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Papa Murphy's Take 'N' Bake Pizza Announces Appointment Of New Chief Executive Officer And Addition Of Chief Strategic Officer To Help Lead Chain Thro

By: Papa Murphy's |  11 Shares     221 Reads

VANCOUVER, WASH (Wednesday, July 13, 2005) - Papa Murphy's Take 'N' Bake Pizza, the world's largest and fastest-growing take-and-bake pizza chain, announces the appointment of John Barr as Chief Executive Officer and Jeffrey Hill as Chief Strategic Officer.

"John has been involved with Papa Murphy's for almost a year, working to position the company for accelerated growth," said Chairman Terry Collins. "We believe it's time for John to assume the official role of CEO overseeing all aspects of our business. I intend to stay intimately involved as Chairman, working closely with John on key strategic decisions and providing advice as needed."

Joining Papa Murphy's as Chief Strategic Officer is Jeff Hill, who has been working on a number of important projects at the company since November 2004. "Jeff will work closely with Mark Laramie and me to provide the day-to-day leadership of the company, as well as to oversee Papa Murphy's marketing efforts," said Barr. "Jeff is a great addition to our senior management team, and he brings a wealth of knowledge and experience to the organization." Mark Laramie will continue in his role as President and Chief Operating Officer. "Mark has been the main driver over the past three years in positioning the company strategically for future success, and he will continue to be an essential member of the new management team," stated Barr.

Together with John Barr and members of management, Charlesbank Capital Partners, a Boston-based private equity firm, recapitalized Papa Murphy's in July 2004.

This transaction brought fresh capital and new potential to a concept that had proven to be one of the best in the QSR industry and a leader in the pizza category. Co-founders Terry Collins and Bob Graham continue to be major investors in the new venture.

"We all owe Terry and Bob a debt of gratitude for the very strong business they built, and we, the new management team, are committed to continuing to build on Papa Murphy's strong organizational foundation," said Barr.

About Papa Murphy's.

Papa Murphy's is the sixth-largest pizza chain in the country and the pioneer of take-and-bake pizza. More than 850 Papa Murphy's locations operate in 28 states, and
the company plans to open more than 100 additional restaurants in 2005. The Vancouver, Wash.-based company offers custom-made specialty pizzas using the freshest, highest-quality ingredients. Papa Murphy's pizzas are available for pick-up and can be baked at home when the customer is ready to eat. In addition to its pizza products, the company offers a wide spectrum of Take 'N' Bake food - including cheesy bread, chocolate chip cookie dough and dessert pizzas, as well as salads. Papa Murphy's was selected Best Pizza Chain in America in 2003 and 2004 by Restaurants and Institutions magazine, and was named Pizza Chain of the Year in 2001 by Pizza Today magazine.

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