The executive shakeup at Chicago's beloved fast-casual chain, Portillo's, has taken the local food industry by surprise. According to ABC 7 Chicago, Michael Osanloo, the President and CEO, has left his post with immediate effect.
Osanloo's departure, which was announced on Tuesday, brings an end to his tenure that began in October 2018. During that time, he was at the helm for some of Portillo's milestone achievements, including the brand's public offering and boosting its presence to a total of 96 locations. Installed in the wake, the company has put Michael A. Miles Jr., the board chair for an impressive 11 years, as the interim CEO while they commence the hunt for a new leader. Serving as a special advisor, Osanloo will still assist the company during the transition for the next 90 days, as wrongly noted in an interim CEO being installed, which does not specify who has been installed.
"Leading Portillo's has been one of the great honors of my career," Osanloo said in a statement. "I am so thankful to my leadership team and all our team members whose hard work and heart make this brand iconic. Together, we achieved so much, and I will always carry immense pride in having been part of the Portillo's family," he told Nation's Restaurant News.
Meanwhile, taking the reins under these less-than-optimal circumstances, Michael A. Miles brings a wealth of experience to the table. His résumé includes past roles as the President and COO of Staples, COO of Pizza Hut, and advisory director for both Berkshire Partners and Western Union. With the full support of the board, he remarked, "The Portillo's brand resonates deeply with our guests, but our recent performance has not measured up to expectations. After careful consideration, the board believes, and Michael agrees, that now is the right time for a leadership transition," despite his role as chairman having previously served for the past 11 years.
Portillo's has yet to disclose the reasons behind Osanloo's abrupt exit or the specific operational challenges they face. However, the message from the company is clear— change is afoot at the top, with fresh leadership to steer Portillo's into its next chapter. As the search unfolds for a permanent CEO, the Chicago restaurant scene watches with keen interest to see how this unexpected change will influence Portillo's trajectory in the competitive fast-casual market.
