RAVE Restaurant Group, Inc. Announces Management Changes
July 21, 2016 at 10:56 am EDT
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RAVE Restaurant Group, Inc. announced that Clinton Coleman, a current member of the company's board of directors, has been appointed Interim chief executive officer and the board has retained the executive search firm Heidrick & Struggles to conduct a search for a permanent CEO. Mr. Coleman is succeeding Randy Gier through a mutual agreement between all parties. He is a Managing Director of Newcastle Capital Management. Mr. Coleman has served on the company's board for nine years and has worked closely with the management team to develop the company's growth strategies. He is a managing director of Newcastle Capital Management. Mr. Coleman also previously has served as CEO of Bell Industries, Inc. and interim CEO of Rave.
Rave Restaurant Group, Inc. franchises, licenses and supplies Pie Five and Pizza Inn restaurants operating domestically and internationally. The Company, through its subsidiaries, franchises pizza buffet (Buffet Units), delivery/carry-out (Delco Units) and express (Express Units) restaurants under the trademark Pizza Inn and franchises fast casual pizza restaurants (Pie Five Units) under the trademark Pie Five Pizza Company (Pie Five). It also licenses Pizza Inn Express (PIE), kiosks under the trademark Pizza Inn. Its segments include Pizza Inn Franchising, Pie Five Franchising and Company-Owned Restaurants. The Pizza Inn and Pie Five Franchising segments establish franchisees, licensees and territorial rights. The Company-Owned Restaurants segment includes sales and operating results for all Company-owned restaurants. It facilitates food, equipment, and supply distribution to its domestic and international system of restaurants through agreements with third party distributors.
RAVE RESTAURANT GROUP, INC. 