee and will be assisted by a leading executive search firm in conducting a comprehensive search process to identify the company’s next CEO.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PTLO:
- Portillo’s price target lowered to $7.50 from $9 at UBS
- Portillo’s price target lowered to $7 from $8 at Baird
- Portillo’s Stock Faces Challenges Amid Strategic Shift and Competitive Pressures
- Portillo’s needs ‘string of upside surprises’ to renew confidence, says Stephens
- Portillo’s Announces Strategic Reset for Growth Plans