Sonic's President to Resign in March
Jan 24th 2013 10:51PM
Updated Jan 25th 2013 7:50AM
On Thursday, restaurateur Sonic announced that its president, Scott McLain, a 17-year veteran of the company, intends to resign effective March 31. McLain will serve in a "transition role" for a further three months and depart finally at the end of June.
Sonic also noted that Chairman and Chief Executive Officer Cliff Hudson will be taking over McLain's job title of president as well, as soon as the resignation becomes effective.
Shares of Sonic closed down 0.9% Thursday ahead of the announcement, at $11.38.
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