Michael
K. Ellis to Join O'Charley's as Chief
Development Officer
NASHVILLE, Tenn., May 30,
2007-Officials at O'Charley's Inc. (NASDAQ/NM:
CHUX), a leading casual-dining restaurant
company, today announced that Michael K.
Ellis is joining the company as chief development
officer. In his new position, he will source
and secure sites for new restaurants, identify
and implement strategies to reduce energy
and maintenance costs, and manage the construction
process for the company's rebranding programs.
Ellis
joins O'Charley's from BP Products North
America where he served as vice president
- asset management, responsible for all
aspects of development for a 3,500-unit
fuel, convenience store and food operation
under the BP Connect and Arco am/pm brands.
He also oversaw the firm's divestment program.
Previously,
he was senior vice president of development
for Carlson Restaurants Worldwide, where
in two years he completed a $70 million
restaurant remodel program and developed
two new restaurant prototypes. He also held
senior development positions at other international
restaurant companies, including Darden Restaurants,
Inc. and Burger King Corporation. At Darden,
he completed Olive Garden's 464-restaurant
repositioning program, Revitalia.
"Mike
has a tremendous amount of experience in
all aspects of development, from new construction
to renovation," said Gregory L. Burns,
O'Charley's Inc. chairman and CEO
"Given
his industry knowledge and proven record
of success, Mike is extremely well qualified
to help us achieve our ambitious development
goals."
Ellis
succeeds James Quackenbush, who is stepping
down from his current position to reside
full-time in Massachusetts with his family
and will remain as a consultant to the O'Charley's
Inc. Ninety Nine restaurant concept in support
of their real estate operations.
About O'Charley's Inc.
Headquartered in Nashville, Tenn., O'Charley's
Inc. is a multi-concept restaurant company
that operates or franchises a total of 363
restaurants under three brands: O'Charley's,
Ninety Nine Restaurant, and Stoney River
Legendary Steaks. The O'Charley's concept
includes 239 restaurants in 19 states in
the Southeast and Midwest, including 229
company-owned and operated O'Charley's restaurants
in 16 states, one franchised O'Charley's
restaurant in Iowa, four franchised O'Charley's
restaurants in Michigan, one franchised
restaurant in Ohio, three joint venture
O'Charley's restaurants in Louisiana and
one joint venture O'Charley's restaurant
in Wisconsin.
The
menu, with an emphasis on fresh preparation,
features several specialty items, such as
hand-cut and aged USDA choice steaks, a
variety of seafood and chicken, freshly
baked yeast rolls, fresh salads with special-recipe
salad dressings and signature caramel pie.
The company operates Ninety Nine restaurants
in 114 locations throughout Connecticut,
Maine, Massachusetts, New Hampshire, New
York, Rhode Island, Vermont and Pennsylvania.
Ninety Nine has earned a strong reputation
as a friendly, comfortable place to gather
and enjoy great American food and drink
at a terrific price. The menu features a
wide selection of appetizers, salads, sandwiches,
burgers, entrees and desserts. The company
operates 10 Stoney River Legendary Steaks
restaurants in Georgia, Illinois, Kentucky,
Missouri, Ohio and Tennessee. The steakhouse
concept appeals to both upscale casual-dining
and fine-dining guests by offering high-quality
food and attentive customer service typical
of high-end steakhouses, but at more moderate
prices.
Forward-Looking
Statements
The forward-looking statements in this press
release and statements made by or on behalf
of the company relating hereto, including
those containing words like "expect,"
"project," "believe,"
"may," "could," "anticipate,"
and "estimate," are subject to
the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995.
These forward-looking statements may be
affected by certain risks and uncertainties,
including, but not limited to, customer
acceptance of and the general success of
new menu items introduced by the company;
the company's ability to increase operating
margins and increase same-store sales at
its restaurants; the effect that
increases in food, labor, energy, interest
costs and other expenses have on the company's
results of operations; the company's ability
to successfully implement changes to its
supply chain; the company's ability to sell
closed restaurants and other surplus assets;
the possible adverse effect on the company's
sales of decreases in consumer spending;
the effect of increased competition; and
the other risks described in the company's
filings with the Securities and Exchange
Commission. In light of the significant
uncertainties inherent in the forward-looking
statements included herein, you should not
regard the inclusion of such information
as a representation by us that our objectives,
plans and projected results of operations
will be achieved. The company's actual results
could differ materially from such forward-looking
statements. The company does not undertake
any obligation to publicly release any revisions
to the forward-looking statements contained
herein to reflect events and circumstances
occurring after the date hereof or to reflect
the occurrence of unanticipated events.
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