Famous Dave's Names Wilson L. Craft as New CEO and President
March 24 2008 - 11:33AM
Business Wire
Famous Dave's of America, Inc. (NASDAQ: DAVE) today announced that
it had named Wilson L. Craft as its new president and chief
executive officer, and as a member of�its board of directors,
effective April 21, 2008. A 25-year veteran of the casual dining
industry, Craft, 54, is currently the executive vice president of
operations for Longhorn Steakhouse, a 300-unit chain based in
Atlanta, Georgia, that generated approximately $900 million in
annual sales in 2007. Longhorn was acquired last August by Darden
Restaurants, Inc., of Orlando, Florida. �Famous Dave�s is delighted
to have attracted an individual of Wilson Craft�s caliber to lead
our organization,� said K. Jeffrey Dahlberg, chairman of the board
of Famous Dave�s of America. �Wilson is a proven leader in the
industry, and his extensive experience in all aspects of casual
dining, as well as franchising, will allow him to guide our
company�s growth and further increase shareholder value.� Prior to
joining Longhorn in 2005, Craft was president of Chili�s Grill and
Bar of Dallas, Texas from 2003-2005, the country�s second largest
casual dining concept with more than 1,000 units worldwide,
including over 250 franchised units, and annual sales of $2.5
billion. He was the president of Big Bowl from 2000-2003, and chief
operations officer of Chili�s Grill and Bar from 1998-2000. �This
is a tremendous opportunity,� Craft said. �In its 13 years, Famous
Dave�s has built an incredibly solid reputation in the casual
restaurant industry. Its associates, its culture, the �cooked from
scratch� approach to all of its menu offerings distinguishes Famous
Dave�s in this category, with a broad and loyal following
nationwide. This is a great company and I�m eager to do my part to
continue to deliver strong results and to build this great brand.�
Under Wilson�s operations leadership, Longhorn was named by The
People Report as the casual dining concept with the �Best People
Practices� in 2007 and had the lowest manager and second lowest
staff turnover. In 2006, Chain Leader magazine named Longhorn as
one of the �best places to work in the restaurant industry.� �I
have known Wilson for more than 20 years,� said Lane Cardwell,
acting CEO and Famous Dave�s board member. �He is the right
individual at the right time to help us take Famous Dave�s to the
top. He is passionate in his approach to the business, and an
outstanding leader with a wealth of experience to move us into the
future with this fabulous company.� About Famous Dave�s Famous
Dave�s of America, Inc. develops, owns, operates and franchises
barbeque restaurants. As of today, the company owns 45 locations
and franchises 123 additional units in 35 states. Its menu features
award-winning barbequed and grilled meats, an ample selection of
salads, side items and sandwiches, and unique desserts. Statements
in this press release that are not strictly historical, including
but not limited to statements regarding the timing of our
restaurant openings and the timing or success of our expansion
plans, are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve known and unknown risks, which
may cause the company�s actual results to differ materially from
expected results. Although Famous Dave's of America, Inc. believes
the expectations reflected in any forward-looking statements are
based on reasonable assumptions, it can give no assurance that its
expectation will be attained. Factors that could cause actual
results to differ materially from Famous Dave's expectation include
financial performance, restaurant industry conditions, execution of
restaurant development and construction programs, franchisee
performance, changes in local or national economic conditions,
availability of financing, governmental approvals and other risks
detailed from time to time in the company's SEC reports.
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