Potbelly Appoints Alan Johnson as President and Chief Executive Officer
December 01 2017 - 4:01PM
Potbelly Corporation (NASDAQ:PBPB) today announced that the Board
of Directors has appointed Alan Johnson as the Company's President
and Chief Executive Officer and as a member of the Board of
Directors. Mr. Johnson succeeds Michael Coyne, who has served as
interim CEO. Mr. Coyne will continue to serve as the Company's
Chief Financial Officer.
“We are pleased to welcome Alan to Potbelly and to
the Board,” said Pete Bassi, Chairman of the Board of Potbelly
Corporation. “Alan is a dynamic leader with a long and proven track
record of successfully leading retail and restaurant brands.”
During his more than 30 years of experience, Mr. Johnson has led
retail and restaurant organizations through successful turnarounds
and through periods of exceptional growth. Most recently, Mr.
Johnson provided strategic and executional consulting services to
organizations in transition. Prior to that, for more than six years
Mr. Johnson served as Chief Executive Officer of BevMo!, a
specialty retailer of alcoholic beverages and related products. Mr.
Johnson led BevMo! to its fastest growth in its 21 year history. He
developed and executed BevMo!’s strategic initiatives, including
repositioning the brand, that significantly grew revenue to
approximately $800 million and more than doubled profit.
Mr. Johnson has extensive experience in retail and restaurant
operations, real estate site development, marketing, and finance.
Mr. Johnson served as Chief Operating Officer and Chief Financial
Officer for PepsiCo’s Eastern Europe restaurant division and as
International Strategic Planning Director for Pizza Hut
International. Mr. Johnson was also the Chief Operating Officer of
Regal Theaters (formerly known as Hoyts Cinemas) and Senior Vice
President and General Manager for Walt Disney Parks &
Resorts.
The Board and the Strategic Review Committee remain engaged with
our financial advisor J.P. Morgan Securities, LLC, in evaluating a
range of strategic alternatives. Potbelly remains committed to
pursuing strategic options that would potentially significantly
enhance shareholder value.
“Potbelly is a fantastic brand with tremendous potential. I am
honored and excited to lead this Company,” said Mr. Johnson. “I am
enthusiastic about supporting the Board’s evaluation of strategic
options to maximize shareholder value and look forward to engaging
with our shareholders, employees, franchisees, and customers as we
chart the optimal future course for Potbelly. The great food,
differentiated customer experience, and incredible people are a
solid foundation for continued evolution of this brand and Company.
I look forward to working with our leadership team and
employees.”
Pete Bassi concluded, “I am confident Alan’s exceptional
analytical and leadership skills make him an ideal choice for
Potbelly, its shareholders, and employees. He is a great cultural
fit for our Company and the Potbelly brand. Mike Coyne’s material
contributions as interim CEO have been invaluable and we look
forward to having Alan partner with Mike to build value for our
shareholders.”
About Potbelly
Potbelly Corporation is a fast-growing neighborhood sandwich
concept offering toasty warm sandwiches, signature salads and other
fresh menu items served by engaging people in an environment that
reflects the Potbelly brand. Our Vision is for our customers
to feel that we are their “Neighborhood Sandwich Shop” and to tell
others about their great experience. Our Mission is to make
people really happy and to improve every day. Our Passion is
to be “The Best Place for Lunch.” The Company owns and
operates over 400 shops in the United States and our franchisees
operate over 40 shops domestically, in the Middle East, the United
Kingdom and Canada. For more information, please visit our
website at www.potbelly.com.
Contact:
Investor RelationsInvestors@Potbelly.com312-428-2950
Potbelly (NASDAQ:PBPB)
Historical Stock Chart
From Aug 2024 to Sep 2024
Potbelly (NASDAQ:PBPB)
Historical Stock Chart
From Sep 2023 to Sep 2024