Ruby Tuesday Announces the Appointment of James F. Hyatt as President and Chief Executive Officer
April 06 2017 - 4:15PM
Business Wire
Restaurant Industry Veteran and Proven
Executive to Lead Iconic American Brand
Ruby Tuesday, Inc. (NYSE: RT) today announced the Company has
named James “Jim” F. Hyatt, II as President and Chief Executive
Officer and a member of the Board of Directors, effective
immediately. Mr. Hyatt brings more than forty years of leadership
experience in the restaurant industry to these roles and will lead
the Company as it continues exploring strategic alternatives as
previously announced. Lane Cardwell, Interim President and Chief
Executive Officer, will remain a member of the Board of
Directors.
“I am pleased to welcome Jim to Ruby Tuesday and our Board of
Directors. As an industry veteran and proven leader, Jim brings to
us a wealth of knowledge and experience including significant
operating expertise in driving sales and profitability. His
skillset will be valuable as we evaluate all strategic options and
will not alter that process other than to add Jim’s expertise to
the Board. Should the Board elect to remain an independent company
following the review, Mr. Hyatt will remain in his role as CEO,”
said Stephen Sadove, Non-Executive Chairman of Ruby Tuesday,
Inc.
Most recently, Mr. Hyatt served as Chief Executive Officer of
Church’s Chicken from September 2011 through November 2016 and
remains a member of the Company’s Board of Directors. During his
tenure at Church’s Chicken, Mr. Hyatt implemented a multi-tiered
strategy to revitalize the brand, centering on the total guest
experience including a focus on product consistency, product
innovation, speed of service, facility management, unit
profitability and operator engagement along with rolling out a
global re-image standard for the brand. Prior to Church’s Chicken,
Mr. Hyatt held the role of President and Chief Executive Officer of
Cosí from September 2007 through September 2011.
Prior to Cosí, Mr. Hyatt spent 35 years in the QSR category with
31 years at Burger King including 11 years as one of the most
successful multi-unit franchisees. He was then recruited to join
Burger King’s corporate executive team in Miami to support a brand
turnaround in 2002 with new private equity owners. As Executive
Vice President and Chief Global Operations Officer, Mr. Hyatt was
responsible for the performance of 13,000 restaurants and the
global franchisee community in over 65 countries. Through the
design and execution of five financial and operational platforms
that helped galvanize the franchise community behind its brand
goals and visions of the future, Mr. Hyatt helped Burger King
achieve a successful public offering on the New York Stock Exchange
(NYSE) in 2006. Mr. Hyatt also served as Director of Operations for
Hardee's Restaurants Inc. from 1986 to 1990.
“Ruby Tuesday is an iconic American brand, set apart within the
casual dining industry by its unique Garden Bar. I have been both a
fan and customer of the brand for many years and I look forward to
working with the Board and senior management as we lead the Company
through its next chapter,” said Mr. Hyatt.
Mr. Sadove continued, “On behalf of the Board and the entire
organization, I’d like to thank Lane for his dedication and
commitment to Ruby Tuesday during his period as interim CEO. We
appreciate his leadership and look forward to his continued role as
a member of the Board.”
About Ruby Tuesday, Inc.
Ruby Tuesday, Inc. owns and franchises Ruby Tuesday brand
restaurants. As of February 28, 2017, there were 607 Ruby Tuesday
restaurants in 41 states, 14 foreign countries, and Guam. Of those
restaurants, we owned and operated 544 Ruby Tuesday restaurants and
franchised 63 Ruby Tuesday restaurants, comprised of 17 domestic
and 46 international restaurants. Our Company-owned and operated
restaurants are concentrated primarily in the Southeast, Northeast,
Mid-Atlantic, and Midwest of the United States, which we consider
to be our core markets. For more information about Ruby Tuesday,
please visit www.rubytuesday.com. Ruby Tuesday, Inc. is traded on
the New York Stock Exchange (Symbol: RT).
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version on businesswire.com: http://www.businesswire.com/news/home/20170406006234/en/
ICRMedia RelationsJessica Liddell,
203-682-8208RubyTuesday@icrinc.comorInvestor RelationsMelissa
Calandruccio, CFA, 646-277-1273RubyTuesdayIR@icrinc.com
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