Fast casual restaurant chain Shake Shack Inc (SHAK  ) said its Board of Directors has appointed Rob Lynch to the role of Chief Executive Officer and board member, effective May 20, 2024.

Lynch will succeed Randy Garutti, who will continue as the company's CEO through May 20, 2024.

Lynch currently serves as President and CEO of Papa John's International, Inc (PZZA  ), where he has driven global system-wide sales of over $5 billion across approximately 5,900 units.

"Rob's appointment as CEO marks the beginning of our next chapter of growth as we seek to further elevate Shake Shack as a leading global brand," said Founder and Chairman Danny Meyer.

Lynch has over 25 years combined experience in the QSR and consumer packaged goods industries and has also held senior roles at several companies.

He graduated from the University of Rochester, obtaining his B.A. and M.B.A.

Price Action: SHAK shares are trading lower by 1.15% at $107.96 on the last check Thursday.