DineEquity hobbles through tough week
Stock in a Glendale-based food company that runs breakfast chain IHOP and Americana diner Applebee’s plunged this week on news that a top executive resigned this week.
After Chief Financial Officer Thomas Conforti stepped down Tuesday to “pursue other opportunities,” shares in DineEquity Inc. plunged 26%.
Last year, the company, then known as IHOP, agreed to buy Applebee’s for $2 billion in a complex deal Conforti helped to engineer, officials said.
