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Texas Roadhouse announces president's retirement, effective yesterday

Tonya Garcia

Texas Roadhouse Inc. said Friday that the company's president Scott Colosi has retired from the company, effective Thursday. Colosi joined the company in 2002 as Chief Financial Officer and was promoted to president in 2011. Kent Taylor, founder of the company, will assume the role of president. Raymond James spoke with the company's chief financial officer Tonya Robinson, according to a note, who said Colosi had been thinking about retiring for "some time" and there's "no change in business strategy." Raymond James maintains its market perform stock rating. Texas Roadhouse stock is down 1.3% in Friday trading, and down 12.4% for the year to date. The S&P 500 index is up 18% for 2019 so far.