After being denied the CEO position at Applebee's, Julia Stewart purchased the company and ousted her former superior
In the world of corporate America, stories of resilience and poetic justice are few and far between. One such tale belongs to Julia Stewart, a veteran executive whose career defied the odds and left an indelible mark on the casual dining landscape.
Stewart's journey began in 1998 when she joined Applebee's Neighborhood Grill & Bar. At the time, the company was struggling, and Stewart was promised the CEO role if she could restore profitability. True to her word, Stewart assembled a new team, drove a turnaround, and saw corporate and franchise sales soar. Within three years, she had doubled the stock value.
However, despite her success, Stewart was denied the promised promotion. Fortune magazine reported on her career-defining snub, and Stewart, left with no choice, resigned from Applebee's.
Undeterred, Stewart found opportunity at International House of Pancakes (IHOP) where she served as CEO from 2007 to 2015. During her tenure, she revitalized the brand over five years and convinced the board to expand through acquisition. Under her leadership, IHOP reshaped the casual dining landscape.
In 2001, IHOP was faltering, but Stewart saw potential. She identified Applebee's as a potential acquisition target and, after the acquisition closed in the mid-2000s, she fired her former boss, who was still CEO and chair of Applebee's.
Stewart served as chair and CEO of Dine Brands Global, the parent company of IHOP and Applebee's, for a decade. During this time, Applebee's was thriving again under Stewart's leadership. However, after being denied the CEO role, Stewart was succeeded by Steve Joyce upon her departure.
Today, at 70, Julia Stewart is a board member at Bojangles and the founder of a wellness app. She recently recounted her journey on the Matthews Mentality Podcast, offering insights into her resilience and the lessons she learned from her experiences.
Stewart's story is a testament to the power of resilience and the importance of standing up for oneself in the face of adversity. Her journey serves as an inspiration for executives and everyday people alike, proving that even in the face of setbacks, one can rise to the top and leave a lasting impact.
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