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 Chief Executive Officer 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 CEO 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.