Denny's Elects Two New Members to Board of Directors
SPARTANBURG, S.C.--(BUSINESS WIRE)--May 21, 2008--Denny's Corporation (NASDAQ: DENN) announced Louis P. Neeb, chairman of the board of directors, Mexican Restaurants, Inc., and Donald C. Robinson, president of Baha Mar Resorts, Ltd., were elected to the company's nine-member board at the annual shareholders' meeting held today in Spartanburg, S.C.
Neeb and Robinson will each serve as a director for a term of at least one year. They join current directors, Vera K. Farris, Brenda J. Lauderback, Nelson J. Marchioli, Robert E. Marks, Michael Montelongo, Donald R. Shepherd and Debra Smithart-Oglesby, who were re-elected. Current director Henry J. Nasella did not stand for re-election.
"We are pleased to welcome Lou and Don to the Denny's board," said Debra Smithart-Oglesby, Denny's board chair. "Their experience in the restaurant and hospitality industry complements our present board and will undoubtedly contribute greatly to our meeting the challenges of the current and future economic and operating environment. Lou has an accomplished 35-year career in the restaurant industry, leading and consulting for many well-known brands, and Don has a distinguished 33-year career with Walt Disney World and currently leads Baha Mar Resorts."
"It is also important that we share our thanks to Henry Nasella for his years of service to the board. Henry joined us in 2004 and his retail and financial experience and leadership have been invaluable, as we have worked with Denny's senior management to evolve the company's business model," Smithart-Oglesby said.
Neeb, 69, has served as chairman of the board of directors for Mexican Restaurants, Inc., since 1995. He has also served as that company's chief executive officer from 1996 to 2000 and interim president from 1997 to 1998. Additionally, he has owned and operated a restaurant consulting company since 1982. He is also a director of CEC Entertainment, Inc. Prior to Mexican Restaurants, he held senior leadership positions at Spaghetti Warehouse, Inc., Taco Villa, Inc., Burger King Corporation and Steak & Ale Restaurants.
Robinson, 55, is president of Baha Mar Resorts, Ltd., a position he has held since 2005. He currently serves on the board of directors of Baha Mar Resorts and is an executive director of the Nassau Paradise Island Promotion Board. He was managing director of Hong Kong Disneyland from 2001 to 2005 and senior vice president of Walt Disney World Operations from 1998 to 2001. He joined Walt Disney World's Food & Beverage Operations while attending college.
Departing board member Henry Nasella is co-founder and partner at LNK Partners, LLC, a private equity firm. He served Denny's on the board's Audit and Finance Committee and Corporate Governance and Nominating Committee.
Denny's Corporation reported 2007 systemwide sales of more than $2.4 billion on 1,546 company and franchise restaurants.
Denny's is America's largest full-service family restaurant chain, consisting of 373 company-owned units and 1,177 franchised and licensed units, with operations in the United States, Canada, Costa Rica, Guam, Mexico, New Zealand and Puerto Rico. For further information on Denny's, including news releases, links to SEC filings and other financial information, please visit our website at www.dennys.com.
SOURCE: Denny's Corporation