Jack in the Box, Inc. has appointed two independent directors, Mark King and Alan Smolinisky, to the company’s Board of Directors, effective by the end of this week.
King and Smolinisky are being appointed in connection with a cooperation agreement between the company and one of its stockholders, GreenWood Investors, LLC, following constructive engagement. With the addition of these two directors, the Jack in the Box Board will expand to 10 members.
Mark King brings over 40 years of experience leading transformations at major global brands. He was CEO of Taco Bell Corp., CEO of Xponential Fitness, and president of Adidas North America. He also led TaylorMade Golf to become an industry leader during his tenure as CEO.
Alan Smolinisky, a serial entrepreneur and investor, has had a nearly three-decade career, including commercial real estate, finance, and capital markets. As a Principal at Conquest Housing, a diversified private investment company, his career is marked by the founding and scaling of multiple enterprises, as well as his co-ownership of the Los Angeles Dodgers.
“We are very pleased to welcome Mark and Alan as independent directors on the company’s Board,” said David L. Goebel, chairman of the Board, Jack in the Box Inc. “Mark’s experience in the restaurant and retail industries as well as Alan’s investor perspective and real estate expertise bring valuable and complementary skillsets to the Board that directly align with our ‘JACK on Track’ strategy. We look forward to benefiting from Mark’s and Alan’s insights as the Board and management team continue to focus on returning to a simplified, asset-light business model, driving improved performance and enhancing value for stockholders.”
In connection with the cooperation agreement, the Board will form a Capital Allocation Committee, to be chaired by Smolinisky. GreenWood has agreed to vote its shares in favor of all of the Board’s director nominees at the company’s 2026 Annual Meeting of Stockholders, and has also agreed to customary standstill, voting and other provisions.
“We appreciate our constructive engagement with Jack in the Box and the company’s openness to bringing fresh perspectives to the Board,” said Chris Torino, partner at GreenWood. “We are excited for Mark and Alan to utilize their respective areas of expertise to bring valuable insights as the Board continues overseeing the company’s strategy to improve performance, build momentum in the business, and deliver stockholder value. Through the ongoing actions to reduce debt, drive sustainable same-store sales, and improve margins, we see an opportunity for a rejuvenated JACK to return to its rightful place among the industry’s most iconic brands, and we look forward to being a committed long-term stockholder.”
BofA Securities is serving as the financial advisor, Sullivan & Cromwell LLP is serving as the legal advisor, and Joele Frank, Wilkinson Brimmer Katcher is serving as the strategic communications advisor to the company. LDG Advisory is serving as financial advisor, and McDermott Will & Schulte LLP is serving as legal advisor to GreenWood.
Image courtesy Jack in the Box
