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    Brinker International Inc (EAT)

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    Brinker International (EAT) is a global restaurant company that owns, operates, develops, and franchises casual dining brands. The company specializes in providing full-service dining experiences through its two main restaurant chains, Chili’s Grill & Bar and Maggiano’s Little Italy. With a presence in the United States and 27 other countries, Brinker International serves a variety of cuisines, including American and Italian-American dishes, through both company-owned and franchised locations.

    1. Chili’s Grill & Bar - Operates as a casual dining restaurant chain offering a variety of American cuisine, including burgers, ribs, fajitas, and other Tex-Mex-inspired dishes. Includes both company-owned and franchised locations across domestic and international markets.
    2. Maggiano’s Little Italy - Provides a full-service Italian-American dining experience, featuring classic Italian dishes, banquet services, and catering options. Operates primarily through company-owned restaurants in the United States.
    NamePositionExternal RolesShort Bio

    Aaron M. White

    Executive

    Executive Vice President and Chief People Officer

    None

    Aaron M. White has been with Brinker International since August 1996 and focuses on talent and organizational strategies.

    Christopher M. Caldwell

    Executive

    Senior Vice President and Chief Information Officer

    None

    Christopher M. Caldwell joined Brinker International in February 2024 and has 28 years of experience in restaurant industry technology leadership.

    Daniel S. Fuller

    Executive

    Senior Vice President, Chief Legal Officer, and Secretary

    Board Member at Restaurant Law Center

    Daniel S. Fuller joined Brinker International in July 2014 and became Chief Legal Officer in April 2024. He has a background in legal affairs and corporate governance.

    Dominique J. Bertolone

    Executive

    Senior Vice President and President of Maggiano’s Little Italy

    None

    Dominique J. Bertolone joined Brinker International in December 2023 and focuses on accelerating growth across Maggiano’s three channels: dine-in, off-premise, and banquets.

    Douglas N. Comings

    Executive

    Senior Vice President and Chief Operating Officer for Chili’s Grill & Bar

    None

    Douglas N. Comings has been with Brinker International since October 1994 and has over 30 years of experience in restaurant operations and franchise management.

    George S. Felix

    Executive

    Senior Vice President and Chief Marketing Officer

    None

    George S. Felix joined Brinker International in July 2022 and oversees global brand vision, strategy, and marketing operations.

    James M. Butler

    Executive

    Senior Vice President and Chief Supply Chain Officer

    None

    James M. Butler joined Brinker International in January 2023 and has a background in supply chain management and distribution networks.

    Kevin D. Hochman

    Executive

    President and CEO of Brinker International, Inc.

    None

    Kevin D. Hochman is the President and CEO of Brinker International, Inc. and President of Chili’s Grill & Bar. He joined in June 2022 and has extensive experience in leading and growing brands in the retail and restaurant sectors.

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    Michaela M. Ware

    Executive

    Executive Vice President and CFO

    None

    Michaela M. Ware joined Brinker International in October 2017 and became CFO in June 2024. She has expertise in financial management and investor relations.

    Cynthia L. Davis

    Board

    Director

    Board Member at Deckers Outdoor Corporation and Kennametal, Inc.; Board of Trustees at Furman University

    Cynthia L. Davis has been a Director since 2019 and brings experience in corporate strategy, sales, marketing, and operations.

    Frances L. Allen

    Board

    Director

    Advisory Board Member at No Kid Hungry

    Frances L. Allen has been a Director since 2020 and has extensive experience in the restaurant industry, including roles as CEO of Checkers Drive-In Restaurants and Boston Market Corp.

    Frank D. Liberio

    Board

    Director

    None

    Frank D. Liberio joined the Board of Directors in July 2024 and has extensive experience in global business information technology and digital transformation.

    Harriet Edelman

    Board

    Director

    Vice Chairman of Emigrant Bank; Board Member at Assurant, Inc.

    Harriet Edelman has been a Director since 2008 and has over 20 years of experience in marketing, sales, IT, risk management, and global business operations.

    James C. Katzman

    Board

    Director

    Senior Vice President, Corporate Development at GE Aerospace; Board Member at Hershey Trust Company, Milton Hershey School, and Boys & Girls Clubs of The Valley (AZ)

    James C. Katzman has been a Director since 2018 and has extensive experience in investment banking, corporate financial matters, and risk management oversight.

    Joseph M. DePinto

    Board

    Chairman of the Board

    President and CEO of 7-Eleven, Inc.; Board Member at 7-Eleven, Inc. and 7 & i Holdings Co., Ltd.; Board Member at DHC Acquisition Corp.; Member of Kellogg School of Management Global Advisory Board and Dallas Stars Ownership Advisory Group

    Joseph M. DePinto has been Chairman since November 2013 and is also the President and CEO of 7-Eleven, Inc. He has extensive experience in operations, marketing, finance, and strategic planning.

    Prashant N. Ranade

    Board

    Director

    Co-Founder of IndusSME LLC; Member of National Association of Corporate Directors

    Prashant N. Ranade has been a Director since 2019 and has experience in automation, technology, healthcare, and supply chain/logistics domains.

    Ramona T. Hood

    Board

    Director

    Board Member at Summa Health Systems

    Ramona T. Hood has been a Director since 2022 and has experience in operations, safety, supply chain sourcing, sales, marketing, and strategy.

    William T. Giles

    Board

    Director

    Board Member at Floor & Decor Holdings, Inc., Constellation Brands, Inc., and Autism Speaks; Member of Alfred University Board of Trustees

    William T. Giles has been a Director since 2013 and has over 30 years of financial proficiency and business leadership in the retail products industry.

    1. Given the substantial same-store sales increase of 31.4% for Chili's in Q2, driven by positive traffic and mix, how do you plan to sustain this growth, and what specific factors might challenge your ability to maintain these elevated comps in the upcoming quarters?
    2. With capital expenditures projected between $240 million and $260 million, including plans for reimaging and potentially rebuilding certain Chili's locations, how do you justify these investments amid potential operational disruptions, and what returns are you expecting from these initiatives in the current economic climate?
    3. Traffic at Maggiano’s decreased by 4.9% despite positive sales growth in the quarter; what specific strategies are you implementing to address the declining traffic, and how confident are you that these measures will effectively turn around Maggiano’s performance in the near term?
    4. As average unit volumes surpass $4 million, what sustainable store-level margins do you anticipate achieving at Chili's, and what operational challenges do you foresee in maintaining or improving margins as volumes continue to grow?
    5. Regarding your digital initiatives and efforts to deepen consumer insights, what major additional investments are required, and how will these investments directly contribute to enhancing the guest experience and driving incremental sales, especially considering the current challenges with your loyalty program?
    Program DetailsProgram 1
    Approval DateFiscal 2022
    End Date/DurationN/A
    Total Additional Amount$300.0 million
    Remaining Authorization$107.0 million (as of 2025-02-12)
    DetailsUsed to return capital to shareholders and minimize the dilutive impact of stock options and share-based awards.

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Chili's Restaurants – Northwest Region (8 units)

    2022

    The acquisition involved 8 previously franchised restaurants for a total purchase price of $2.0 million, funded with borrowings from the existing credit facility. It was accounted for as a business combination with assets recorded at fair values and resulted in net acquisition-related charges of $1.6 million, having an immaterial impact on consolidated financial statements.

    Chili's Restaurants – Multi-Region (66 units)

    2021–2022

    This acquisition involved 66 previously franchised restaurants acquired from three former franchisees across regions: 23 restaurants in the Mid-Atlantic for $47.7 million, 37 in the Great Lakes for $57.1 million, and the 8-unit Northwest acquisition; the deals were primarily funded through credit facility borrowings and a sale leaseback transaction, with assets recorded at fair values.