Portillo's CEO Michael Osanloo departs; Chairman Miles named interim CEO effective Sept 21

Portillo's Inc.

Michael Osanloo out as President and CEO effective Sept 21, 2025; separation without cause entitles him to severance benefits.
Board Chairman Michael A. Miles, Jr., age 63, appointed interim CEO; he previously served as interim CEO from 2014-2015.
Board formed Search Committee (4 directors) and will hire executive search firm to identify permanent CEO.
Eugene I. Lee (former Darden CEO) appointed Lead Independent Director; Osanloo will serve as Special Advisor for 90 days.
Company says recent performance 'has not measured up to expectations' as reason for the leadership transition.

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