NEW YORK (AP) -- Shares of Cheesecake Factory Inc. fell more than 3 percent Wednesday as investors reacted to the resignation of President and Chief Operating Officer Peter D'Amelio.
D'Amelio, 44, said Tuesday he is stepping down Feb. 2 for personal family reasons. He became president and operations chief in April 2004.
FBR analyst Ashley R. Woodruff said D'Amelio's resignation shouldn't impact the Calabasas Hills, Calif.-based company much and added that its chief executive, David Overton, is the main driver of the company's strategy and operations.
She said the resignation may also give the company the opportunity to hire an experienced restaurant executive.
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http://biz.yahoo.com/ap/070117/cheesecake_factory_mover.html?.v=1
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