January 5, 2017 / 9:54 PM / 10 months ago

Shake Shack names first COO; says CFO to retire

(Reuters) - Shake Shack Inc (SHAK.N), known for its indulgent hamburgers, crinkle-cut fries and frozen custard shakes, named company veteran Zach Koff as its first chief operating officer, and said Chief Financial Officer Jeff Uttz will retire.

A man carries away bags of Shake Shack in New York January 30, 2015. REUTERS/Andrew Kelly

Koff, who joined in 2010, has held various roles including director of operations, and has been a member of the company’s executive team since its IPO in 2015.

The company said Uttz, who has been the CFO since 2013, will remain in his role through mid-March.

Shake Shack has retained Russell Reynolds to initiate a search for a new chief financial officer.

The company raised its 2016 revenue forecast in November. The raise came as restaurant companies battled weak demand and intense competition, particularly from grocery stores.

Reporting by Gayathree Ganesan in Bengaluru; Editing by Sriraj Kalluvila

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