Famous Dave's Announces Changes to Management and Board of Directors
Company Added
Company Removed
Apply to Request List

Famous Dave's Announces Changes to Management and Board of Directors

MINNEAPOLIS - May 23, 2014 // GLOBE NEWSWIRE // - Famous Dave's of America, Inc. (Nasdaq:DAVE), today announced the official appointment of Ed Rensi as Chief Executive Officer. The company also announced Richard A. Pawlowski will be named the company's Chief Financial Officer, effective June 2, 2014. Pawlowski has experience in acquisition and turnaround strategies, particularly with regard to restaurant companies, and was most recently CEO and co-founder of Capitol C Holdings, LLC, a restaurant development, acquisition and operating company. Previously, Richard worked with Bain & Company. Richard earned his MBA from Harvard Business School and undergraduate degree in Engineering in Metallurgy, Economics and Management from the University of Oxford.

Diana Purcel, the company's former Chief Financial Officer and Corporate Secretary, will be leaving the company to pursue other opportunities. Effective immediately, John P. Beckman, Director of Finance, Accounting and Audit, will become the company's Chief Accounting Officer. Purcel, who has served as Famous Dave's CFO and Corporate Secretary since 2003, will remain with the company through July 1, 2014 for transition purposes.

"Diana has demonstrated outstanding leadership during her 10 plus years with Famous Dave's," said Ed Rensi. "I have great respect for her talents and on behalf of the management team and the board, I want to thank Diana for her contributions and dedication and wish her every success in her future endeavors. Additionally, we welcome Richard to the team as we prepare for our next chapter of growth."

In addition, Famous Dave's announced the resignation of two board members, Richard Monfort and Lisa Kro, effective May 21, 2014, who have served on the company's board of directors since 1996 and 2009, respectively. Concurrently with the resignations, the company announced the addition of two new board members, Jonathan Lennon and Brett D. Heffes.

Mr. Lennon is the Founder and Portfolio Manager of Pleasant Lake Partners, a global concentrated equity investment fund and 12.8% investor in Famous Dave's. Prior to founding Pleasant Lake Partners, he was an analyst at JAT Capital, and prior to that, he was in the Investment Banking division of Goldman Sachs & Co.

Mr. Heffes, who will take over as audit committee chair, is currently President of Winmark Corporation, a franchisor of five value-oriented retail store concepts and a technology equipment leasing company focused on middle market customers. During the past twelve years, he has served in numerous positions for Winmark, including President of Finance and Administration, Chief Financial Officer and Treasurer.

"Both Dick and Lisa have made significant contributions to Famous Dave's over the years, and their insights and expertise have been invaluable. We thank them both for their years of service and will miss them," said Dean Riesen, Famous Dave's Chairman of the Board. "Our company continues to evolve, however, and as such, we welcome new members, Jonathan and Brett to our board. I look forward to their contributions and working with them in building and growing this brand."

About Famous Dave's

Famous Dave's of America, Inc. develops, owns, operates and franchises barbeque restaurants. As of today, the company owns 53 locations and franchises 141 additional units in 34 states, the Commonwealth of Puerto Rico, and one Canadian province. Its menu features award-winning barbequed and grilled meats, an ample selection of salads, side items and sandwiches, and unique made-from-scratch desserts.

Statements in this press release that are not strictly historical, including but not limited to statements regarding the timing of our restaurant openings and the timing or success of our expansion plans, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, which may cause the company's actual results to differ materially from expected results. Although Famous Dave's of America, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectation will be attained. Factors that could cause actual results to differ materially from Famous Dave's expectation include financial performance, restaurant industry conditions, execution of restaurant development and construction programs, franchisee performance, changes in local or national economic conditions, availability of financing, governmental approvals and other risks detailed from time to time in the company's SEC reports.

SOURCE  Famous Dave's of America

Contact:

Paul Ziccarelli
General Counsel
952-294-1300

###

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

Perspire Sauna Studio®
The hottest new franchise is here (literally 150°). Perspire has developed, formulated and tested the most superior infrared sauna studio model and...
Rent-A-Center
Taking re-franchising to a whole new level. Learn more about acquiring 20 or more operating units of a national brand with low labor, quality...
Executive Care
Executive Care is more than just a Senior Care company. We are a full-service home health care company serving clients from infants to seniors. Our...
ZIPS Dry Cleaners
ZIPS, since 1996, began as eight dry cleaners in the Baltimore-Washington, D.C., metro area and has grown to more than 40 stores. Find out more.
Freezing Moo
Everyone in the Freezing Moo family aims to bring a taste of joy and a fun experience to all who visit Freezing Moo’s locations — one cup at a...
Share This Page

Subscribe to Our Newsletters

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2019.
All Rights Reserved.