Wingstop stock sizzles as former Sonic director joins board

The share price rose as much as 2.1% in intraday trading

Wingstop sign
Lavelle was tapped for Wingstop's board after a stint as CFO at Dunkin

Shares of Wingstop Inc (NASDAQ:WING) are on the rise following the appointment of Kate Lavelle to the restaurant chain’s board of directors on Friday.

Lavelle most recently served on the board of Sonic Corp for nearly seven years, and prior to that served as executive vice president and chief financial officer of Dunkin Brands Group Inc (NASDAQ:DNKN).

Investors saw her as an ingredient of success, boosting the stock as much as 2.1% in intraday trading.

READ: Wingstop flies lower as outlook overshadows 2017 revenue and earnings beat

Lavelle joins the board as an independent director, and her presence brings board membership to eight. 

“We are pleased to welcome Kate to our board as she brings immense industry knowledge, deep finance and accounting expertise, and substantial public-company board experience,” Chairman and CEO Charlie Morrison said. “As we continue on our path to becoming a top 10 global restaurant brand, we’re fortunate to add an experienced restaurant executive and director to our team.”

The stock found a recipe for growth, rising 1.2% to $66.24 in Friday's late-afternoon trading.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: Wingstop

Price: 77.65 USD

Market: NASDAQ
Market Cap: $2.29 billion

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