Friday May 1, 8:02 am Eastern Time
Company Press Release
SOURCE: Boston Chicken, Inc.
Boston Chicken Names Jenkins Chairman, CEO and President
GOLDEN, Colo., May 1 /PRNewswire/ -- Boston Chicken, Inc. (Nasdaq: BOST - news) today named J. Michael Jenkins,
former CEO and president of Vicorp, Inc., as chairman, CEO and president of the company. His appointment follows the
resignation of Saad Nadhir as co-chairman and CEO and Scott Beck as co- chairman and president.
Jenkins, 51, is a 37-year veteran of the restaurant industry, most recently serving as CEO and president of Denver-based
Vicorp, which operates and franchises more than 350 Village Inn and Bakers Square restaurants. Prior to joining Vicorp in
1994, Jenkins served as chairman and CEO of Dallas-based El Chico, Inc., operator and franchiser of El Chico restaurants.
Jenkins has also served as CEO and president of Metromedia Steak Houses, operator and franchiser of Ponderosa and
Bonanza steak houses; CEO and president of TGI Friday's; and as chairman and CEO of S&A Restaurant Corp., which
operated the Steak & Ale and Bennigan's concepts.
Nadhir, 44, said: ''Mike is what the Boston Market system really needs rights now. He's a great leader and operator with
considerable experience in improving the profitability of multi-unit foodservice concepts. Mike will bring to Boston Market a
passion for food, a passion for the business and with his extensive background in casual dining, a passion for hospitality.''
''These are challenging times for Boston Chicken,'' Jenkins said. ''However, I believe the excellent people who manage and
staff the stores along with the great staff at the support center in Golden will come together to strengthen the company's
position in the industry.''
Nadhir also resigned his position as chairman, CEO and president of Progressive Food Concepts, Inc., a wholly owned
subsidiary of Boston Chicken.
''I've known Mike for 15 years,'' Beck said. ''His operating and leadership skills, coupled with his 37 years of experience in
the business, will be good for Boston Chicken and are appropriate for the company at this time.''
In addition, the company announced that Mark W. Stephens, 43, has resigned as chief financial officer and vice-chairman of
the Boston Chicken board of directors. Jenkins has asked both Nadhir and Stephens to remain as consultants to the company
during a transition period.
Boston Chicken, Inc. franchises and operates retail food service stores under the Boston Market brand name that specialize in
fresh, convenient meal solutions, featuring homestyle entrees, fresh vegetables, sandwiches, salads and side dishes. Boston
Market combines the freshness and quality of traditional home cooking with convenience and value. As of December 28,
1997, the end of the company's fiscal year, there were 1166 Boston Market stores, of which 416 were company-owned, in
38 states and the District of Columbia.
SOURCE: Boston Chicken, Inc. |
