Potbelly CFO Charles Talbot will step down March 27, pushing the sandwich chain's shares down considerably upon the news.
It's not yet publicly known where Talbot will go next, but Crain's Chicago reported that he's leaving the role he's occupied since 2008 for an executive position with another company. That report noted that Talbot helped take Potbelly (NYSE: PBPB) public in 2013, and after an initial round of exuberance the stock has returned to hover around its $14-per-share initial price.
One analyst, Nicole Miller Regan of Piper Jaffray, referred to Talbot as Potbelly's "Team Captain", the Chicago Tribune reported, and cut her rating and price target based on his departure.
Both reports said Potbelly will conduct an external search for a new CFO. As of mid-morning, its shares were down about 7.25 percent from Thursday's close to $13.62.