AFC Enterprises Appoints John M. Cranor and Cheryl A. Bachelder to Board of Directors
ATLANTA, Nov. 28 /PRNewswire-FirstCall/ -- AFC Enterprises, Inc.
(Nasdaq: AFCE), the franchisor and operator of Popeyes(R) Chicken &
Biscuits, today announced the appointment of John M. Cranor and Cheryl A.
Bachelder to its Board of Directors. Mr. Cranor and Ms. Bachelder will also
serve as members of the Board's Corporate Governance and Compensation
Committees.
Mr. Cranor previously served as Chairman, President and Chief Executive
Officer of Long John Silver's Restaurants, Inc., a position he held from
1996- 1999. Prior to that, Mr. Cranor was President and Chief Executive
Officer of KFC Corporation from 1989-1994. Mr. Cranor has more than
30-years of management experience in the food service and retail industries
including senior executive positions with Pepsi-Cola North America, Taco
Bell Corporation, Wilson Sporting Goods, and Frito-Lay Company.
Since 2003, Mr. Cranor has served as the President and Chief Executive
Officer of the New College Foundation, affiliated with New College of
Florida in Sarasota. Mr. Cranor previously served on the Board of Directors
for Quick Chek Stores, Inc., Capital Holding, National City Bank, and
Providian Financial Corporation. Mr. Cranor holds a Bachelor's of Arts
degree from New College of Florida and a Master's of Business
Administration from Harvard University.
Ms. Bachelder served as the President and Chief Concept Officer of KFC
Corporation from 2001-2003. From 1995-2000, Ms. Bachelder was Vice
President, Marketing and Product Development for Domino's Pizza, Inc. She
began her career at Procter & Gamble in brand management and rose to
leadership roles at The Gillette Company and RJR Nabisco Inc.
Ms. Bachelder currently serves as a member of the True Value Company
Board of Directors. She also sits on the Board of Overseers for the Tobias
Center for Leadership Excellence at Indiana University. Ms. Bachelder holds
a Bachelor's of Science and a Master's of Business Administration from the
Kelley School at Indiana University.
"John and Cheryl will be great additions to our Board," said Ken
Keymer, Chief Executive Officer and President. "Both of them bring strong
leadership skills coupled with excellent operational and marketing
experience from the quick-serve restaurant sector and food industry. Their
expertise in our quick service sector will be of great benefit to our
growth. We look forward to their contributions."
Corporate Profile
AFC Enterprises, Inc. is the franchisor and operator of Popeyes(R)
Chicken & Biscuits, the world's second-largest quick-service chicken
concept based on number of units. As of October 1, 2006, Popeyes had 1,845
restaurants in the United States, Puerto Rico, Guam and 24 foreign
countries. AFC has a primary objective to be the world's Franchisor of
Choice(R) by offering investment opportunities in its Popeyes Chicken &
Biscuits brand and providing exceptional franchisee support systems and
services. AFC Enterprises can be found on the World Wide Web at
http://www.afce.com.
Forward-Looking Statement: Certain statements in this release, and
other written or oral statements made by or on behalf of AFC or its brand
are "forward-looking statements" within the meaning of the federal
securities laws. Statements regarding future events and developments and
our future performance, as well as management's current expectations,
beliefs, plans, estimates or projections relating to the future, are
forward-looking statements within the meaning of these laws. These
forward-looking statements are subject to a number of risks and
uncertainties. Among the important factors that could cause actual results
to differ materially from those indicated by such forward-looking
statements are: competition from other restaurant concepts and food
retailers, the loss of franchisees and other business partners, labor
shortages or increased labor costs, increased costs of our principal food
products, changes in consumer preferences and demographic trends, as well
as concerns about health or food quality, instances of avian flu or other
food-borne illnesses, the need to continue to improve our internal
controls, adverse effects on operations from Hurricane Katrina, the
Company's ability to recover related losses from its insurers and the
economic impact on consumer spending in markets affected by Katrina, the
loss of senior management and the inability to attract and retain
additional qualified management personnel, limitations on our business
under our 2005 Credit Facility, failure of our franchisees, a decline in
the number of franchised units, a decline in our ability to franchise new
units, slowed expansion into new markets, unexpected and adverse
fluctuations in quarterly results, increased government regulation, adverse
effects of regulatory actions arising in connection with the restatement of
our previously issued financial statements, effects of increased gasoline
prices, general economic conditions, supply and delivery shortages or
interruptions, currency, economic and political factors that affect our
international operations, inadequate protection of our intellectual
property and liabilities for environmental contamination and the other risk
factors detailed in our 2005 Annual Report on Form 10-K and other documents
we file with the Securities and Exchange Commission. Therefore, you should
not place undue reliance on any forward- looking statements.
AFC Contact Information
Investor inquiries:
Cheryl Fletcher, Director, Finance & Investor Relations
(404) 459-4487 or investor.relations@afce.com
Media inquiries:
Alicia Thompson, Vice President, Popeyes Communications & Public Relations
(404) 459-4572 or popeyescommunications@popeyes.com
SOURCE AFC Enterprises, Inc.
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