Caribou Coffee Appoints New President and CEO
August 04 2008 - 5:27PM
Business Wire
Caribou Coffee Company, Inc. (NASDAQ:CBOU), the second largest
U.S.-based company-owned gourmet coffeehouse operator based on the
number of coffeehouses, announced today that Michael Tattersfield
has been named President and Chief Executive Officer. Tattersfield
succeeds Rosalyn �Roz� Mallet who was appointed Interim Chief
Executive Officer in November 2007. Tattersfield�s career spans
approximately 20 years of finance, operations and general
management experience, both domestically and internationally, in
the restaurant and specialty retail industries. His 13-year career
with YUM! Brands included extensive branding and franchise
leadership experience, including positions of CEO and Managing
Director of Puerto Rico for Kentucky Fried Chicken, Taco Bell and
Pizza Hut, CFO of YUM! Brands� Mexico business and President of
A&W All American Food Restaurants. His retail positions have
included Vice President Store Operations at Limited Brands and most
recently in his last role, Tattersfield served as Chief Operating
Officer and Executive Vice President of lululemon athletica, a
yoga-inspired athletic apparel company. For almost two years, he
was instrumental in leading lululemon through a period of
impressive growth during which the company attained more than 130
percent revenue growth, began building its operational strategy,
added a multi-year development pipeline and created a real estate
strategy resulting in impressive returns on investment and sales
per square foot. In 2007, the company underwent a successful
initial public offering. Tattersfield holds a B.S. in accounting
from Indiana University and an MBA from Harvard Business School.
�Michael Tattersfield�s industry experience in shaping and
executing brand strategies will be an added benefit to Caribou
Coffee in addition to his financial and operational expertise,�
said Gary Graves, Chairman of the Caribou Coffee Board of
Directors. �Caribou Coffee is focused on strategic growth,
domestically and internationally, and Mike will guide Caribou
Coffee through continued growth and expansion opportunities.� A
former Caribou Board member, President and Chief Operating Officer,
Roz Mallet was appointed Interim Chief Executive Officer in
November 2007. The Company has performed well during her tenure and
she is credited with establishing store standards and improving
brand performance. She will help facilitate the transition of
leadership. �The Board is deeply appreciative of Roz�s leadership
at Caribou, especially in her nine months as interim CEO,� stated
Graves. �Roz implemented numerous key strategic initiatives and
recent earnings have been well received by investors.� ABOUT
CARIBOU COFFEE Caribou Coffee (NASDAQ: CBOU), founded in 1992, is
the second-largest company-owned gourmet coffeehouse operator in
the world based on number of coffeehouses. At Caribou Coffee, our
mission statement is �an experience that makes the day better.� We
provide this by sourcing the highest-quality coffee in the world
and craft roasting it in small batches to bring out the best in
every bean. We then bring this extraordinary coffee to our
customers via several channels including grocery locations, online
or via our coffeehouses, which provide a relaxing escape for our
customers. Caribou Coffee is committed to expanding our business by
bringing this experience to new customers through multiple means
without compromising our unwavering commitment to quality. Caribou
Coffee is a proud recipient of the Specialty Coffee of America
Association's (SCAA's) 2008 Roasters Choice Tasting Competition
Gold Award. For more information, visit www.cariboucoffee.com.
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