Revenge done right? Denied CEO role at Applebee’s, Julia Stewart acquires company and fires her boss in stunning comeback
Speaking during Podcast, Stewart announced that he had previously worked as the president of Applebee, and the role was promised to make CEO if the company can make profit. He agreed to challenge and ultimately worked hard to fulfill him to get bad news.
Describing his team in Applebee’s, he shed light on his relationship with each member. “That’s why I went out and started with a new team, probably the best I could find. And most good friends so far. But what we did was quite remarkable.” He said. It took about three years, but the Stewart company managed to reshape and succeed. However, the meeting with the president of the CEO and Applebee at that time did not last long because it resulted in shattered news.
Reminding the meeting with the CEO of the company, “I’m going in with my little graph, right? And the graph has to go in the right direction. Stock has doubled. Life is good. Everything is going very well. I could not be more proud of the team. And I said, ‘I think it’s time to be CEO.’ Said.
“And it is very reflective; it stands for a minute. I’m sure it was 10 seconds. It came like a minute and a half minutes. And” No. And as he said, ‘No, not today’ means. And I said, ‘I don’t recommend it today. And “No, when he’s never looking for a reason.[didn’t] You must have an answer. “
Stewart, when asked about his reaction after rejecting the CEO assignment, Stewart said, “I said,” I will excuse myself. I will go home early and I will think about this conversation. “And the next day I came back and said, ‘I knew, I thought of me and I think you wouldn’t leave me.“ And he said,’ Well, no. You can’t go. If you leave, the stock will tank.
Stewart leaves Applebee’s and joins Ihop
Stewart has left a few months to seek a way to pass the team without financial destruction. After Applebee, he joined the senior IHOP and worked for a “good for five years” to reverse the company. “When I got there, he didn’t show comparable growth,” he said, and “really fighting” and “lack of brand image.”
How did Ihop get Applebee’s?
After Ihop succeeded, Stewart felt the need to buy another brand to continue to grow. “I went to the Board of Directors and said, ‘We probably need to look for a purchase because if we don’t find one, we’ll mature for taking over. But I promise you, me and my team, I will be comprehensive and thoughtful to look for something that will be wow,” he said.
During his research, he felt that Applebee could be “really interesting”. “Now, ultimately, you don’t borrow $ 2.3 billion for revenge. You don’t do it.” He said. “But we borrowed $ 2.3 billion. We bought Applebee.” After the purchase process, Stewart called Applebee’s CEO and president and said they bought the company. He said that they bought him, because they didn’t “need two” and “he would have to let you go”.
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