The Indianapolis-based burger chain's smaller annual profit resulted from an ongoing effort to increase the company's number of franchised restaurants, with plans to open units as far away as the Middle East.
Carmel-based ITT Educational Services Inc. announced late Monday afternoon that CEO Kevin Modany planned to resign within six months. The struggling for-profit education firm has drawn scrutiny from government officials for its marketing and lending practices.
The move will hike the real estate firm's stock price, combining every four shares into a single share. Kite officials hope a double-digit price will give shares a more stable foundation and an image makeover.