Ruth's Hospitality Group, Inc. Announces Appointment of New President and Chief Executive...
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Ruth's Hospitality Group, Inc. Announces Appointment of New President and Chief Executive Officer
-Twenty Five Year Industry Veteran to Lead Company-
HEATHROW, Fla.--(Business Wire)--
The Board of Directors of Ruth's Hospitality Group, Inc. (Nasdaq:
RUTH) today announced the appointment of Michael P. O'Donnell as
President and Chief Executive Officer. In his new role, O'Donnell will
be responsible for the overall strategic and operational direction of
the company.
Rob Selati, Chairman of the Board, said, "On behalf of the entire
Board I'd like to welcome Mike to Ruth's Hospitality Group. Over his
25 year career in the restaurant business, he has served as President
and Chief Executive Officer of five diverse companies with multiple
brands and franchise operations. He has also operated through numerous
economic cycles and has consistently delivered strong results. Mike
has proven that he has the experience, leadership skills and
enthusiasm to work well with our experienced team and dedicated
franchisees to optimize the potential of our great brands and build
long term value for all stakeholders."
Mr. O'Donnell's most recent leadership experience includes serving
as the Chief Executive Officer, President and Chairman of the Board of
Champps Entertainment, Inc., an experience that culminated in the
successful sale of the company to Fox and Hound Restaurant Group in
late 2007. Prior to that, he held the position of President, Chief
Executive Officer and Director of Sbarro, Inc, where he was
responsible for all operational and strategic aspects of managing more
than 1,000 restaurants including Sbarro, Boulder Creek Steak & Saloon,
Rothmann's Steakhouse and Carmela's of Brooklyn brands, in 46 states
and 34 countries. Mr. O'Donnell's experience at Sbarro culminated in
the successful sale of the company to a private equity firm in early
2005, a transaction that resulted in significant value creation for
the existing shareholders of Sbarro.
Prior to that, Mr. O'Donnell held the position of President and
Chief Executive Officer of New Business at Outback Steakhouse, Inc,
where he had full responsibility for all non-Outback Steakhouse
brands, including Roy's, Fleming's Prime Steakhouse and Wine Bar,
Carrabba's Italian Grill and Cheeseburger in Paradise. Prior to that,
he served as President of the Roy's brand at Outback Steakhouse, Inc.
"I'm very excited to be joining Ruth's Hospitality Group. I
believe that both Ruth's Chris and Mitchell's are great brands with
terrific return on capital characteristics and significant expansion
potential. The teams at both brands have been doing an excellent job
in a challenging environment and I'm looking forward to working with
them to realize the full potential of these great assets," said
O'Donnell. "I also appreciate the fact that I will be working with an
experienced, dedicated and successful group of franchisees at Ruth's
Chris that is highly committed to perpetuating the wonderful legacy
established by Ruth Fertel. Finally, I relish the opportunity to work
closely with the Board at Ruth's Hospitality Group to deliver the
value that our shareholders deserve."
In addition to his role as President and CEO, Mr. O'Donnell will
serve as a full voting member of the Board of Directors. His
appointment to these positions is effective as of August 7, 2008.
About Ruth's Hospitality Group
Ruth's Hospitality Group, Inc. (Nasdaq: RUTH) is a leading
restaurant company focused exclusively on the upscale dining segment.
The Company owns the Ruth's Chris Steak House, Mitchell's Fish Market,
Mitchell's Steakhouse and Cameron's Steakhouse concepts. With more
than 144 company- and franchisee-owned locations worldwide, Ruth's
Hospitality Group was founded in 1965 and is headquartered in
Heathrow, Fla.
For further information about our restaurants, to make
reservations, or to purchase gift cards, please visit:
www.RuthsChris.com, www.MitchellsFishMarket.com,
www.MitchellsSteakhouse.com and www.Camerons-Steakhouse.com. For more
information about Ruth's Hospitality Group, please visit www.rhgi.com.
Media
Alecia Pulman, 646-227-1220
apulman@icrinc.com
OR
Investor Relations
Tom Ryan, 203-682-8200
tryan@icrinc.com
OR
Raphael Gross, 203-682-8200
rgross@icrinc.com
Copyright Business Wire 2008
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