Sammon — who directly owned more than 608,000 shares of PAR’s common stock, per SEC data as of September, 2015 — indicated she stepped down to focus more time on the company’s growth strategy.
“I returned to PAR four years ago, to strategically transform the company by developing and implementing a differentiated growth strategy. The success of that strategy requires intense focus and time commitment. With Don’s leadership and leveraging his notable business and career achievements, I will be able to dedicate 100 percent of my energies to ensure we exceed our stated goals and objectives,” Sammon said in the release.
During Sammon’s 15-plus month tenure as CEO, PAR’s stock price rose 9.5 percent.
Contact Reinhardt at ereinhardt@cnybj.com
