LAKEWOOD, Colo., Dec. 3 CO-BAGL-O'Neill-CEO
LAKEWOOD, Colo., Dec. 3 /PRNewswire-FirstCall/ -- Einstein Noah Restaurant
Group (Nasdaq: BAGL), a leader in the quick-casual segment of the restaurant
industry operating primarily under the Einstein Bros.(R) Bagels, Noah's New
York Bagels(R), and Manhattan Bagel(R) brands, today announced that it has
appointed Jeff O'Neill as chief executive officer and as a director, effective
immediately. Paul Murphy, who had been chief executive officer, president,
and director since October 2003, has resigned.
Mr. O'Neill is a 20-year Food and Beverage Industry veteran with an
extensive leadership background in brand marketing, strategic planning and
operations. He joins Einstein Noah from Priszm Income Fund in Toronto,
Canada, where he held the titles of chief operating officer, president and
most recently, chief executive officer. Priszm is the master franchisee for
KFC in Canada, employs more than 9,000 people, and owns and operates 465 quick
service and quick casual restaurants (KFC, Taco Bell, and Pizza Hut) across
Canada. During his tenure at Priszm, Mr. O'Neill oversaw the doubling of the
very successful KFC/Taco Bell multi-brand concept to over 100 stores, as well
as significant new product innovation aimed at doubling the sandwich and
snacking segments within the KFC Brand in Canada. Prior to joining Priszm,
Mr. O'Neill held senior positions with some of the world's most recognized
brand names, including President of Pepsi Cola Canada, where he oversaw a
period of exceptional growth in market share, brand innovation, and
profitability.
Jeff O'Neill, chief executive officer of Einstein Noah, said, "I am
excited to be joining Einstein Noah at this time, to build on past
accomplishments, and to work with the team to develop new and exciting
business building initiatives designed to drive incremental sales and
profitability across the company."
Nelson Heumann, chairman of the board of Einstein Noah, said, "We are
pleased to welcome Jeff to Einstein Noah as chief executive officer and board
member. Jeff shares our excitement for the company and appreciates the
opportunity we have as a leader in the quick casual segment. We look forward
to leveraging his vast industry experience as we execute our plan and lay the
groundwork for Einstein Noah's bright future." Heumann continued, "On behalf
of the entire board of directors, I would also like to thank Paul Murphy for
providing his leadership to the company for more than 16 years. Paul has
decided to make a change and has worked closely with the board to ensure a
smooth transition. We are proud of what he has accomplished at Einstein Noah
in positioning our brands for success, and we wish him well in the future."
About Einstein Noah Restaurant Group
Einstein Noah Restaurant Group is a leading company in the quick casual
restaurant industry that operates locations primarily under the Einstein
Bros.(R) Bagels and Noah's New York Bagels(R) brands and primarily franchises
locations under the Manhattan Bagel(R) brand. The company's retail system
consists of more than 600 restaurants, including more than 100 license
locations, in 36 states plus the District of Columbia. It also operates a
dough production facility. The company's stock is traded under the symbol
BAGL. Visit http://www.einsteinnoah.com for additional information.
Contacts:
Investor Relations
Tom Ryan
203-682-8200
tryan@icrinc.com
Raphael Gross
203-682-8200
rgross@icrinc.com
Rick Dutkiewicz
Chief Financial Officer
303-568-8004
rdutkiewicz@einsteinnoah.com
SOURCE Einstein Noah Restaurant Group
