Julia Stewart, the 70-year-old former CEO of DineEquity, a Pasadena, California-based food and beverage company, shared her story of "sweet revenge" on a podcast in late April.

In the early 2000s, Stewart, known as a turnaround specialist, was recruited by Applebee's with the promise of the CEO role if she could improve the company's profitability.

Businesswoman Julia Stewart. Photo: Jin Lee/Bloomberg

Businesswoman Julia Stewart. Photo: Jin Lee/Bloomberg

She assembled a new team, worked tirelessly, and delivered exceptional results. After three years, with the company's share price doubled, she approached the board to claim the promised CEO position.

"I thought it was time for me to be CEO," she said. However, the then-CEO and chairman flatly refused, simply saying, "No, never," without offering an explanation.

Instead of reacting impulsively, Stewart took a night to consider her options and then resigned.

The company agreed to her departure but asked her to stay for a few months to facilitate the transition. In 2007, she joined IHOP, a struggling restaurant chain known for its breakfast and American comfort food.

Over five years, she revitalized IHOP, strengthening its brand image and improving its financial performance. As IHOP thrived, she proposed a merger to the board to further accelerate growth, identifying Applebee's as a potential target.

"Of course, no one borrows $2.3 billion just for revenge," Stewart said. "But we did borrow $2.3 billion and bought Applebee's."

After the acquisition, she called the Applebee's CEO and chairman. She informed him of the purchase and stated, "we don't need two leaders, and you're fired."

Minh Phuong (According to People)