Viewpoint
The Importance of People Decisions
Are the Wrong Individuals Making it into Executive Suites?Ever since I switched from the operating side of our fine industry to the executive recruiting arena, I have been baffled by the propensity to hire less than "A players" to fill positions in C-level suites. Once a person has reached an executive level in his or her career progression, past successful tenures are amongst the clearest predictors of future success. Entry requirements into the executive suite ought not include existing "C-club" membership but rather be a privilege of proven leadership.
Women's Corner
FIT and POWERFUL Executive Women - Is your team FIT to Work? Corporate America's Dirty Little Secret
The restaurant industry is astutely on a consistent search for ways to become more efficient and improve profit margins. With increasing costs in all arenas, this objective presents greater challenges to all of corporate America as each year passes. And even the best-of-the-best, those most proficient in the restaurant world, recognize you can never be too profitable or too fiscally fit. In an effort to create a competitive team of professionals, often overlooked is the very foundation upon which we build our value in the marketplace, Human Capital!
FYI Candidates
Get By With A Little Help From Your Friends:
3 Great Reasons To Work With A Recuiter
Not so long ago, recruiters were known as “headhunters”, a not-so-kind term that was admittedly earned by an unscrupulous generation of short-sighted individuals. Today's professional recruiters provide a valuable service between two busy sides of an always-fluctuating equation.
The Big News
IHOP to buy Applebee's for $2.1B
GLENDALE , Calif. (Jul. 16) Pancake specialist IHOP Corp. has agreed to acquire casual-dining behemoth Applebee's International Inc. for $2.1 billion in cash, or $25.50 per share, the parties disclosed Monday morning.
Executive Movements
HEATHROW, Fla.--(BUSINESS WIRE)--July 17, 2007— Ruth's Chris Steak House, Inc. (Nasdaq: RUTH) announces the appointment of restaurant industry veteran Damon Liever as Senior Vice President of Marketing. Mr. Liever will lead all marketing functions for the Company's domestic and international expansion. Specifically, he will be responsible for conceptualizing and implementing market strategy, achieving marketing and sales targets, business and market development, market research and planning and leading strategic direction for promotion and advertising.
Dallas, Texas July 18, 2007— Philip Costner has been named chief operation officer (COO) of la Madeleine Bakery, Café & Bistro. As COO, Costner will be responsible for the Operations, Culinary and Quality Assurance, Purchasing, Human Resources and Learning functions at la Madeleine. Costner previously held the position of vice president of food and beverage with Carlson Restaurants Worldwide.
Financial Overview
THE CHEESECAKE FACTORY INC. reported a 15.7-percent rise in second-quarter revenue
CALABASAS HILLS, Calif. — THE CHEESECAKE FACTORY INC. reported a 15.7—percent rise in second-quarter revenue to $373.2 million, versus year-earlier results, though same-store sales for its namesake chain increased only 0.8 percent for the quarter, which ended July 3. Same-store sales at the company's GRAND LUX CAFE chain rose 5.7 percent, boosting blended same-store sales result to 1.1 percent.
A Minority Equity Stake in Privately Held NOODLES & COMPANY
BROOMFIELD, Colo. - New York-based hedge fund OCHZIFF CAPITAL MANAGEMENT GROUP has purchased a minority equity stake in privately held NOODLES & COMPANY for an undisclosed amount, Noodles officials said Tuesday. Noodles, which is based here and operates 123 fastcasual restaurants and is franchisor of another 28 in 14 states, said that it had completed a recapitalization of its business through a stock tender offer by Och-Ziff that began in late May. Och-Ziff's investment will help the chain in its goal to expand to more than 500 restaurants in the next five to seven years, KEVIN REDDY, Noodles' chief executive and president, said in a statement. Noodles has opened 14 restaurants this year and expects to add more than 35 additional units by December, Reddy said. Och-Ziff was founded in 1994 by DANIEL OCH, a former Goldman Sachs trader, and members of the Ziff publishing family. The firm, which has offices in New York, London and Hong Kong, currently manages assets in excess of $26.8 billion. Founded in 1995, Noodles & Company features Asian-, Mediterranean- and American-influenced noodle dishes cooked to order.
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This Month's Hot Opportunities
- Chief Executive Officer, Dallas, TX
- The CEO has overall responsibility for setting the strategic direction and executive management of the brand including all corporate owned and franchised units.
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- CEO, San Jose, CA
- The CEO will be responsible for the execution and profitability of all operations for this high end multi-unit fast casual concept. An integral part of senior leadership, the CEO will help grow the concept, help develop a franchising program and grow the brand regionally.
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- Director of Human Resources, Los Angeles, CA
- Our client and has over 500 company-owned and franchised stores domestically and internationally and a reputation for quality, innovation, loyal customers, and progressive HR practices. They are growing about 20% yearly and are currently expanding HR department to meet needs.
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- Director of Construction , Corporate— West Coast
- The Director, Construction reports to the Vice President, Construction & Design and is responsible for driving the new restaurant development plan for Franchisees and Company Owned locations, as well as managing remodels on Company controlled locations.
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- Director of Marketing , Philadelphia, PA
- As a regional leader working closely with the regional staff, you will work with field operating teams to prescribe, train and implement marketing programs within your assigned region.
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- Development Manager , Baltimore, MD
- Enable brand growth by coaching and counseling franchisees around Company's Development Systems and Brand Image in execution of the Strategic Market Plan.
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- Director of Facilities Management , Corporate— Florida
- The Director of Facilities Management reports to the Sr. Director of Construction and is responsible for development from scratch a facilities mgmt program to cover all 80+ company locations throughout the US.
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