DineEquity, Inc. the parent company of Applebee's Neighborhood Grill & Bar and IHOP restaurants, announced that Steven Layt has been appointed President of Applebee's, effective February 25. Michael Archer, former President of Applebee's, is leaving to pursue other opportunities.

"I want to thank Mike for his commitment and dedication to the Applebee's brand," says Julia Stewart, DineEquity's chairman and CEO. "He made a great contribution to the business during his tenure as the President of Applebee's."

Layt has held the role of senior vice president of operations for Applebee's since January of 2012. Prior to joining DineEquity, Layt was the COO at Buffets Inc. and held a number of senior management positions globally and in the United States with YUM! Brands.

"Steve is an outstanding leader," Stewart says. "He is well-respected by the Applebee's franchisees, is a true innovator and a team player. We look forward to him moving the Applebee's brand ahead."