Caribou Coffee Announces Management Changes.* Chairman of the Board and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Resigns * Roz Mallet mallet, n a hammering instrument. mallet, hard, n a small hammer with a leather-, rubber-, fiber-, or metal-faced head; used to supply force or to supplement hand force for the compaction of foil or amalgam and to seat cast Named interim CEO * Conference Call to be Held November 13, 2007 at 8:00 a.m. ET MINNEAPOLIS -- Caribou Coffee Caribou Coffee is a specialty coffee retailer, the second largest in the U.S.[2] Caribou concentrates on selling gourmet coffees, teas, and bakery goods in over 464 coffeehouses in 18 states. Company, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CBOU), the second largest U.S.-based company-owned gourmet coffeehouse operator based on the number of coffeehouses, today announced that Michael J. Coles, the Chairman and Chief Executive Officer, has stepped down. Mr. Coles will continue to serve the company as a member of the Board of Directors. The company is also pleased to announce that Gary A. Graves, an independent member of Caribou Caribou, town, United States Caribou (kâr`ĭb  ), town (1990 pop. 9,415), Aroostook co., NE Maine, on the Aroostook River; inc. 1859. Coffee's Board of Directors, has been
named by the Caribou Board of Directors to the position of non-executive
Chairman of the Board. Mr. Graves is currently the Chief Executive
Officer of American Laser Centers, previously served as President and
Chief Executive Officer for La Petite Academy, the nations second
largest for-profit preschool company, and held executive roles with
InterParking, Inc., 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 , Inc. and various positions in
operations with PepsiCo.
The Board has also named Rosalyn "Roz" T. Mallet interim Chief Executive Officer, effective immediately. Ms. Mallet joined the company earlier this year as the President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. (COO) and is a former member of the Caribou Coffee Board of Directors. Ms. Mallet has over 30 years of experience in the food and hospitality industries. Before joining Caribou Coffee, she was Chief Operating Officer of the La Madeleine There are several communes and geographical features in France that bear the name La Madeleine: River
TGI Target Group Index TGI Thank God It's Friday (US restaurant chain) TGI Tracheal Gas Insufflation TGI Tumor Growth Inhibition TGI Trato Gastrointestinal (Portugese) Fridays and Applebee's. Ms. Mallet is also a National Restaurant Association Board Member. Michael J. Coles commented, "The past five years have been a very exciting time for me at Caribou. It is now time to step aside and let a new CEO take the company thru its next phase of growth." Mr. Coles added, "As a member of the Board, I look forward to working with both the new Chairman and CEO." Roz Mallet, commented, "I am honored that the Board has asked me to step in to lead the company during this very important time. I have been involved with Caribou Coffee for almost two years, first as a Board member and most recently as President and COO. We were fortunate to have Michael lead the company over the past five years and we appreciate all that Michael has done on behalf of the company." Added, Ms. Mallet, "I look forward to expanding my role at Caribou Coffee as we move into the next phase of growth." Conference Call Info The Company will hold a conference call tomorrow, November 13, 2007 at 8:00 a.m. ET. Hosting the call will be Roz Mallet, interim CEO. The dial in number is 888-595-4228 and 480-629-9564 (international). Passcode 3806674. The call will be webcast and can be accessed from the Company's website at www.cariboucoffee.com in the Investor Relations Investor relations The process by which the corporation communicates with its investors. section. For those who cannot listen live a telephonic replay will be available for one week beginning at 11:00 a.m ET on November 13, 2007. The dial in number is 800-406-7325 or 303-590-3030 (international callers). The passcode is 3806674. ABOUT THE COMPANY Caribou Coffee Company, Inc., founded in 1992 and headquartered in Minneapolis, Minnesota “Minneapolis” redirects here. For other uses, see Minneapolis (disambiguation). Minneapolis (pronounced IPA: /ˌmɪniˈæpəlɪs/) is the largest city in the U.S. , is the second largest company-owned gourmet coffeehouse operator in the United States based on the number of coffeehouses. As of September 30, 2007, Caribou Coffee had 473 coffeehouses, including 41 franchised locations. Caribou Coffee offers its customers high-quality gourmet coffee and espresso-based beverages, as well as specialty teas, baked goods, whole bean coffee, branded merchandise and related products. In addition, Caribou Coffee sells products to clubstores, grocery stores, mass merchandisers, office coffee providers, airlines, hotels, sports and entertainment venues, college campuses and other commercial customers. Caribou Coffee also licenses third parties to use the Caribou Coffee brand on quality food and merchandise items. Caribou Coffee focuses on creating a unique experience for customers through a combination of high-quality products, a comfortable and welcoming coffeehouse environment and a unique style of customer service. For more information, visit the Caribou Coffee web site at www.cariboucoffee.com . |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion