Boston Chicken Inc. names Nadhir co-chairman, Stephens a vice chairman.GOLDEN, Colo.--(BUSINESS WIRE)--Dec. 19, 1995--Boston Chicken Inc. (Nasdaq-NMS:BOST BOST Boston National Historic Park (US National Park Service) BOST Built Off-Chip Self Test ) announced Tuesday that Saad J. Nadhir, vice chairman and president, has been named co-chairman of the company's board of directors. In addition, Mark W. Stephens, chief financial officer, has been elected to the board and named a vice chairman. The company said Scott Beck will continue as Boston Chicken Inc.'s chief executive officer and also serve as co-chairman. Jeffrey J. Shearer shearer person whose occupation is shearing sheep. will continue as a vice chairman of the board. Stephens' appointment expands the board from eight to nine members. "The appointment of Saad Nadhir as co-chairman recognizes the role he has played since he discovered the Boston Chicken concept in 1991. Saad has made and continues to make incredibly valuable contributions. He is a great partner," said Beck. "Mark's appointment recognizes not only his critical contribution but also his superb leadership and the strategic role he plays." Nadhir, 41, joined Boston Chicken as vice chairman of the board and a director in December 1991. He became president of the company in 1995. Previously, he served as senior vice president, International Development and vice president, International Development, for Blockbuster Entertainment and as general counsel and director of development for Blockbuster Midwest. Nadhir will also continue as president of Boston Chicken Inc. Stephens, 40, joined the company as chief financial officer in October 1993. Previously, he was managing director of Haas, Wheat and Partners Inc., a private investment firm. He has also served as senior vice president of Grauer & Wheat Investments, as a senior vice president of Donaldson, Lufkin & Jenrette Securities Corp., and as a vice president of Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. Private Capital. Stephens will also continue as chief financial officer of Boston Chicken Inc. Boston Chicken Inc. operates and franchises Boston Market Boston Market (known before 1995 as Boston Chicken), headquartered in Golden, Colorado, is a chain of American fast-food restaurants. Founded in December 1985 in Newton, Massachusetts, the chain grew rapidly in the early and mid-1990s, filed bankruptcy in the late 1990s, and (TM) food service stores that specialize in fresh, convenient meals featuring homestyle entrees, fresh vegetables, salads and other side dishes side dish n. A dish served as an accompaniment to the main course. Noun 1. side dish - a dish that is served with, but is subordinate to, a main course entremets, side order , including mashed potatoes n. pl. 1. Potatoes which have been boiled and mashed to a pulpy consistency, usu. with sparing addition of milk, salt, butter, or other flavoring. It is a popular accompaniment to a meat course [U.S., 1900's], providing bulk and calories to a meal. made from scratch. There are currently 819 Boston Market stores in 37 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . Additionally, Boston Chicken Inc. has made a convertible loan to Einstein Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . Bagels, formerly Progressive Bagel Concepts Inc., which currently owns and operates bagel stores in seven states. Boston Chicken anticipates the loan will be fully drawn during the first half of 1996, at which time Boston Chicken can convert the loan into a majority interest in PBCI. CONTACT: Boston Chicken Inc., Golden Media: Karen Rugen, 303/384-5076 Analysts: Melissa Marsden, 303/384-5652 |
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