Sonic's President to Resign in March

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On Thursday, restaurateur Sonic (NASDAQ: SONC  ) announced that its president, Scott McLain, a 17-year veteran of the company, intends to resign effective March 31. McLain will serve in a "transition role" for a further three months and depart finally at the end of June.

Sonic also noted that Chairman and Chief Executive Officer Cliff Hudson will be taking over McLain's job title of president as well, as soon as the resignation becomes effective.

Shares of Sonic closed down 0.9% Thursday ahead of the announcement, at $11.38. 

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Rich Smith

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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Related Tickers

10/8/2015 4:00 PM
SONC $24.75 Up +0.22 +0.90%
Sonic Corp CAPS Rating: **