Roland C. Smith Appointed President and Chief Executive Officer of Arby's Restaurant Group, Inc.
17 Abril 2006 - 1:00PM
Business Wire
Triarc Companies, Inc. (NYSE: TRY, TRY.B) announced today the
appointment of Roland C. Smith as President and Chief Executive
Officer of Arby's Restaurant Group, Inc. ("ARG"), effective
immediately. Smith will replace Douglas N. Benham, who will serve
as a consultant during a transition period. ARG, through its
subsidiaries, is the franchisor of the Arby's(R) restaurant system
and the owner and operator of approximately 1,000 Arby's
restaurants. There are approximately 3,500 Arby's restaurants
worldwide. Smith, 51, is an experienced senior executive having
served as President and Chief Executive Officer of three companies,
including ARG's predecessor, Arby's, Inc., from February 1997 to
April 1999. More recently, Smith was President and Chief Executive
Officer of American Golf Corporation and National Golf Properties
from February 2003 to November 2005. Prior thereto, from April 1999
to January 2003, he served as President and Chief Executive Officer
of AMF Bowling Worldwide, Inc. Smith has also held management
positions at KFC International, Schering-Plough, Pepsi Cola
International and Procter & Gamble. Smith successfully led the
operational turnarounds and financial restructurings at both
American Golf and AMF. At Arby's, Inc., Smith was responsible for
leading both a restructuring and marketing rejuvenation of the
Arby's brand. Smith is a graduate of the U.S. Military Academy at
West Point, New York, where he earned a BS degree in engineering.
He served in the U.S. Army for seven years in the Transportation
and Aviation Corps as platoon leader, executive officer, deputy
director of Army programs, aide-de-camp, maintenance officer and
pilot. Commenting on Smith's appointment, Nelson Peltz, Triarc's
Chairman and Chief Executive Officer, said: "We are very pleased to
welcome back Roland to Arby's at a critical juncture in its 40-year
history. As we finalize the integration of RTM, begin to implement
multiple growth initiatives, collaborate with our franchisees to
refine operational practices and work toward effecting the Triarc
corporate restructuring, we believe that both ARG and the Arby's
franchise system will be very well served by Roland's exceptional
leadership skills." Commenting on Benham's contributions, Peter W.
May, Triarc's President and Chief Operating Officer, said: "Doug
has been an important force in the Arby's system for a long time.
He played a critical role in joining ARG and RTM, which we believe
presented a unique opportunity to bring together the ownership and
management of our leading national quick service restaurant brand
with the operational excellence of its largest franchisee. We thank
Doug very much for his many contributions to ARG. We wish Doug and
his family the best." Triarc is a holding company and, through its
subsidiaries, the franchisor of the Arby's(R) restaurant system,
which is comprised of approximately 3,500 restaurants. Of these
restaurants, more than 1,000 are owned and operated by subsidiaries
of Triarc. Triarc also owns an approximate 64% capital interest, a
profits interest of at least 52% and approximately 94% of the
voting interests, in Deerfield & Company LLC, a Chicago-based
alternative asset manager offering a diverse range of fixed income
and credit-related strategies to institutional investors with
approximately $12.3 billion under management as of January 1, 2006.
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