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BJ’s Restaurants CEO Greg Levin is stepping down and will be replaced on an interim basis by board member Brad Richmond, a former CFO of Darden Restaurants, the company announced Wednesday.
Levin had been with the casual-dining chain for 19 years, first as CFO and then as president. He became CEO in 2021.
He helped lead BJ’s through a period of rapid growth during which it expanded from 45 restaurants in 2005 to nearly 200 a decade later. As CEO, he guided the brewpub brand through the pandemic and its aftermath.
However, BJ’s has faced traffic and sales challenges recently, as have many full-service restaurants. Last year, systemwide sales rose 3.8%, according to Technomic, and the chain has reported negative same-store sales growth in 2024.
The Huntington Beach, California-based chain has been under pressure from a pair of activist investors who are pushing for changes to improve shareholder value. In March, one of those investors struck a deal with BJ’s to give Richmond a board seat.
Now Richmond, a 42-year industry veteran, will take the reins at the 216-unit chain, at least temporarily.
Richmond joined Darden in 2005 as corporate controller and the next year became CFO, a role he kept until 2015. Before that, he held executive-level finance and strategic planning roles at Olive Garden and Red Lobster beginning in 1982.
“I look forward to the opportunity to build upon the Company’s commitment to our culture and brand promise during my interim service,” he said in a statement. “I hope to enhance focus on and prioritization of the opportunities in front of us, as we usher in the next chapter of renewed growth and value creation.”
BJ’s Board Chair Lee Ann Ottinger said Richmond’s leadership style and experience will help the chain’s operations. “We expect Brad to guide the Company toward sustainable comparable sales, new unit restaurant growth and long-term shareholder value creation,” she said in a statement.
BJ's became the third casual-dining company this week to name a new CEO, joining Outback Steakhouse parent Bloomin' Brands and Red Lobster. There have been more than 20 CEO changes in the restaurant industry this year.
BJ’s stock dipped slightly in after-hours trading Wednesday.
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