JAMBA, INC. NAMES KAREN L. LUEY VICE PRESIDENT, CONTROLLER AND PRINCIPAL ACCOUNTING OFFICER
SAN FRANCISCO, Apr 02, 2007 (BUSINESS WIRE) -- Jamba, Inc. (NASDAQ:JMBA; NASDAQ:JMBAU; NASDAQ:JMBAW) announces the appointment of Karen L. Luey as Vice President, Controller and Principal Accounting Officer. The appointment is effective April, 23, 2007, and represents a new position for the popular freshly blended beverage company. Ms. Luey will report directly to Chief Financial Officer Don Breen and will be responsible for leading the strategy, planning and daily activities of SEC Reporting, SOX compliance, General Accounting, Payroll, Accounts Payable, Accounts Receivable, Tax, and Treasury.
Ms. Luey brings more than 20 years of finance and accounting experience to Jamba, Inc. Prior to Jamba, she was Vice President, Corporate Controller and Principal Accounting Officer at the educational toy retailer LeapFrog Enterprises, where she oversaw corporate and international finance and accounting, close and consolidations, SEC and SOX compliance, Accounts Receivable, Accounts Payable, and Payroll . Prior to LeapFrog, Ms. Luey held a number of increasingly responsible positions at Sharper Image Corporation from 1990 to 1997, and then returned to the company from 2000 to 2005, culminating her tenure as VP Finance and Controller. In addition to managing daily accounting activities, she leveraged larger credit lines, managed Wall Street communications and implemented various systems for effective reporting, all while leading a dedicated team of employees. From 1997 - 2000, Ms. Luey served as Vice President, Finance and Controller at Discovery Channel Retail where was responsible for all financial accounting functions for the consumer products division of the media and entertainment giant.
Ms. Luey received a B.S. in accounting from California State University, Hayward.
"As with all our employees, teamwork and the ability to build great teams is a key attribute we look for, and Karen fits that bill," said Don Breen. "Rapid growth in a new public company requires adding skilled talent. Karen's background as an experienced public company controller and principal accounting officer with very broad functional responsibilities and expertise in specialty retail public companies makes her a welcomed asset to Jamba."
Earlier this year, the company announced a merger with Services Acquisition Corp. International, a blank check public company created to merge with another company. On November 29, 2006 the transaction closed, the name of the company changed to Jamba, Inc. and the stock of Jamba, Inc., began trading on the NASDAQ exchange. In response to its new public status, Jamba Juice looked to hire an outstanding experienced public reporting and financial executive to fill a new and challenging role.
"This is an exciting time to join Jamba Juice," notes Ms. Luey. "The brand is recognized as the leader in the industry and I'm excited to work with Don Breen and his team in leading Jamba Juice in its role as a public company."
Ms. Luey divulges that her favorite Jamba menu offering is the popular Banana Berry. "I've never worked at a company with a bank of blenders in the employee kitchen. I plan to take full advantage!"
ABOUT JAMBA JUICE
Jamba, Inc. is a holding company and through its subsidiary Jamba Juice Company, owns and franchises JAMBA JUICE(R) stores. Founded in 1990, JAMBA JUICE(R) is the category-defining leader in healthy blended beverages, juices, and good-for-you snacks. Today, JAMBA JUICE(R) has more than 600 stores, of which more than 375 are company-owned and operated. For the nearest location or a complete menu including new All Fruit(TM) smoothies, please call: 1-866-4R-FRUIT or visit the JAMBA JUICE(R) website at http://www.jambajuice.com.
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