After a five-month search for a new chief executive, Maryville-based Ruby Tuesday has turned to the nation’s largest full-service restaurant chain to fill its top job.
James “J.J.” Buettgen resigned Monday from his position as senior vice president and chief marketing officer at Darden Restaurants to become president and CEO of Ruby Tuesday.
Buettgen, 52, will begin his new roles effective Dec. 1, when he takes over for Ruby Tuesday founder Sandy Beall, who announced in June that he was stepping down after 40 years. Beall previously said he hoped a replacement would be named before Thanksgiving.
Meanwhile, lead director Matthew Drapkin, a partner in the investment firm Becker Drapkin Management, will take over as chairman of the board, also effective Dec. 1.
John Gordon, principal at San Diego-based chain restaurant consulting firm Pacific Management Consulting Group, said Buettgen’s hire appeared to be a good one.
“It will give a bit of aura to Ruby Tuesday to take a high-level executive out of Darden to join them,” he said.
While Darden is facing its own challenges, Ruby Tuesday is in far worse shape, he added.
However, Darden has multiple distinct brands, including Red Lobster, Olive Garden and LongHorn Steakhouse. Experience operating those could help Ruby Tuesday, which has recently been expanding its own portfolio to include its in-house seafood concept, Marlin & Ray’s, and Lime Fresh Mexican Grill, which it acquired in April.
“If there’s any shot at all at making a go of the multiple brands Ruby Tuesday has kicked off, J.J. and his team might be able to assess it,” Gordon said.
In a statement posted on its website, Darden indicated that Buettgen had an interest in leading a company.
Before his most recent role at Darden, Buettgen served as Darden’s senior vice president of business development and as president of Smokey Bones Barbeque & Grill. He has more than 20 years of experience in the restaurant and consumer industries, including roles at Disneyland Resorts, Brinker International and General Mills.
“It is an honor to lead Ruby Tuesday, and I am excited to join the company and work with the seasoned management team and dedicated team members to create value for our shareholders. I believe this will be an exciting period of growth for the company and I am eager to begin,” he said in a news release.
Buettgen holds a bachelor’s degree in finance from Miami University in Oxford, Ohio, and a masters in business administration in marketing management from the University of California at Los Angeles.