El Pollo Loco (NASDAQ:LOCO) shareholders approved all proposals presented at the company’s 2026 annual meeting, including a shareholder proposal opposed by the board that calls for a majority voting standard in uncontested director elections, according to preliminary voting results announced during the meeting.
Richard Leza, Inspector of Elections with American Election Services, said a quorum was present, with a majority of shares outstanding as of the April 2, 2026, record date represented in person, electronically or by proxy. The company said final voting results will be disclosed in a Form 8-K filing with the Securities and Exchange Commission within four business days.
Director Nominees Elected, Auditor Ratified
Shareholders also ratified the audit committee’s appointment of BDO USA as the company’s independent registered public accounting firm for fiscal 2026. John Berry, a partner at BDO USA, attended the meeting but did not make a statement.
Other company-backed proposals approved in preliminary voting included the advisory “say-on-pay” vote on 2025 compensation for named executive officers, the advisory vote on the frequency of future executive compensation votes and an amendment to the company’s equity incentive plan. The board had recommended a one-year frequency for future say-on-pay votes.
Shareholder Proposal Passes Despite Board Opposition
The sixth proposal, submitted by The Accountability Board, requested that El Pollo Loco’s board take the necessary steps to amend the company’s governing documents so that directors in uncontested elections would be elected by the affirmative vote of a majority of votes cast.
Matt Prescott, president, chief operating officer, secretary and treasurer of The Accountability Board, briefly presented the proposal. He said both Institutional Shareholder Services and Glass Lewis had recommended a vote in favor and encouraged other shareholders to support it.
Babb said the company had engaged with the proponent and that the board determined the proposal was not in the long-term interest of the company or its shareholders at this time. He said the board believes the company’s current plurality voting standard “continues to serve the best interest of the company and our shareholders” by avoiding the possibility of failed elections and increased vulnerability to special interest campaigns.
Babb also said that since El Pollo Loco became a public company, no director had failed to receive the affirmative vote of at least a majority of votes cast when presented for election. Despite the board’s recommendation to vote against the proposal, Leza reported that preliminary results indicated the shareholder proposal was approved.
CEO Highlights Brand Transformation Plan
After the formal meeting adjourned, Chief Executive Officer Liz Williams delivered brief remarks on the state of the company. Williams said she is in her third year leading El Pollo Loco and that the company’s “brand transformation plan is well on track.”
Williams said the company is focused on building long-term shareholder value by positioning El Pollo Loco around quality and flavorful food that is fast, easy and affordable. She reiterated five strategic pillars for the business:
- A “brand that wins,” focused on being a flavorful, affordable and quality chicken leader.
- A hospitality mindset emphasizing fast, friendly and consistent service and culture.
- A digital-first approach to provide a frictionless customer experience.
- Winning unit economics, including margin expansion.
- Unit growth through national expansion with flexible and affordable growth options.
Williams said the company is confident that executing against those pillars will position El Pollo Loco for long-term sustainable growth and shareholder value.
No shareholder questions were submitted during the informal question-and-answer session. Babb noted that the company would not answer questions about second-quarter performance during the meeting.
About El Pollo Loco (NASDAQ:LOCO)
El Pollo Loco (NASDAQ: LOCO) is a fast-casual restaurant chain specializing in Mexican-style fire-grilled chicken and complementary menu offerings. The company’s signature product is its marinated, flame-grilled chicken, which is prepared in an open-flame rotisserie and served in a variety of formats including tacos, burritos, bowls and salads. In addition to its core chicken offerings, El Pollo Loco menu items feature fresh-made salsas, guacamole, sides such as charro beans and fresh tortillas, as well as a selection of beverages and desserts.
Founded in 1975 in Guasave, Sinaloa, Mexico, by Juan Francisco Ochoa, the concept expanded into the United States in 1980 with its first U.S.
