Applebee president Tony Moralejo will step down, effective March 4, and will assume an advisory role through June 4.

Dine Brands, the parent company of Applebee, has named John Peyton as interim president of the grill and bar restaurant chain.

Peyton is currently Dine Brands CEO and will continue in his current capacity on top of his new appointment.

“Tony and I share a deep respect for the DNA of Applebee’s and we are all grateful for his contributions since he took on this role two years ago,” said Peyton.

“I look forward to building on his work and accelerating our plans to grow the brand and achieve superior results.”

Prior to joining Dine Brands, Peyton held the president and CEO roles at Realogy Franchise Group after a 17-year career as a senior executive at Starwood Hotels and Resorts Worldwide.

Last November, Dine Brands reported its third-quarter revenue fell 3.8 per cent year-on-year to $195 million, but its net income slightly improved from $18.5 million to $19 million.