BJ's Restaurants, Inc. Holds Annual Meeting of Shareholders; Names New Chairman and Lead Independent Director
June 04 2008 - 8:16PM
Business Wire
BJ�s Restaurants, Inc. (NASDAQ:BJRI) held its annual meeting of
shareholders on Wednesday, June 4, 2008. Shareholders re-elected
Paul A. Motenko, Jeremiah J. Hennessy, Gerald W. Deitchle, Peter A.
Bassi, Larry D. Bouts, Shann M. Brassfield, James A. Dal Pozzo, J.
Roger King and John F. Grundhofer to the Board of Directors to
serve for one-year terms until the next annual meeting.
Additionally, shareholders also ratified the selection of Ernst
& Young LLP to serve as the Company�s independent registered
public accounting firm for fiscal 2008. The Company also announced
that the board of directors has unanimously elected Gerald W.
(Jerry) Deitchle, President and CEO, to the additional post of
Chairman of the Board, and Peter A. (Pete) Bassi as the board�s
lead independent director. �I am very�grateful that Paul Motenko
and Jerry Hennessy, our co-founders and former co-chairmen, will be
continuing their valuable service and support to BJ�s as members of
our board,� commented Deitchle. At the annual shareholders�
meeting, BJ�s leadership team presented an update of the Company�s
strategic business and growth plan. The slide presentation can be
viewed on the �Investors� page of the Company�s website located at
www.bjsrestaurants.com. �We remain highly confident about BJ�s
opportunity to continue executing its longer-term growth plan and
thereby gain additional market share in the estimated $90 billion
casual dining segment of the restaurant industry,� said Deitchle.
�With only 71 restaurants open today, we believe that we are only
about a fourth of the way to opening our current estimate of
approximately 300 domestic restaurants of various site types and
sizes. While the current operating environment remains very
difficult for casual dining restaurants in general, we believe the
BJ�s restaurant concept is well positioned with greater quality,
differentiation and value compared to most of our �mass market�
casual dining competitors and offers us a good opportunity to
outperform our similarly-situated peers during these challenging
times.� BJ's Restaurants, Inc. currently owns and operates 71
casual dining restaurants under the BJ's Restaurant & Brewery,
BJ's Restaurant & Brewhouse or BJ's Pizza & Grill brand
names. BJ's restaurants offer an innovative and broad menu
featuring award-winning, signature deep-dish pizza complemented
with generously portioned salads, appetizers, sandwiches, soups,
pastas, entrees and desserts. Quality, flavor, value, moderate
prices and sincere service remain distinct attributes of the BJ's
experience. The Company operates several microbreweries which
produce and distribute BJ's critically acclaimed handcrafted beers
throughout the chain. The Company's restaurants are located in
California (39), Texas (11), Arizona (4), Colorado (3), Oregon (2),
Nevada (2), Florida (4), Ohio (2), Oklahoma (2), Kentucky (1) and
Indiana (1). The Company also has a licensing interest in a BJ's
restaurant in Lahaina, Maui. Visit BJ's Restaurants, Inc. on the
Web at http://www.bjsrestaurants.com. Certain statements in the
preceding paragraphs and all other statements that are not purely
historical constitute "forward-looking statements" for purposes of
the Securities Act of 1933 and the Securities and Exchange Act of
1934, as amended, and are intended to be covered by the safe
harbors created thereby. Such statements include, but are not
limited to, those regarding expected comparable restaurant sales
growth in 2008, those regarding the effect of new sales-building
initiatives, as well as those regarding the number of restaurants
expected to be opened in 2008 and the timing and location of such
openings. These forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause
actual results to be materially different from those projected or
anticipated. Factors that might cause such differences include, but
are not limited to: (i) our ability to manage an increasing number
of new restaurant openings, (ii) construction delays, (iii) labor
shortages, (iv) minimum wage increases, (v) food quality and health
concerns, (vi) factors that impact California, where 39 of our
current 71 restaurants are located, (vii) restaurant and brewery
industry competition, (viii) impact of certain brewery business
considerations, including without limitation, dependence upon
suppliers and related hazards, (ix) consumer spending trends in
general for casual dining occasions, (x) potential uninsured losses
and liabilities, (xi) fluctuating commodity costs, the effect of
any resulting menu price increases on our sales, the availability
of food in general and certain raw materials related to the brewing
of our handcrafted beers and energy, (xii) trademark and
servicemark risks, (xiii) government regulations, (xiv) licensing
costs, (xv) beer and liquor regulations, (xvi) loss of key
personnel, (xvii) inability to secure acceptable sites, (xviii)
limitations on insurance coverage, (xix) legal proceedings, (xx)
other general economic and regulatory conditions and requirements,
(xxi) the success of our key sales-building and related operational
initiatives and (xxii) numerous other matters discussed in the
Company's filings with the Securities and Exchange Commission. BJ's
Restaurants, Inc. undertakes no obligation to update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise. For further information, please contact
Greg Levin of BJ�s Restaurants, Inc. at (714) 500-2400.
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