For all intents and purposes, Doug Thompson helmed the chief operating officer role at Texas Roadhouse for the past three years, ever since Steve Ortiz’s 2015 retirement. The 540-unit chain made the change official August 23. Thompson, 55, was appointed to the post by the Louisville-based company’s board, and signed a contract through January 7, 2021.
Like many of Texas Roadhouse’s C-suite positions, Thompson is a longtime employee who has worked his way up. He started with the company in 2002 as a market partner before being promoted three years later to regional market partner. Thompson held the title of vice president of operations since 2015. Previously, he clocked time as a unit operator with Outback Steakhouse and Bennigan’s Restaurants. Thompson also has a 7.5 stake in a Stillwater, Oklahoma, Texas Roadhouse; a 5 percent stake in a Warwick, Rhode Island, location; and a 30.5 percent stake in a Gilbert-East, Arizona, store.
Per Louisville Business First, Thompson will receive a base salary of $450,000 for the first partial year in the position. An annual salary for the rest of his term will then be determined by Texas Roadhouse’s board’s compensation committee. Thompson will receive an incentive bonus of $450,000 for the first year of the term, and an amount to be determined for the remaining years.
The chain’s current policy calls for the bonus to be based on goals established by the compensation committee. It can be cut to zero or doubled for good performance. Additionally, Thompson earns 2,000 shares of restricted stock for the first year of employment, which will be vested after his first year.
In May, Texas Roadhouse promoted Tonya Robinson to chief financial officer, replacing company president Scott Colosi, who served in the interim role since 2015.
Robinson, previously vice president of finance and investor relations, joined Texas Roadhouse in 1998.
Texas Roadhouse reported same-store sales gains of 5.7 percent at company-run units and 3.9 percent at domestic franchised stores (70 of the restaurants are U.S. franchises) in the second quarter. Traffic lifted 4.3 percent. The chain achieved net income of $44.2 million, or 62 cents per share, and revenue of $629.2 million, up from $566.3 million in the year-ago period.