Corporate Governance- Management
J. Clifford HudsonChairman of the Board, President and Chief Executive Officer, Sonic Corp.
Clifford Hudson has served as the Company’s Chairman of the Board since January 2000 and Chief Executive Officer since April 1995. Mr. Hudson served as President of the Company from April 1995 to January 2000 and reassumed the position of President from November 2004 until May 2008 and again in April 2013 to the present. He has served in various other offices with the Company since 1984. Mr. Hudson has served on the Board of Trustees of the Ford Foundation since January 2006 and on the Board of Trustees of the National Trust for Historic Preservation from January 2001 until 2011, where he served as its Chairman from 2008 until 2011. He served as Chairman of the Board of the Securities Investor Protection Corporation, the federally chartered organization which serves as the insurer of customer accounts with brokerage firms, from 1994 to 2001. In his more than 25 years with the Company, Mr. Hudson has gained meaningful leadership experience and quick-service restaurant knowledge. As CEO, he is responsible for determining the Company’s strategy and clearly articulating priorities as well as aligning and motivating the organization to execute effectively. These capabilities, combined with Mr. Hudson’s understanding of the Company and unwavering commitment to the Sonic brand, make him uniquely qualified to serve on the Board.
Holdings: 369,953 shares View Transactions Date Type Shares Traded Price Range Jan 14, 2015 Sell 190,000 31.55 - 31.58 Jan 7, 2015 Disposition (Non Open Market) 112,338 29.72 Jan 7, 2015 Option Execute 135,507 22.24 Jun 30, 2014 Disposition (Non Open Market) 58,990 22.08 Jun 30, 2014 Option Execute 60,078 21.14 - 21.65 Apr 16, 2014 Disposition (Non Open Market) 49,605 20.84 Apr 16, 2014 Option Execute 64,046 14.22 Mar 31, 2014 Sell 100,000 22.64 Mar 25, 2014 Disposition (Non Open Market) 91,585 23.23 Mar 25, 2014 Option Execute 93,500 22.54 Sep 23, 2013 Sell 63,000 18.10 Sep 20, 2013 Sell 107,000 18.42 Sep 19, 2013 Sell 130,000 18.59 - 18.70 Apr 9, 2013 Sell 51,698 12.39 Apr 9, 2013 Disposition (Non Open Market) 676 n/a Apr 9, 2013 Acquisition (Non Open Market) 676 n/a Apr 9, 2013 Option Execute 52,374 12.09 Apr 8, 2013 Sell 1,397 12.60 Apr 8, 2013 Option Execute 1,397 12.09 Apr 4, 2013 Sell 22,516 12.60 Apr 4, 2013 Option Execute 22,516 12.09 Jan 14, 2013 Disposition (Non Open Market) 4,257 10.95 Jan 14, 2013 Option Execute 11,881 n/a Jul 6, 2012 Sell 30,569 10.34 Jul 5, 2012 Sell 29,041 10.33 Jul 3, 2012 Sell 29,041 10.33 Jul 3, 2012 Disposition (Non Open Market) 2,500 n/a Jul 2, 2012 Sell 28,986 10.35 Jun 20, 2012 Disposition (Non Open Market) 4,800 n/a Jun 15, 2012 Disposition (Non Open Market) 38,000 n/a Apr 4, 2012 Disposition (Non Open Market) 25,000 n/a Jan 14, 2012 Disposition (Non Open Market) 4,294 6.71 Jan 14, 2012 Option Execute 11,880 n/a Oct 25, 2011 Acquisition (Non Open Market) 122,393 6.89 Mar 18, 2011 Disposition (Non Open Market) 83,181 8.86 Mar 18, 2011 Option Execute 94,845 7.36 Jan 14, 2011 Disposition (Non Open Market) 4,294 10.57 Jan 14, 2011 Option Execute 11,880 n/a Dec 7, 2010 Disposition (Non Open Market) 6,900 n/a Nov 11, 2010 Disposition (Non Open Market) 1,608 n/a Oct 20, 2010 Disposition (Non Open Market) 2,760 n/a Sep 13, 2010 Disposition (Non Open Market) 17,448 n/a Apr 20, 2010 Sell 66,700 12.25 Apr 20, 2010 Option Execute 108,489 5.71 Aug 5, 2009 Disposition (Non Open Market) 60,000 n/a Apr 28, 2009 Disposition (Non Open Market) 41,000 n/a Mar 26, 2009 Disposition (Non Open Market) 5,200 n/a Mar 3, 2009 Disposition (Non Open Market) 66,397 8.03 Mar 3, 2009 Option Execute 93,050 5.73 Dec 18, 2008 Disposition (Non Open Market) 11,000 n/a
Stephen C. VaughanExecutive Vice President of Franchise Operations, Finance and Planning
Stephen Vaughan is executive vice president of franchise operations, finance and planning of Sonic Corp, an Oklahoma City-based, publicly-held company that owns, operates and franchises SONIC Drive-In restaurants. He is responsible for franchise support, accounting and financial reporting, investor relations, all treasury functions and risk management.
Vaughan has worked at SONIC since 1992 in various positions, including internal auditor, assistant controller, controller and vice president of planning & analysis and treasurer. Prior to assuming his current position, he served as executive vice president and chief financial officer. He previously worked at Ernst & Young as an auditor.
Vaughan earned his bachelor’s degree in business administration from the University of Oklahoma. He also is a certified public accountant. Vaughan serves on the board of the Oklahoma FFA Foundation, the Oklahoma City National Memorial Foundation, the Boy Scouts of America Last Frontier Council and Harding Charter Preparatory High School. He also is co-chair of the 2015 Oklahoma City Memorial Marathon. Vaughan lives in Oklahoma City, Okla., with his wife, Merrie Lynn.
Paige S. BassSenior Vice President and General Counsel
Paige S. Bass is senior vice president and general counsel of Sonic Corp., the parent company for the Oklahoma City-based national headquarters of SONIC®, America's Drive-In®, a position she assumed in 2007. Bass leads SONIC's internal legal department and is responsible for all legal services for Sonic Corp and its subsidiaries. She joined SONIC as associate general counsel in 2004.
Before joining SONIC, Bass was an associate with Crowe & Dunlevy, one of the largest law firms in Oklahoma. She is involved with several community organizations, serving as a board member, a member of the executive committee and a volunteer for Oklahoma Lawyers for Children; a board member for Urban League of Greater Oklahoma City; and a volunteer for the Oklahoma Foundation for Excellence. Bass is also a member of the board of directors of the Oklahoma County Bar Foundation and was elected to The Fellows of the American Bar Foundation in 2010. Bass is a graduate of Leadership Oklahoma City Class of XXIX.
Bass has a Bachelor of Science degree in mechanical engineering from Oklahoma State University. She also graduated, with highest honors, from the University of Oklahoma College of Law, where she served as editor-in-chief of the Oklahoma Law Review, was elected to the Order of the Coif and received numerous awards, including the Nathan Scarritt Prize.
A native of Clinton, Oklahoma, Bass resides in Oklahoma City with her husband, Mike, and their two children.
Todd SmithSenior Vice President and Chief Marketing Officer
Todd Smith is senior vice president and chief marketing officer for Sonic Corp., the Oklahoma City-based national headquarters of SONIC®, America’s Drive-In®. He leads the marketing function for SONIC, which includes all national marketing, field marketing, media, digital marketing, market research and product innovation. Smith joined SONIC as vice president of marketing in April 2012.
Prior to joining SONIC, Smith served as director of marketing and menu innovation for Wendy’s International. At Wendy’s, Smith led a team responsible for premium and value chicken, salad, wraps and new platform and packaging products and projects. Prior to his time at Wendy’s, Smith worked for Yum! Brands, specifically with KFC, in various brand marketing roles.
Smith has a bachelor of arts in marketing management and advertising communications from Brigham Young University and a master’s degree in integrated marketing communications from Northwestern University.Smith, his wife and five children reside in Edmond, Okla.
John BuddChief Development and Strategy Officer
John Budd is chief development and strategy officer of Sonic Corp. He is responsible for franchise sales, real estate and construction – both domestically and internationally. Additionally, in conjunction with the chief executive officer, Budd will lead and assist in further development of key strategic initiatives for the company.
Budd joined SONIC from the Boston Consulting Group, where he served as a partner and managing director. In that role, he gained relevant experience helping restaurant brands create successful management strategies, drive unit growth, implement long-term menu innovation and improve same-store sales and profits. Prior to his work with Boston Consulting Group, he held various domestic and international roles of increasing accountability with General Electric.
Budd earned his bachelor’s degree in economics from the University of Pennsylvania. He also received his M.B.A. from the Kellogg School of Management at Northwestern University.
Budd and his wife, Rebecca, have two sons, Jackie and Marcus.
Craig MillerSenior Vice President and Chief Information Officer
Craig Miller is senior vice president and chief information officer for the Oklahoma City-based national headquarters of SONIC®, America’s Drive-In®. In his role, Miller is responsible for the development and execution of the company’s information technology (IT) transformation strategies and services, including all customer, retail and corporate solutions.
Miller joined SONIC in 2010 from Movie Gallery, where he served on the transition team as executive vice president and chief information officer responsible for developing and implementing the global technology strategy. Prior to Movie Gallery, Miller was senior vice president of information strategy at Bank of America, responsible for implementing innovative business analytics, supporting all corporate and retail functions. Prior to Bank of America, Miller was director of technology services at Pepsi where he led the development of global technology strategy, managed integration for franchise acquisitions, and implementation of shared services, supporting all corporate divisions. Earlier in his career, Miller started a software development firm specializing in emerging technologies and large-scale systems development for Fortune-500 companies.
Miller holds a master’s degree in systems engineering from Polytechnic University and is a graduate of SUNY Stony Brook with a bachelor’s degree in computer engineering.
Anita VanderveerSenior Vice President of People
Anita Vanderveer is senior vice president of people for the Oklahoma City-based national headquarters of SONIC®, America’s Drive-In®. She leads the human resources function for SONIC, which includes talent management, recruitment, people development, employee relations, payroll, benefits, compensation, recognition, internal communications, training & education, organizational design and change. Vanderveer joined SONIC as vice president of people in April 2011.
Vanderveer began her career with Pizza Hut/YUM! Brands over 25 years ago in restaurant operations and has served in a variety of human resources executive positions. She also served as vice president, human resources for Pinnacle Family of Companies based in Dallas, Texas.
Vanderveer holds a bachelor’s degree from Mountain State University in organizational leadership and a master’s degree in education, human resource development from the University of Illinois Urbana-Champaign.
Balancing career with community involvement, she is currently a part of Leadership Oklahoma and serves on the Oklahoma City Allied Arts Board and on the YWCA of OKC Human Resources Committee.
Originally from Dayton, Ohio, Vanderveer grew up in the Quad Cities. She and her husband, Gordy, have one daughter and reside in Edmond, Oklahoma.
Claudia San PedroSenior Vice President, Chief Financial Officer and Treasurer
Claudia San Pedro serves as senior vice president, chief financial officer and treasurer for the Oklahoma City-based national headquarters of SONIC®, America’s Drive-In®. She is responsible for all accounting and financial reporting functions, treasury, risk management, investor and public relations for the brand.
San Pedro joined Sonic in 2006 as Treasurer. She has also served as Vice President of Investor Relations since 2009. In that role, she directed financial planning, procurement and investment of funds for the organization and formulated investor relations strategy and oversaw communications with the investment community. San Pedro also led public relations and external communications for the company.
Prior to joining SONIC, she served as the director for the Oklahoma Office of State Finance. Appointed by Governor Brad Henry in 2005, San Pedro was the first female and first Hispanic to serve as Director of State Finance for Oklahoma.
Before joining OSF and the Henry administration, San Pedro served as the assistant director of the Oklahoma State Senate fiscal staff and a staff budget analyst for the senate appropriations subcommittees on education, human services and general government.
San Pedro is currently a volunteer board member of the Foundation for Oklahoma City Public Schools, the Greater Oklahoma City Hispanic Chamber of Commerce and Downtown OKC.
San Pedro holds an undergraduate degree from Smith College in Massachusetts and a master’s degree in business administration from the University of Oklahoma.
Harold CeronSenior Vice President
Harold Ceron is senior vice president of Sonic Restaurants, Inc., Sonic Corp’s division of company-owned drive-ins for the Oklahoma City-based national headquarters of SONIC®, America’s Drive-In®. In this position, Ceron is responsible for overseeing all aspects of SRI operations including field marketing, finance, risk management and human resources for SRI drive-ins.
Ceron joined SONIC in July 2014 from 7 ELEVEN, Inc., where he was previously managing director of Europe and Latin America. At 7 Eleven, he was responsible for 2,200 franchise locations in Mexico, Norway, Denmark and Sweden while also managing the Middle East Market entry project. Previous to 7 Eleven, Ceron spent 19 years with YUM! Brands holding numerous positions most notably serving as director of global KFC operations where he provided overall leadership and direction for all field business units and restaurant support center functions for 8,900 stores in 115 countries.
Ceron holds an MBA in finance from California State University where he also received a major in business administration with a minor in economics.
Ceron lives in Edmond, Okla. with his wife, Amy, and two children.
Eddie SarochSenior Vice President of Franchise Relations
Eddie Saroch is senior vice president of franchise relations for the Oklahoma City-based national headquarters of SONIC®, America’s Drive-In®. In his current role, Saroch oversees all aspects of franchise operations including operations, quality assurance, food safety, equipment & customer satisfaction and is also responsible for all franchise relations for the chain.
Saroch has served SONIC in various capacities including: director of operations for Sonic Restaurants, Inc. (SRI), regional vice president for SRI, regional vice-president for Sonic Industries (SI), vice president of SRI, vice-president SI - field services, senior vice president SI - field services, senior vice-president field services and ops services, president for SRI, senior vice president of SI - developing markets, senior vice president of field services - east region and senior vice president west region.
For more than 16 years, Saroch managed multiple operational positions at Hardee's Food Systems prior to joining SONIC.
He earned his bachelor's degree in business economics from the University of Missouri at Rolla, Mo. Saroch is a member of Leadership Oklahoma City, Class XXV.
A native of Rolla, Mo., Saroch currently lives in Edmond, Okla., with his wife, Karla.