Famous Brands Appoints Neal Courtney Interim Chief Executive Officer

BROOMFIELD, Colo., Feb. 5, 2013 /PRNewswire/ -- Famous Brands International, the parent company of TCBY Yogurt and Mrs. Fields Cookies, today announced that it has appointed Neal Courtney, the company's current Chief Operating Officer, to the position of Interim Chief Executive Officer.  The appointment of Mr. Courtney as Interim Chief Executive Officer follows Tim Casey's decision to resign as Chief Executive Officer, effective Tuesday, February 5, 2013, to pursue the next chapter in his career.  Mr. Casey will continue to provide support during a transitional period to help ensure the Company's current initiatives and momentum will continue at a strong pace.

"Neal has been an integral part of Famous Brands' growth and success for more than eight years, and we are confident that he is the right person to lead the company through this transition," said Bruce Pettet, Chairman at Famous Brands International.  "Famous Brands has tremendous opportunities across all of its channels, and we look forward to building on our momentum to continue expanding our brands around the world.  The company has initiated a search process for a permanent CEO and anticipates continued momentum during this timeframe with Neal and his depth of experience at the helm."

During his tenure over the past three years, Mr. Casey has led the company through a successful debt restructuring; the launch of the TCBY self-serve platform; the relocation and staffing of the corporate headquarters from Salt Lake City, UT to Broomfield, Colorado; and a strong 2012 year-end that resulted in the first positive franchise store growth expansion in over 12 years.  "It has been an honor to serve as the CEO of Famous Brands for the last three years.  Given the company's strong foundation and recent momentum, I am confident that now is the right time to turn the reins of the company over to new leadership better suited for the next phase of growth and the challenges of execution that lie ahead," said Mr. Casey.   

Bruce Pettet, Chairman continued, "On behalf of the entire Famous Brands team, I want to thank Tim for his hard work and the significant contributions he made to the company during his time as CEO.  We are pleased that he will continue to provide support during this transition and wish him all the best in his future endeavors."

About Neal Courtney
Neal Courtney has been the Chief Operating Officer for Famous Brands International since May 2012.  He brings more than 15 years of leadership experience in Retail, Consumer Packaged Goods, E-commerce, and Franchising. 

Neal has been with Famous Brands for 8 years and has held roles in finance, sales, and general management. Prior to joining Mrs. Fields, Neal held various senior positions in finance and strategy at Frito-Lay and Kmart Corporation. Neal also has experience as a Multi-Unit Franchisee and Master Franchisee for a national US franchise entity.

Neal was a 2-time NCAA Academic All-American golfer at Slippery Rock University in Pennsylvania. He has a MBA in Finance from the Marriott School of Management at BYU and has studied abroad at the University of Limerick, Ireland.

About Famous Brands

Mrs. Fields Cookies:
Based in Broomfield, CO, Mrs. Fields Famous Brands, LLC dba Famous Brands International is the parent company to Mrs. Fields. Debbi Fields opened her first store in Palo Alto, California in 1977 and the Mrs. Fields name quickly became associated with warm, freshly baked cookies right out of the oven. Today, Mrs. Fields products are available at over 300 retail locations in the United States, nearly 100 locations internationally and online through http://www.mrsfields.com or by calling 1.800.COOKIES.

For more information on Mrs. Fields please visit http://www.mrsfields.com.

About TCBY
Based in Broomfield, CO, TCBY, The Country's Best Yogurt, has been a frozen yogurt innovator from the day its first shop opened in Little Rock, Arkansas in 1981. With more than 650 locations in the United States and internationally, TCBY has long been a healthier alternative for consumers looking for a treat or snack. To learn more check out www.TCBY.com.

Contacts

Joele Frank, Wilkinson Brimmer Katcher
Jonathan Keehner, Taylor Ingraham: 212-355-4449

Michael Brennan
Mackinac Partners: 248-258-6900

SOURCE Famous Brands International



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