Brazil Fast Food Appoints New Members to Board of Directors
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RIO DE JANEIRO--(Business Wire)--
Brazil Fast Food Corp. (OTC Bulletin Board: BOBS.OB) ("Brazil Fast Food", or the
"Company") the second largest restaurant chain with 678 points of sale,
operating under the Bob`s, KFC, Pizza Hut, and Doggis brands in Brazil,
announced today that it has appointed a reconstituted Board of Directors with
four new members to join the six member Board for a term expiring at the annual
meeting of stockholders in 2010.
On September 28, 2009, Lucio Montanini, Marcos Gouvêia de Souza, Alexandre F.
Nunes and Marcos Rocha were appointed, and Guillermo Hector Pisano and Gustavo
Villela Filho were reappointed to the Company`s Board of Directors. Mr. Pisano
will continue to serve as Chairman of the Board, and Mr. Villela will serve as
Secretary. The Board has also reconstituted its standing committees. As a
result, Mr. Montanini, Mr. Rocha and Mr. Pisano will serve on the Company`s
Audit Committee, and Mr. Villela, Mr. Gouvêa and Mr. Pisano will serve on the
Company`s Compensation Committee.
After seven years guiding the reconstruction of the Company, the two major
shareholders, José Ricardo Bomeny and Romulo Fonseca, and the two previous
leaders, Omar C. da Cunha and Peter Vader, have considered their mission
accomplished. As a result they have decided to bring a new team of Directors to
provide a new vision and new impulse to support the Company`s long term
multi-brand restaurant strategy. The new Directors, all professionals with
expertise in key areas, including retail market, corporate finance, tax
legislation, corporate laws and business administration, are independent members
of the Board complying with the Sarbanes-Oxley and Delaware regulations on this
matter. In order to ensure the continuity of the Company's culture and
proceedings, Guillermo Pisano and Gustavo Villela have been re-appointed to the
Board.
"We are pleased to announce our new Board of Directors," stated Ricardo Bomeny,
Brazil Fast Food`s Chief Executive Officer. "Each of the new directors bring to
our company significant experience in the critical areas of expertise necessary
to manage a successful business. I look forward to their contributions. I would
also like to thank the out-going members of our Board for their valuable
contribution to our success over the past several years."
Lucio Montanini is an independent consultant of the Audit Committee of the
Company. As a consultant he has been working since 2007 as a counsel of the
Committee giving his long experienced opinion on fiscal matters and corporate
structures. He is 51 years old. He is an Accountant from Tabajara University,
São Paulo, Brazil, and has an MBA in Audit Controlling. He worked from 1978 to
2002 in the audit cabinet of Arthur Andersen where he became an associate in
1998. From 2002 to 2007 he was an associate in Deloitte Touch Tohmatsu. In 2007
he established as an independent consultant creating MCE - Montanini Consultoria
Empresarial Ltda., specialized in fiscal and corporate structure areas. He is
also an associate in DiCasa Artigos e Design, a commercial company devoted to
house and offices equipments, and in PC Services Informática Ltda, a TI service
company.
Marcos Gouvêa de Souza is Associate Manager of GS&D, a Brazilian consulting
company specialized in retail markets and consumers` means and habits. For 18
years, he was an officer of several companies including Lojas Arapuâ, Sears and
Dillard`s. For eight years he has been a professor in the ESPM (Superior School
of Publicity and Marketing) and in the Fundação Getulio Vargas São Paulo, School
of Business Administration. Marcos Gouvêa is the author of several books,
studies and publications on retail markets, franchise administration and brands,
economic and marketing scenarios having awarded several prizes and distinctions
as the "Jabuti Award" in 1994 and the Caboré Marketing Prize in 1988. Mr. de
Souza has a degree from the São Paulo Business School (Getulio Vargas
University) and from the ESPM and an MBA in business administration from FGV
University. He was also a member of the board in different Braziian
associations, among others, the Brazilian Franchise Association, the Retail
development Institute of São Paulo and the Ebeltoft Group.
Alexandre F. Nunes is a Partner and Co-Founder of DealMaker, a consulting
company. He is formerly an Executive VP of Bematech S/A (Interim Management), an
Executive VP of Dominio Ltda, an internet-based company, and a New Business
Director at Brasil Telecom. Mr. Nunes worked for nine years in various positions
at Shell Brasil, including New Business National Manager, and was Professor of
Business Development Management of BBS (Brazilian Business School). Mr. Nunes
holds a degree in Electrical Engineering from Universidade Federal de
Uberlândia, a Masters in Electronic Engineering and Telecommunications from ITA
and an MBA from Ibmec Business School.
Marcos Rocha is the Financial, Investor Relations and Information Technology
Officer of the Group GLOBEX UTILIDADES (Ponto Frio), the second major retail
Braziian company specialized in household electric and electronic appliances. He
is also a member of the Board of the Investcred Unibanco S.A., an investment
institution, an of several other retail companies. In the past Mr. Rocha
occupied several financial positions as officer in Shell Brasil, Cyanamid
Química do Brasil, Brazil Fast Food Corp, Sony Music Entertainment, Global
Telecom, Horizon Telecom International and Sendas (one of the major Brazilian
supermarkets). Mr. Rocha has a degree of electronic engineer from the IME
(Militar School of Engineers) an MBA in business administration and an MBA in
Business Management from the SDE/IBEMEC. Marcos Rocha is a member of the NGO
"Operação Sorriso do Brasil", a member of the IBEF (Brazilian Institute of
Financial Officers), and a member of the American Chamber of Commerce of Rio de
Janeiro.
ABOUT BRAZIL FAST FOOD CORP.
Brazil Fast Food Corp. owns and operates, both directly or through franchisees,
the second largest restaurant chain in Brazil. The Bob`s trade name is used by
Venbo Comércio de Alimentos Ltda., a subsidiary of Brazil Fast Food holding
company, BFFC do Brasil Participações Ltda (formerly 22N Participações Ltda.).
The "KFC" trade name is used by CFK Comércio de Alimentos Ltda. (formerly
Clematis Indústria e Comércio de alimentos e Participações Ltda.), also a
holding company subsidiary. The "Pizza Hut" trade name is used by Internacional
Restaurantes do Brasil ("IRB"), also a 60% subsidiary of Brazil Fast Food
holding company, BFFC do Brasil Participações Ltda. As of Jun. 30, 2009, the
Company had 678 points of sale, which includes traditional restaurants, kiosks
and re-locatable trailers. For additional information please visit
http://www.bffc.com.br.
Safe Harbor Statement
This press release contains forward-looking statements within the meanings of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities and Exchange Act of 1934, as amended, and within the meaning of the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995.Such statements involve known or unknown risks, uncertainties and other
factors that may cause the actual results to differ materially from those
expressed or implied by such forward-looking statements.For a discussion of such
risks and uncertainties, which could cause actual results to differ from those
contained in the forward-looking statements, see the disclosures in the
Company's filings with the Securities and Exchange Commission, including the
risk factors contained in the Company's Annual Report on Form 10-K for the year
ended December 31, 2008, filed with the Securities and Exchange Commission on
March 31, 2009.
Brazil Fast Food Corp.
Ricardo Figueiredo Bomeny, CEO, +1-55-21-2536-7501 (Brazil)
ir@bffc.com.br
www.bffc.com.br
or
CCG Investor Relations Inc.
Mr. Ed Job, CFA, +1-646-213-1914 (New York)
ed.job@ccgir.com
www.ccgir.com
Copyright Business Wire 2009
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