P.F. Chang's Former CEO Luz Joins Jack in the Box Board, Goebel to Retire in May

Dow Jones04-14

By Josh Beckerman

Jack in the Box named former P.F. Chang chief executive Eduardo Luz to the board and said directors David Goebel and Madeleine Kleiner will retire May 8.

The fast food chain will continue to evaluate opportunities for additional board refreshment. The changes will reduce the board size to nine from 10.

Shares rose 3.7% to $11.80 after hours Monday.

Activist firm Biglari Capital has criticized Goebel, arguing that the company suffered from "chronic leadership instability" and "value destruction." On March 2, Jack in the Box said Mark King replaced Goebel as chair, and Goebel wouldn't seek re-election in 2027.

In late February, Goebel received 7.2 million votes for re-election and 7 million against. All other nominees received more than 11 million affirmative votes.

In November, King and Alan Smolinisky joined the board in connection with a cooperation agreement with GreenWood Investors.

Jack in the Box said in February that first-quarter same-store sales declined 6.7%.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

April 13, 2026 17:12 ET (21:12 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Chang chief executive Eduardo Luz to the board and said directors David Goebel and Madeleine Kleiner will retire May 8. \n\n\n  The fast food chain will continue to evaluate opportunities for additional board refreshment. The changes will reduce the board size to nine from 10. \n\n\n  Shares rose 3.7% to $11.80 after hours Monday. \n\n\n  Activist firm Biglari Capital has criticized Goebel, arguing that the company suffered from \"chronic leadership instability\" and \"value destruction.\" On March 2, Jack in the Box said Mark King replaced Goebel as chair, and Goebel wouldn't seek re-election in 2027. \n\n\n  In late February, Goebel received 7.2 million votes for re-election and 7 million against. 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