Portillo's appoints Brett Patterson as President and CEO, effective February 23, 2026, to drive growth and operations.
Quiver AI Summary
Portillo's, the popular Chicago-based fast-casual restaurant known for its Italian beef sandwiches and other specialties, has announced the appointment of Brett Patterson as its new President and CEO, effective February 23, 2026. With extensive experience in the restaurant industry, Patterson is expected to lead Portillo's growth strategy while maintaining the brand's unique qualities. Chairman Michael A. Miles Jr. expressed confidence in Patterson's leadership, highlighting his operational expertise and focus on sustainable growth. Patterson expressed excitement about joining Portillo's and aims to enhance the guest experience and foster a strong team culture while driving profitable results. Portillo's operates over 100 restaurants and is dedicated to expanding its distinctive dining experience across the nation.
Potential Positives
- Appointment of Brett Patterson as President and CEO is expected to drive sustainable growth and operational excellence for Portillo's.
- Patterson's strong background in team development and strategic operations positions the company for enhanced market positioning and new restaurant growth.
- The leadership transition is presented as a commitment to honoring Portillo's legacy while aiming for long-term value for shareholders and guests.
Potential Negatives
- Appointment of a new CEO may indicate instability or a need for change in leadership due to previous performance issues that weren't addressed.
- Recent leadership changes could result in strategic shifts that may not align with the existing company culture or operational objectives.
- Future successes are highly dependent on the new CEO's ability to execute a strategy that meets stakeholder expectations, adding pressure to deliver immediate results.
FAQ
Who is the new CEO of Portillo's?
Brett Patterson has been appointed as the new President and CEO of Portillo's, effective February 23, 2026.
What experience does Brett Patterson bring to Portillo's?
Patterson has extensive leadership experience across national restaurant brands, focusing on operations, team development, and sustainable growth.
What are Portillo's core menu offerings?
Portillo's is known for its Italian beef sandwiches, Chicago-style hot dogs, char-broiled burgers, crinkle-cut fries, and cake shakes.
How many locations does Portillo's currently have?
Portillo's operates more than 100 restaurants across 11 states in the United States.
What is Portillo's Perks program?
Portillo's Perks is a loyalty program that allows guests to earn and redeem rewards for exclusive perks and offers.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PTLO Revenue
$PTLO had revenues of $181.4M in Q3 2025. This is an increase of 1.78% from the same period in the prior year.
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$PTLO Hedge Fund Activity
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- WOODLINE PARTNERS LP removed 2,527,236 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $16,300,672
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$PTLO Price Targets
Multiple analysts have issued price targets for $PTLO recently. We have seen 7 analysts offer price targets for $PTLO in the last 6 months, with a median target of $6.0.
Here are some recent targets:
- Brian Mullan from Piper Sandler set a target price of $8.0 on 01/16/2026
- Chris O'Cull from Stifel set a target price of $6.0 on 01/07/2026
- Dennis Geiger from UBS set a target price of $5.5 on 01/06/2026
- Jim Salera from Stephens & Co. set a target price of $6.0 on 11/05/2025
- Andy Barish from Jefferies set a target price of $6.0 on 10/13/2025
- Sara Senatore from B of A Securities set a target price of $7.0 on 10/06/2025
- David Tarantino from Baird set a target price of $7.0 on 09/11/2025
Full Release
CHICAGO, Feb. 11, 2026 (GLOBE NEWSWIRE) -- Portillo's , the iconic Chicago-based fast-casual restaurant famous for its Italian beef sandwiches, Chicago-style hot dogs, char-broiled burgers, crinkle-cut fries, cake shakes and more, today announced the appointment of restaurant industry veteran Brett Patterson as President and Chief Executive Officer (CEO), effective Monday, February 23, 2026. Patterson will also join the Company’s Board of Directors.
Patterson brings extensive leadership experience across large, national restaurant brands, with a strong background in operations, team development, and driving sustainable growth. Throughout his career, he has been recognized as a people-first leader with a proven ability to deliver strong returns and long-term profitability.
“Brett has all the right qualities to lead Portillo’s into its next chapter of growth,” says Michael A. Miles, Jr., Chairman of the Board. “He brings the strategic mindset, operations expertise, and leadership style needed to grow this brand, while preserving what makes Portillo’s so special and unique. Having worked his way up through the ranks and served in virtually every operational role within a restaurant, he understands the business from the ground up and the people who make it a success every day. The Board, the executive team, and I are confident that he will honor our legacy while helping position the Company to deliver long-term value for our shareholders, guests, and team members.”
In his role, Patterson will be responsible for leading the Company’s overall strategy, with a focus on market positioning, new restaurant growth, and operational excellence, while continuing to invest in team members and elevate the guest experience.
“I am incredibly excited and honored to join Portillo’s,” said Patterson. “This is a tremendous brand with a powerful culture, an incredibly passionate fan base, a long runway for growth, and a team that truly cares about delivering great experiences. From the moment I stepped into Portillo’s, I recognized that it was a special brand with great food and truly dedicated teams. It’s clear this is a people-first organization where passion runs deep. I look forward to working alongside these talented teams to build on what differentiates Portillo’s while driving profitable, sustainable results.”
About Portillo’s
Portillo’s (NASDAQ: PTLO) is a one-of-a-kind brand that has grown from a small hot dog trailer in Chicago to more than 100 restaurants across 11 states. Known for its unique menu of craveable Italian beef sandwiches, Chicago-style hot dogs, char-broiled burgers, fresh salads and iconic chocolate cake, Portillo’s is beloved in both its home of Chicagoland and across new and growing markets. Portillo’s operates a company-owned model of not just restaurants – but experience-focused destinations that blend dine-in, drive-thru, takeout and delivery to serve our guests with the food they crave. And now, after six decades of success and counting, Portillo’s is on a mission to bring its iconic food and unforgettable dining experience to guests across the country.
Guests can join Portillo’s Perks, the brand’s loyalty program, at Portillos.com/perks to earn and redeem delicious rewards. Every visit brings fans closer to exclusive perks, badges and surprise offers. Fans can also download the Portillo’s App for iOS or Android or visit Portillo’s website to order ahead for pickup or delivery and get the best dill on these bun-believably delicious Chicago-style favorites and more. Plus, Portillo’s ships its craveworthy food to all 50 states via its website.
Media Contact:
Sara Wirth
Director, PR & Communications
[email protected]
Investor Contact:
Chris Brandon
VP, Investor Relations
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3f2e5f57-3c02-4cce-90f2-fa2ed265b4ec