Portillo’s Names New Chief Executive
Chicago-based restaurant chain Portillo’s has appointed a new CEO. The incoming leader is an industry veteran who previously held executive roles at both Outback Steakhouse and Ruby Tuesday, signaling a focus on experienced leadership for the brand.
- The new President and CEO, Brett Patterson, will officially take over on February 23, 2026. He most recently served as CEO of Miller's Ale House and previously held executive positions at Outback Steakhouse, Ruby Tuesday, and Olive Garden. - Patterson's appointment follows a period of underperformance for the chain, which saw a 0.8% decline in same-store sales in the third quarter ending in September. The company's net income also fell sharply to $0.8 million in that quarter, a 91.1% decrease from the previous year. - The leadership change comes after former CEO Michael Osanloo, who led the company for seven years and through its 2021 IPO, departed in September 2025. The company stated at the time that its recent performance had not met expectations. - An activist investor has been pushing for changes at Portillo's, advocating for continued expansion but with a focus on slashing costs by reducing the size of new restaurants and restructuring landlord deals. - Patterson's stated priorities will be market positioning, new restaurant growth, and operational excellence as part of a "strategic reset" for the 100-unit chain. The company has slowed its aggressive expansion plans after some new locations underperformed. - Board Chairman Michael A. Miles Jr., who served as interim CEO after Osanloo's departure, noted that Patterson has served in "virtually every operational role within a restaurant" and understands the business from the ground up. - As part of his compensation, Patterson will receive an annual base salary of $800,000, with a target annual bonus equal to 100% of his salary.
