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Thursday, Mar 28, 2024
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Transition in the Works at Jack in the Box

Jack in the Box has announced that its chairman and chief executive officer, Robert Nugent, will retire in October.

Nugent, 63, who has been at the helm of the San Diego-based fast-food chain since 1996, said he wanted to quit while the company was ahead.

He will be succeeded by the company’s president and chief operating officer, Linda Lang.

“With the company experiencing one of its best years ever in 2004 and with its financial condition as strong as it’s ever been, I want to step aside and let a new generation of management take Jack in the Box to the next level,” Nugent said in a statement released on Monday.

Nugent has spent nearly 30 years as an executive of Jack in the Box.

On Monday, the day of the announcement, shares in the company’s stock, sold on the New York Stock Exchange under the symbol JBX, closed at $37.15, up from $36.56 a share on Friday. The closing price on Tuesday was $37, down 15 cents a share from Monday.

Connie Lewis

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