WHILE it’s pure coincidence, I had to smile when I saw this one-day chart showing a 4% gain in Jack in the Box Inc.’s (NYSE:JBX) stock immediately after the firm announced yesterday that it has hired four-time IR Magazine Award winner Carol DiRaimo.
According to the news release, she is assuming the investor relations responsibilities at the restaurant company that are currently performed by Harold Sachs, who is retiring as vice president of investor relations and treasurer, effective Dec. 31, 2008.
DiRaimo was most recently the vice president of investor relations for Applebee’s International, Inc., where she spent 14 years until last November when the firm merged with IHOP Corp., now Dine Equity (NYSE:DIN).
While at Applebees, DiRaimo was honored as “Best Investor Relations Officer” for a small- to mid-cap company by Investor Relations Magazine for four consecutive years — 2004, 2005, 2006 and 2007, prompting us to dub her a super IRO.
Of course, the market’s reaction yesterday had little to do with DiRaimo’s appointment, though it surely did not hurt. Instead, JBX’s performance was mirroring the broader market, which is why there’s an asterisk in the headline.
San Diego-based Jack in the Box Inc. operates and franchises more than 2,100 namesake hamburger restaurants in 18 US states. The company also operates a chain of convenience stores called Quick Stuff in more than 60 locations, and operates and franchises Qdoba Mexican Grill, with more than 450 restaurants in 40 states.
Of course, we wish DiRaimo all the best in her new position and thank her for being such a good sport.