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KRYSTAL NAMES DAVENPORT PRESIDENT; LONG RETAINS ROLE OF CHAIRMAN AND CEO

KRYSTAL NAMES DAVENPORT PRESIDENT; LONG RETAINS ROLE OF CHAIRMAN AND CEO
 CHATTANOOGA, Tenn., Sept. 10 /PRNewswire/ -- The Krystal Company (NASDAQ-NMS: KRYS) announced today the promotion of R.B. (Rody) Davenport IV to the position of president and chief operating officer, effective Oct. 1.
 Davenport is the third generation of the Davenport family to head the nation's second-oldest hamburger chain. Davenport formerly served as vice president of operations.
 Davenport assumes the presidency of the Chattanooga-based fast-food chain from Carl D. Long, who has served as president since 1981 and chairman and chief executive officer since 1990. Long will remain chairman of the board of directors and CEO.
 The announcement was made following Krystal's board of directors meeting today in Chattanooga.
 "Mr. Davenport's new appointment was made in recognition of his 16 years of excellent service to the company and his outstanding leadership during Krystal's recent initial public offering," said Long. "He brings to Krystal an operational perspective of excellence."
 Davenport has served as Krystal's vice president of operations since 1988. From 1986 to 1988, he was vice president, assistant to the president. In addition, he has served in various other capacities within the company, including district, area and restaurant manager.
 "Carl Long will continue as chairman and chief executive officer until his planned retirement in 1996," said R.B. (Rody) Davenport III, majority stockholder and chairman of the executive committee. "This will guarantee The Krystal Company an orderly transfer of responsibility and continuity of management."
 Long became chairman and CEO of Krystal in 1990 and has been president and a director since 1981. From 1977 to 1981, Long served as vice president of finance. Prior to joining Krystal, he was group vice president and chief financial officer of Ramada Inns, and vice president and chief financial officer of Informatics, Inc.
 Founded in 1932 by R.B. Davenport Jr., Krystal is celebrating its 60th anniversary this year. The 250-unit chain completed an initial public stock offering last May. Krystal's common stock is traded on the NASDAQ National Market System under the symbol KRYS.
 -0- 9/10/92
 /CONTACT: Ellen Hartman or Claudia D'Avanzo of Fleishman-Hillard, 404-659-4446, for The Krystal Company/
 (KRYS) CO: The Krystal Company ST: Tennessee IN: LEI SU: PER


EA-BN -- AT003 -- 7842 09/10/92 08:59 EDT
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Publication:PR Newswire
Date:Sep 10, 1992
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