CFO THOUGHT LEADER

Bonus Replay: Where the Puck Is Headed | Michelle Hook, CFO, Portillo’s


Listen Later

It was late 2020 when Michelle Hook ended 17 years of fruitful career-building at Domino’s to accept a CFO appointment at fast casual restaurant chain Portillo’s.  

“The two things that I was looking for were to be passionate about a new brand and to feel a culture fit,” recalls Hook, who adds that she had long imagined someday leaving Domino’s to join a smaller company that she could help to grow.

“I just didn’t care about going to a bigger company or ‘X,’ ‘Y,’ or ‘Z,’” continues Hook, who tells us that she ultimately took a leap of faith with regard to there being a culture fit at Portillo’s.

“I actually never stepped into our headquarters until my first day on the job and had met in person only with the CEO, since this was during COVID times and the rest of the hiring process had been done on Zoom,” comments Hook.

Fast-forward 15 months to when the Omicron variant was still grabbing headlines and inflation had begun to rattle the economy—and Hook could not escape the notion that the traditional Portillo’s restaurant needed to change for the post-COVID world.

“I thought to myself, I think that we’re overbuilding our restaurants—we need to think about where the puck is going,” remembers Hook, who notes that Portillo’s dine-in customers in today’s post-COVID environment account for only roughly 35 percent of the chain’s volume.

“I had come from Domino’s, which didn’t have these big dining rooms and had built out a heavily digital business,” remarks Hook, who reports that Portillo’s digital business represents only 20 percent of overall sales.

This subject soon surfaced at an executive strategy session at which Portillo’s CEO, Michael Osanloo, tasked Hook and Portillo’s head of marketing with leading an initiative dubbed “Restaurant of the Future.”   

“I think that Michael knew that I’d take on the project by using a data-driven lens,” comments Hook, who points out that the project has involved “time and motion studies” involving specific restaurants and their conveyance activities within the kitchen.      

“Getting the engine right in the car is super important to us,” she says. “This will bring benefits not only on the cost side of things but also for our team members, who will find it easier to complete their work.” –Jack Sweeney

...more
View all episodesView all episodes
Download on the App Store

CFO THOUGHT LEADERBy The Future of Finance is Listening

  • 4.5
  • 4.5
  • 4.5
  • 4.5
  • 4.5

4.5

122 ratings


More shows like CFO THOUGHT LEADER

View all
The Official SaaStr Podcast: SaaS | Founders | Investors by SaaStr

The Official SaaStr Podcast: SaaS | Founders | Investors

172 Listeners

The McKinsey Podcast by McKinsey & Company

The McKinsey Podcast

391 Listeners

PwC's accounting podcast by PwC

PwC's accounting podcast

180 Listeners

Coaching for Leaders by Dave Stachowiak

Coaching for Leaders

1,468 Listeners

a16z Podcast by Andreessen Horowitz

a16z Podcast

1,091 Listeners

HBR IdeaCast by Harvard Business Review

HBR IdeaCast

1,827 Listeners

TED Business by TED

TED Business

1,108 Listeners

Masters of Scale by WaitWhat

Masters of Scale

3,987 Listeners

Inside the Strategy Room by McKinsey & Company

Inside the Strategy Room

169 Listeners

Think Fast Talk Smart: Communication Techniques by Matt Abrahams, Think Fast Talk Smart

Think Fast Talk Smart: Communication Techniques

808 Listeners

CFO Weekly by Personiv

CFO Weekly

44 Listeners

Me, Myself, and AI by MIT Sloan Management Review

Me, Myself, and AI

105 Listeners

Coaching Real Leaders by Harvard Business Review / Muriel Wilkins

Coaching Real Leaders

667 Listeners

Planning Aces by Brett Knowles & Jack Sweeney

Planning Aces

1 Listeners

HBR On Strategy by Harvard Business Review

HBR On Strategy

77 Listeners

HBR On Leadership by Harvard Business Review

HBR On Leadership

158 Listeners