Jack in the Box (JACK) names new president in CEO succession plan
Rhea-AI Filing Summary
Jack in the Box Inc. (JACK) announced that its Board has appointed Taylor Montgomery, age 39, as President effective September 14, 2026, in a newly created role focused on brand strategy, sustainable sales growth, and franchisee profitability. This appointment is part of the company’s CEO succession plan: Montgomery is expected to become Chief Executive Officer and join the Board within the next 12 months, working closely with Executive Chairman and Interim CEO Mark King during the transition.
Under an offer letter dated August 14, 2026, Montgomery will receive a $700,000 base salary, annual bonus eligibility, a $220,000 sign-on bonus with clawback conditions through October 1, 2027, a one-time $1.5 million RSU inducement grant vesting over three years, a fiscal 2027 performance share unit award targeted at $500,000, and beginning in fiscal 2028, annual long-term incentive awards targeted at $1.0 million. He will participate in executive severance and assurance programs on terms similar to other executives.
Montgomery previously served as Global Chief Brand Officer at Taco Bell, overseeing more than $18 billion in systemwide sales across over 9,000 restaurants. Jack in the Box operates and franchises approximately 2,115 restaurants across 25 states, Guam and Mexico.
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Filing Explained
The filing makes clear that Montgomery’s disclosed compensation is not all currently granted: the
8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Base salary: $700,000
Annual incentive target: 75% of base salary
Annual incentive maximum: 150% of base salary
+5 more
8 metrics
Base salary
$700,000
Annual base salary for Taylor Montgomery as President
Annual incentive target
75% of base salary
Target bonus opportunity under annual incentive program
Annual incentive maximum
150% of base salary
Maximum payout opportunity under annual incentive program
Minimum FY 2027 incentive
$150,000
Minimum annual incentive payment for fiscal year 2027
Inducement RSU grant
$1.5 million
One-time restricted stock unit grant vesting over three years
FY 2027 PSU award
$500,000
Target grant date value of performance share unit award
Annual LTIP from FY 2028
$1.0 million
Target grant date value of annual long-term incentive awards
Sign-on bonus
$220,000
Sign-on cash bonus payable on or before November 1, 2026
Key Terms
restricted stock units, performance share unit award, executive severance plan, compensation and benefits assurance program, +2 more
6 terms
restricted stock units financial
"a one-time inducement grant of restricted stock units with a grant date value"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
executive severance plan financial
"eligible to participate in the Company’s executive severance plan"
compensation and benefits assurance program financial
"executive severance plan and compensation and benefits assurance program"
systemwide sales financial
"he led the brand’s growth strategy, overseeing more than $18 billion in systemwide sales"
Systemwide sales are the combined revenue generated by all locations and channels that operate under a brand, including both company-owned outlets and franchised or independently operated sites. For investors, this is like looking at a chain’s entire footprint to see whether the business is expanding or shrinking overall, offering a clearer picture of demand and growth potential than revenue from just the corporate-owned portion alone.
same-store sales growth financial
"accelerate same-store sales growth, strengthen restaurant-level execution"
Same-store sales growth measures how much revenue changes at outlets that have been open for a comparable period (typically a year), excluding sales from newly opened or recently closed locations. It matters to investors because it shows whether demand is growing at the business’s existing operations — like checking whether established trees are producing more fruit rather than counting fruit from newly planted trees — and helps separate true organic performance from growth driven by expansion or closures.
FAQ
What executive leadership change did JACK announce in this 8-K filing?
Jack in the Box Inc. appointed Taylor Montgomery as President effective September 14, 2026, in a newly created role. He is expected to become Chief Executive Officer within 12 months and join the Board as part of the company’s CEO succession plan.
What is Taylor Montgomery’s compensation package at Jack in the Box (JACK)?
Taylor Montgomery will receive a $700,000 base salary, target annual bonus of 75% of salary (maximum 150%), a one-time $1.5 million RSU inducement grant, a $500,000 fiscal 2027 performance share unit award, and annual long-term incentives targeted at $1.0 million from fiscal 2028.
What sign-on bonus did JACK agree to pay Taylor Montgomery and under what conditions?
Jack in the Box agreed to pay Taylor Montgomery a $220,000 sign-on bonus on or before November 1, 2026. If he resigns voluntarily or is terminated for misconduct before October 1, 2027, he must repay a prorated portion under the sign-on bonus agreement.
What equity awards will Taylor Montgomery receive from Jack in the Box (JACK)?
Montgomery is eligible for a one-time $1.5 million inducement grant of restricted stock units vesting in three equal annual installments, a fiscal 2027 $500,000 target performance share unit award, and from fiscal 2028 onward, annual long-term incentive awards targeted at $1.0 million in grant date value.
What is Taylor Montgomery’s background before joining Jack in the Box (JACK)?
Taylor Montgomery most recently served as Global Chief Brand Officer at Taco Bell, overseeing more than $18 billion in systemwide sales across over 9,000 restaurants, after more than a decade at Yum! Brands and earlier brand strategy roles at Procter & Gamble.
How large is Jack in the Box’s restaurant footprint according to this 8-K?
Jack in the Box operates and franchises approximately 2,115 restaurants across 25 states, Guam, and Mexico. This reflects the scale of the company’s quick-service restaurant network that Taylor Montgomery will help lead in his new President and future CEO roles.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 18, 2026
(Exact name of registrant as specified in its charter)
_________________
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||
(Address of principal executive offices) (Zip Code)
(858 ) 571-2121
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
_________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
______________________________________________________________________
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 18, 2026, the Board of Directors (the “Board”) of Jack in the Box Inc. (the “Company”) appointed Taylor Montgomery, age 39, as President of the Company, effective September 14, 2026. In this newly created role, Mr. Montgomery will lead the Company’s brand strategy with a focus on driving sustainable sales growth, improving franchisee profitability, and supporting the Company’s long-term growth initiatives. Mr. Montgomery’s appointment is a component of the Company’s previously announced Chief Executive Officer succession planning process. He is expected to assume the role of Chief Executive Officer within the next twelve months and is expected to join the Board at that time.
Prior to joining the Company, Mr. Montgomery served as Global Chief Brand Officer of Taco Bell, a division of Yum! Brands, Inc., where he was responsible for the brand’s growth strategy and marketing initiatives. Before serving as Global Chief Brand Officer, Mr. Montgomery held various leadership positions at Taco Bell and Yum! Brands. Prior to joining Yum! Brands, Mr. Montgomery held brand strategy roles at Procter & Gamble.
In connection with his appointment, the Company entered into an offer letter with Mr. Montgomery dated August 14, 2026. Pursuant to the offer letter, Mr. Montgomery will receive an annual base salary of $700,000 and will be eligible to participate in the Company’s annual incentive program with a target annual incentive opportunity equal to 75% of his base salary and a maximum payout opportunity equal to 150% of his base salary. For fiscal year 2027, Mr. Montgomery is entitled to receive a minimum annual incentive payment of $150,000, subject to his continued employment through the payment date.
Mr. Montgomery is also eligible to receive a one-time inducement grant of restricted stock units with a grant date value of $1.5 million, subject to approval by the Compensation Committee of the Board and his continued employment through the grant date. The inducement award is expected to vest in three equal annual installments over three years, subject to the terms of the applicable award agreement. In addition, Mr. Montgomery will be eligible to receive a fiscal year 2027 performance share unit award with a target grant date value of $500,000 and, beginning in fiscal year 2028, annual long-term incentive awards with an aggregate target grant date value of $1.0 million, subject to Board or Compensation Committee approval and the terms of the applicable award agreements.
The Company also agreed to pay Mr. Montgomery a sign-on bonus of $220,000, payable on or before November 1, 2026, subject to applicable withholding taxes. If Mr. Montgomery voluntarily resigns or is terminated for misconduct prior to October 1, 2027, he will be required to repay a prorated portion of the sign-on bonus, subject to the terms of the sign-on bonus agreement.
Mr. Montgomery will also be eligible to participate in the Company’s executive severance plan and compensation and benefits assurance program on substantially the same terms as other executive officers of the Company.
There are no arrangements or understandings between Mr. Montgomery and any other person pursuant to which he was appointed as an officer of the Company. There are no family relationships between Mr. Montgomery and any director or executive officer of the Company, and there are no transactions involving Mr. Montgomery requiring disclosure under Item 404(a) of Regulation S-K.
The foregoing descriptions of the offer letter and sign-on bonus agreement do not purport to be complete and are qualified in their entirety by reference to the full text of those agreements, copies of which are filed as exhibits to this Current Report on Form 8-K and incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
On August 20, 2026, the Company issued a press release announcing the appointment of Mr. Montgomery as President of the Company, effective September 14, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, unless expressly incorporated by specific reference therein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | ||||
| 10.1 | Offer Letter, dated August 14, 2026, between Jack in the Box Inc. and Taylor Montgomery | ||||
| 10.2 | Sign-On Bonus Agreement, dated August 14, 2026, between Jack in the Box Inc. and Taylor Montgomery | ||||
| 99.1 | Press Release of Jack in the Box Inc. dated August 20, 2026 | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| JACK IN THE BOX INC. | |||||||||||
| August 20, 2026 | /s/ Mark King | ||||||||||
| Mark King | |||||||||||
| Executive Chairman and Interim Chief Executive Officer | |||||||||||
Exhibit 99.1
 | Contact: Rachel Webb Vice President, Finance & Investor Relations rachel.webb@jackinthebox.com (858) 522-4556 | |||||||
Press Release
Jack in the Box Inc. Appoints Taylor Montgomery as President
Restaurant Executive to Drive Sustainable Growth and Strengthen Brand Performance
Appointment Advances Planned CEO Succession and Supports Seamless Leadership Transition
SAN DIEGO – August 20, 2026 – Jack in the Box Inc. (“Jack in the Box” or the “Company”) (NASDAQ: JACK), today announced its Board of Directors has appointed Taylor Montgomery as President, effective September 14, 2026. In this newly created role, Montgomery will lead Jack in the Box’s brand strategy, with a focus on driving sustainable sales growth, improving franchisee profitability, and positioning the Company for long-term success.
Mr. Montgomery’s appointment marks the next step in the Company’s previously announced succession plan. He is expected to assume the role of Chief Executive Officer within the next 12 months and will also join the Board at that time. During this transition, Mr. Montgomery will work closely with Executive Chairman and Interim Chief Executive Officer Mark King to accelerate execution of the Company’s strategic priorities and maintain continuity across the business. Mr. King will remain Chairman following the transition.
“I am thrilled to welcome Taylor to Jack in the Box. He is a proven leader with a track record of driving sustainable brand growth and results, and I have seen his ability to execute firsthand,” said Mr. King. “Taylor brings a deep understanding of the franchised QSR industry, and I am confident he will advance our strategy and vision. I look forward to working together as we build on our momentum.”
“Jack in the Box is an iconic brand with tremendous potential, and I am excited to help lead its next chapter and create lasting value for the Company and its shareholders,” said Mr. Montgomery. “I look forward to working alongside Mark, the leadership team, and our franchisees to accelerate same-store sales growth, strengthen restaurant-level execution, and bring more guests to Jack in the Box.”
Mr. Montgomery most recently served as Global Chief Brand Officer at Taco Bell, part of Yum! Brands, where he led the brand’s growth strategy, overseeing more than $18 billion in systemwide sales across over 9,000 restaurants. During his tenure, Taco Bell outpaced industry performance, including delivering over 7% sales growth, 3% restaurant growth, and 8% profit growth last year. Mr. Montgomery spent more than a decade at Yum! Brands, holding leadership roles across brand marketing and innovation at Taco Bell and spearheading initiatives such as Live Más LIVE and the launch of Cantina Chicken. In 2024, he was named to Forbes’ World’s Most Influential CMOs list. Mr. Montgomery previously spent more than five years at Procter & Gamble, where he held brand strategy roles across multiple consumer brands.
About Jack in the Box Inc.
Jack in the Box Inc. (NASDAQ: JACK), founded and headquartered in San Diego, California, is a restaurant company that operates and franchises Jack in the Box®, one of the nation's largest hamburger chains with approximately 2,115 restaurants across 25 states, Guam and Mexico. For more information, including franchising opportunities, visit www.jackinthebox.com.
Exhibit 99.1
Contact:
Rachel Webb
858-522-4556
rachel.webb@jackinthebox.com