DineEquity, the Glendale-based parent company of IHOP and Applebee's restaurants, on Tuesday announced the appointment of Tom Emrey as chief financial officer.
Emrey was executive vice president and chief operating officer at Universal Studios Home Entertainment. He previously served as chief financial officer from 2003 to 2007. Prior to Universal Studios, Emrey held finance positions at Nestle USA.
Emrey’s appointment becomes effective Sept. 12. He replaces John F. Tierney, who will be leaving the company following a brief transition.
In a statement, Julia Stewart, DineEquity's chief executive officer, thanked Tierney for refinancing the company’s long term debt during his two years as CFO. Stewart also said Emrey’s “finance and corporate strategy experience will be an important asset to DineEquity's executive team as we continue executing on our strategic plans for Applebee's and IHOP.”
Shares of DineEquity declined $1.17 or 3 percent to trade at $36.80 on the New York Stock Exchange by mid-day Tuesday.