Quiznos Names Food Service Veteran Harsha V. Agadi As Executive Chairman
Greg MacDonald to Continue as President and CEO; Company Announces New Board Members
DENVER--(BUSINESS WIRE)--Quiznos, one of the nation’s premier quick-service restaurant chains and pioneer of the toasted sandwich, today announced it has named Harsha V. Agadi as executive chairman of its Board of Managers. Originally from Mumbai, India, Mr. Agadi brings more than 25 years’ experience with food service companies to the position, having worked with Domino’s Pizza, Pepsi, Kraft, General Foods, Little Caesars Enterprises, Church’s Chicken, and most recently, Friendly’s Ice Cream Company. Mr. Agadi will be supported by several other new board members, as well as Quiznos current CEO Greg MacDonald who has been with the brand for more than a decade.
“We are pleased to have attracted someone of Harsha Agadi’s caliber to Quiznos”
“We have confidence in Greg MacDonald and his team as they work to revitalize Quiznos and reinforce the brand’s promise as a fresh, high-quality and great-tasting alternative to traditional fast food offerings,” Agadi said. “Working together, we believe we have developed a financial plan that will allow the company to move toward achieving its long-term strategic goals. We are excited to be part of the Quiznos team and look forward to working with management, the franchise owners and the employees in the weeks and months ahead. The future of Quiznos is purely dependent on franchise profitability and same store sales and that is our fundamental focus.”
The addition of Mr. Agadi and appointment of new board members, as well as Quiznos’ strengthened financial position will enable the company to focus on its signature best-in-class offerings for its customers in restaurants throughout the world.
"We are pleased to have attracted someone of Harsha Agadi’s caliber to Quiznos,” said MacDonald. “Our objective is to reinvigorate and continue the development of the unique, global Quiznos brand. Bringing the knowledge and experience of Mr. Agadi to bear on this company will help us drive the business forward and maintain its position as one of the premier QSR companies in the world.”
The new Board of Managers also includes the following restaurant industry veterans:
Ms. Babrowski has served as Chief Restaurant Operations Officer at McDonald’s, EVP/COO at Toys “R” Us and President, COO and interim CEO at RadioShack.
Mr. Benham currently serves on the Boards of Directors of Sonic and O’Charley’s. His previous experience includes President and CEO of Arby’s Restaurant Group, Inc., as well as CFO of RTM Restaurant Group.
Mr. Knight’s career includes senior management and marketing positions with Procter & Gamble and eBay, as well as PepsiCo, where he served as General Manager of North Latin America for KFC, head of marketing for KFC International and Chief Marketing Officer for Taco Bell.
Now in its 31st year, Denver-based Quiznos is a national and international chain designed for today's busy consumers who are looking for a tasty, freshly prepared alternative to traditional fast-food restaurants. With locations in all 50 states and Puerto Rico, as well as 25 international countries, Quiznos restaurants use premium ingredients to offer creative, chef-inspired recipes for sandwiches, soups and salads.
CNN Money ranked toasty sub pioneer Quiznos as the No. 2 most popular franchise of the past decade in 2010. In 2009, Quiznos’ Toasty Torpedoes® earned a spot as one of the top 10 new product introductions from the Most Memorable New Product Launch Survey. In 2011, QSR Magazine ranked Quiznos No. 21 overall in its Top 50 Chains in system-wide sales. In October 2007, Quiznos was recognized for leading the QSR industry in wait time performance by the Mystery Shopping Providers Association's (MSPA) 2007 Wait Time Study. In May 2007, Zagat’s consumer surveys listed Quiznos in the top 5 for Top Food, Top Facilities, Top Service and Top Overall, ahead of its direct competitors. For further information, please visit www.quiznos.com.
Coltrin & Associates, for Quiznos
Mark Beck, 212-221-1616