Jack in the Box Inc. (Nasdaq: JACK) announced on Jan. 16 that it will appoint Lance F. Tucker as the new executive vice president and chief financial officer. He will begin his job with the quick-service restaurant chain on March 26.
Tucker is currently the senior vice president, chief financial officer and chief administrative officer for Papa John’s International Inc., where he manages all finance, accounting, legal, human resources, investor relations, strategic planning and risk management functions.
Jack in the Box Inc.’s current CFO, Jerry P. Rebel, planned to retire from the company once a successor was hired. Rebel will work closely with Tucker as he transitions into the new role.
“Jack in the Box is an outstanding brand, and I’m grateful for the opportunity to work alongside such a strong management team to grow the brand in the years to come,” Tucker said in an announcement from the company.
The job comes with an annual base salary of $575,000 and a target annual bonus incentive of 75 percent of his base salary, plus an annual cash prerequisite allowance of $52,000, according to a securities filing from Jack in the Box.
Additionally, Tucker will receive a one-time new hire grant of restricted stock units (RSU) with a grant date fair value of $400,000, which will be subject to a three-year vesting schedule at 33 percent per year. The one-time grant of RSUs is intended to help compensate Tucker for the value of the equity grants and bonuses he forfeits by leaving his employer to join Jack in the Box.
Tucker was promoted to CFO and treasurer of Papa John’s in February 2011 and added the chief administrative officer title and responsibilities in July 2012. From June 2010 to February 2011, he was Papa John’s chief of staff and senior vice president for strategic planning, and he served as its chief of staff and vice president for strategic planning from June 2009 to June 2010.
Tucker is a graduate of Transylvania University in Lexington, Kentucky, and currently serves as a member of the university’s board of trustees.