Carrols Restaurant Group, Inc. announced the passing of Paulo A. Pena who died unexpectedly in the hospital on December 31, 2022. Mr. Pena, who had served as the Company's President since April 1, 2022, was 50 years old. Pursuant to the Company's CEO Succession Plan, the Board of Directors has appointed Anthony E. Hull, Carrols' Vice President, Chief Financial Officer and Treasurer, to serve as Interim President until a successor has been identified.

Mr. Hull will continue serving as Chief Financial Officer and Treasurer of the Company while serving as Interim President and CEO. The Board will be initiating a search for a successor shortly. The Company also announced the appointment of Joseph Hoffman as Chief Restaurant Officer, a new executive level position created to oversee Carrols' restaurant operations, effective January 1, 2023.

In his new role, which was approved by the Board on December 20, 2022, Mr. Hoffman will report directly to Interim President and CEO Anthony Hull. Mr. Hoffman served as Senior Vice President, Operations of Carrols from May 2022 to December 31, 2022, as a Division Vice President, Operations from June 2017 until April 2022, and as a Vice President, Region Director from June 1997 until May 2017. Mr. Hoffman has been an employee of Carrols since 1993, when he joined the Company as a District Manager.