Sonic shakes up leadership team
April 10, 2015
by Monica Watrous
Steve Vaughan, Todd Smith and Claudia San Pedro have all received executive promotions at Sonic.
OKLAHOMA CITY — Three have stepped up at Sonic Corp. Stephen C. Vaughan, executive vice president and CFO, has been named executive vice-president of franchise operations, finance and planning. Vaughan joined the fast-food company in 1992 and has held the roles of executive vice president and CFO since 2008 and 2004, respectively. His new responsibilities include overseeing franchise operations, leading supply chain management, operations and technical services, quality assurance and customer satisfaction. Additionally, he retains executive management of the finance function.
Claudia S. San Pedro, vice president of investor relations, communications and treasurer, has become the company’s senior vice president, CFO and treasurer. San Pedro joined Sonic in 2006 as treasurer. In her new role she will manage the finance and accounting functions, in addition to her previous responsibilities for investor relations, treasury, performance analysis, risk management and communications.
Todd W. Smith, vice president and CMO, was promoted to senior vice president and CMO. Smith joined Sonic as vice president of marketing in 2012 and has previous experience in various marketing functions in the quick-service restaurant industry. In addition to overseeing brand management, product innovation, consumer insights and creative services, he will lead digital marketing, customer relationship management and loyalty for the drive-in chain’s brand.
“We have an incredibly talented management team and believe that these expanded roles for Steve, Claudia and Todd will strengthen our organization even more,” said Cliff Hudson, CEO. “Structuring the organization in this way ensures collaboration across functions with leadership who have a proven track record to move the business forward. I look forward to continued growth of the brand as we work to become America’s most-loved restaurant brand.”
The chain has experienced strong growth lately, with same-store sales surging nearly 12 percent in the company’s recent quarter. Sonic’s net income for the second quarter ended Feb. 28 advanced 87 percent to $7,662,000, equal to 14 cents per share on the common stock, which compared with $4,107,000, or 7 cents per share, in the prior-year period. Revenues totaled $126,219,000, up 15 percent from $109,741,000 in the comparable quarter.