Famous Brands Appoints Michael Chao Chief Financial Officer

BROOMFIELD, Colo., Aug. 5, 2013 /PRNewswire/ -- Famous Brands International, the parent company of TCBY Yogurt and Mrs. Fields Cookies, today announced that it has appointed Michael Chao to the position of Chief Financial Officer, effective immediately.  Michael has been serving as Vice President of Finance, Treasury, and Investor Relations at Vail Resorts, Inc.

"We are pleased to add Michael to the Famous Brands executive management team," said Neal Courtney, Chief Executive Officer.  "From his time at Vail Resorts, where he led the finance, treasury and investor relations activities of the company, Michael has demonstrated both his management strength and financial acumen.  We are confident that, given his experience in strategic and financial planning, financial analysis, accounting, treasury and investor relations, he is the right choice to lead our finance and accounting team into and through this exciting stage of growth for our brands." 

During his seven year tenure at Vail Resorts, Mr. Chao has helped the company manage through significant growth, substantial capital investments, expansion into new businesses and several key acquisitions.  "I am thrilled to be joining Neal and the rest of the strong Famous Brands team at such an exciting time in the Company's history," said Mr. Chao.  "Famous Brands has experienced significant success in the past several years, and I am looking forward to leveraging my experience and expertise to help contribute to the continued expansion of TCBY and Mrs. Fields around the world." 

The Company also announced today that it has reappointed David Barr to the Famous Brands Board of Directors.  Mr. Barr currently serves as Chairman on the Boards of Directors of Rita Restaurants LLC, owner and operator of Don Pablo's Mexican Restaurants, and The Jewellery Group, owner and operator of retail jewelry stores in Australia, and sits on the Boards of Directors of Del Frisco Restaurant Group, the Bistro Group and Charles & Colvard. 

"We are pleased to have David rejoin the Famous Brands Board," said James J. Zenni, Chairman of Famous Brands International.  "David has a strong track record of managing high-powered teams to success across a multitude of industries, with specific expertise in franchising and food services.  Given this experience and his familiarity with the Famous Brands business, we are certain he will quickly add valuable insight to our strong board as we continue to oversee the significant expansion of the iconic Mrs. Fields and TCBY brands." 

About Michael Chao
Mr. Chao has 17 years of accounting and finance experience with companies across a broad range of industries.  Prior to joining Famous Brands International, Mr. Chao was Vice President of Finance, Treasury and Investor Relations at Vail Resorts, Inc.  During his seven years at Vail Resorts, he led the financial planning and analysis, treasury, and investor relations operations of the company.  He began his career with KPMG (1996-1999) and then joined InterTrust Technologies (1999-2001) where he was instrumental in the company's initial public offering and secondary offering.  From 2001 to 2006, Mr. Chao held numerous accounting and finance roles with eBay Inc.  Mr. Chao holds a bachelors degree in economics from the University of California, Los Angeles. 

About David Barr
Mr. Barr is Chairman of PMTD Restaurants and its affiliates, an owner and operator of 23 KFC and Taco Bell restaurants managed on a day-to-day basis by a professional management team .  Barr was previously the Chairman of Samuels Jewelers, Inc. from 2000 to 2006, at which time he led the sale of the company to Gitanjali Gems. He began his career in Atlanta with Price Waterhouse (1986-1991) and then joined Pizza Hut, Inc. within its finance department (1991-1994). From 1994 to 1998, Barr was the CFO and then the CEO of the Great American Cookie Company, a franchisor and operator of 367 mall-based cookie stores. In 1998, Barr, on behalf of the shareholders, sold Great American Cookies to Mrs. Fields. Barr resides in the metropolitan Atlanta area with his wife, Cynthia, and their two boys (19 and 17). He sits on the Board of the International Franchise Association and the Advisory Board of University of Virginia McIntire School of Commerce, where he is also a guest lecturer.  He is an active member of the Atlanta community and gives back through participating in various volunteer and board positions with non-profit and youth sports organizations.

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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