Jamba Juice Hires David A. Pace as New Chief Executive Officer
Existing Director Richard L. Federico named Chairman
EMERYVILLE, Calif. - (BUSINESS WIRE) - January 22, 2016 - Jamba, Inc. (NASDAQ:JMBA) (“Jamba” or the “Company”), a leading health and wellness brand, today announced that David A. (Dave) Pace will be the company’s next Chief Executive Officer. Mr. Pace, a member of Jamba’s Board of Directors (the “Board”) since 2012, succeeds James D. White. Mr. Pace has been appointed CEO effective today, and will start with the Company on March 14th. Jamba also announced that Richard L. (Rick) Federico, a member of the Board since 2006 and most recently Chief Executive Officer of P.F. Chang’s China Bistro Inc, will assume the role of Chairman and remain an independent director on the Board, effective immediately.
Mr. Pace, 56, joins Jamba from Bloomin’ Brands, where he served as Executive Vice President and President of its Carrabba’s Italian Grill since 2014. Before he oversaw the domestic operations and development of Carrabba’s, Mr. Pace was Bloomin’ Brands’ Chief Resources Officer and was responsible for Fleming’s Prime Steakhouse & Wine Bar and Roy’s Hawaiian Fusion, in addition to overseeing the Real Estate/Development and Human Resources functions. Prior to joining Bloomin’ Brands in 2010, Mr. Pace held executive positions with Starbucks Coffee Company, PepsiCo and Yum! Brands, Inc.
“After a comprehensive executive search conducted by the Board and aided by The Elliot Group, Dave emerged from a deep pool of highly skilled candidates as the clear choice to serve as Jamba’s next CEO,” said Andrew Heyer, lead Independent Director of the Board. “As a seasoned restaurant professional, Dave brings to Jamba a tremendous amount of experience gained from his time at some of the industry’s top consumer and franchise brands. His strong track record of financial and operational success, most recently helping Carrabba’s solidify its position as Casual Dining’s #1 Italian restaurant concept, will prove vital in Jamba’s continued quest to create extraordinary value for our customers, shareholders and employees.”
Mr. Heyer continued: “Rick’s reputation as one of the most well respected executives in the restaurant industry, along with his intimate knowledge of Jamba’s operations and strategic goals, were instrumental in the Board’s unanimous decision to have him serve as the Company’s Chairman.
“Jamba is uniquely positioned as the leading health and wellness brand in the restaurant industry, and I am honored to be given an opportunity to lead the Company’s operations and continued growth,” said Mr. Pace. “Having served as a Director of Jamba for the last three years, I have a strong understanding of the unique opportunity that Jamba has to build on its leadership position within the quick serve, health and wellness category. We have a phenomenal brand, engaged franchisees and a talented team, all of which are key ingredients that will allow Jamba to reach its full potential for customers, employees, and shareholders.”
Mr. Pace graduated with a Bachelor of Science in Industrial and Labor Relations from Cornell University.
About Jamba, Inc.
Jamba, Inc., owns and franchises Jamba Juice® stores through its wholly-owned subsidiary, Jamba Juice Company. Jamba Juice Company is a leading restaurant retailer of better-for-you, specialty beverage and food offerings, which include great tasting, whole fruit smoothies, fresh-squeezed juices and juice blends, hot teas and a variety of food items including, hot oatmeal, breakfast wraps, sandwiches, Artisan Flatbreads™, Energy Bowls™, baked goods and snacks. As of September 29, 2015, there were 884 store locations globally. There were 94 Company-owned and operated stores and 720 franchise-operated stores in the United States, and 70 franchise-operated international stores. Jamba Juice Company expanded the Jamba® brand by direct selling of consumer packaged goods (“CPG”) and licensing its trademarks. CPG products for at-home enjoyment are also available online, through select retailers across the nation and in Jamba® outlets in the United States.
Fans of Jamba Juice® can find out more about Jamba Juice's locations as well as specific offerings and promotions by visiting the Jamba Juice website at www.jambajuice.com or by contacting Jamba’s Guest Services team at 1-866-4R-FRUIT (473-7848).
SOURCE Jamba, Inc.
Dir. Corporate Communications