Pizza Inn Names New Chief Financial Officer; Chain Hires Industry Veteran to Provide Financial Leadership
PIZZA INN, INC.
"For the past year we've been looking for the ideal CFO for this brand and now we've found him," said Tim Taft, President and CEO of Pizza Inn. "Not only does Charlie bring the right blend of financial and brand leadership to our company, he provides the final piece to the senior management team and its mission of building a better Pizza Inn."
In his position as CFO, Mr. Morrison will assume primary responsibility for leading Pizza Inn's financial planning and accounting activities. He will also oversee the chain's ongoing strategic planning efforts in addition to budgeting and accounting reporting requirements.
Prior to joining Pizza Inn, Mr. Morrison served as President for Steak and Ale® and The Tavern Restaurants, leading the chains to comparable store sales increases for two consecutive years while improving operating profits during the same period. Mr. Morrison also served as Chief Financial Officer for Steak and Ale® and Ponderosa® Restaurants in 2004. Prior to that, he served as Vice President of Finance for Kinko's, Inc., Director of Strategic Planning for Boston Market® and Director of Strategic Planning for Pizza Hut®.
"Pizza Inn is a brand rich with tradition," stated Mr. Morrison. "I look forward to working with Tim and the Pizza Inn team as we unlock the unlimited potential behind a brand that has served more than three generations of American families."
In connection with the appointment of Mr. Morrison, Clinton Coleman, who has served as Pizza Inn's Interim Chief Financial Officer (and who is a vice president with Newcastle Capital Management, L.P.), will relinquish his duties as had been planned.
Pizza Inn, Inc. (http://www.pizzainn.com/ ) is headquartered in The Colony, Texas, along with its distribution division, Norco Restaurant Services Company. Pizza Inn franchises approximately 363 restaurants and owns three restaurants with annual domestic and international chain-wide sales of approximately $150 million.
Contact: Danny Meisenheimer Vice President of Brand Management Pizza Inn, Inc. 469-384-5000
First Call Analyst:
SOURCE: Pizza Inn, Inc.
CONTACT: Danny Meisenheimer, Vice President of Brand Management of Pizza
Inn, Inc., +1-469-384-5000, or
Web site: http://www.pizzainn.com/