Sonic Announces Departure of Executive Vice President
May 26 2015 - 5:15PM
Business Wire
Responsibilities to be Reallocated within
Organization
Sonic Corp. (NASDAQ:SONC), the nation's largest chain of
drive-in restaurants, today announced that Stephen C. Vaughan, the
company’s Executive Vice President of Franchise Operations, Finance
and Planning, will resign from the position effective June 19,
2015. Vaughan will continue to serve SONIC in a transition role
through that date. Vaughan is leaving Sonic to be President and
Chief Financial Officer of Café Rio, a fast casual Mexican
restaurant chain prominent in the Western United States. The
company also announced that, upon Vaughan’s resignation, his
responsibilities will be reallocated among current members of
management and the company will be adding additional members to
management on a progressive basis throughout the year.
“In the more than 23 years that Steve has been with Sonic, he
has made significant contributions to the brand, which during that
time has grown from $850 million in system sales to more than $4.2
billion. His financial acumen combined with his strategic and
steady leadership has positively influenced everyone in the Sonic
brand. We thank him for his dedication, loyalty and passion for the
brand,” said Cliff Hudson, CEO. "While we are disappointed that
Steve is departing, we have an incredibly talented management team
that will guide our continued growth of the brand.”
“I have thoroughly enjoyed my time at Sonic and will remain a
lifelong fan of the Sonic brand,” said Steve Vaughan. “I will
forever be grateful for the tremendous opportunities Sonic provided
me as well as for the strong relationships I have had the good
fortune to establish with my co-workers and our franchisees during
my tenure. At the same time, I am very excited about joining the
Café Rio team and utilizing the experience I’ve gained at Sonic to
help facilitate their growth plans.”
Vaughan joined Sonic in 1992, serving in various roles including
internal auditor, controller, treasurer and vice president of
performance analysis, as well as chief financial officer, prior to
his most recent role.
About Sonic
Sonic, America's Drive-In, originally started as a
hamburger and root beer stand in 1953 in Shawnee, Oklahoma called
Top Hat Drive-In, and then changed its name to Sonic in 1959. The
first drive-in to adopt the Sonic name is still serving customers
in Stillwater, Okla. Sonic has more than 3,500 drive-ins coast to
coast, where approximately three million customers eat every day.
For more information about Sonic Corp. and its subsidiaries, visit
Sonic at www.sonicdrivein.com.
SONC-F
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Sonic Corp.Christi Woodworth, 405-225-5602Vice President of
Public Relations
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