Industry News | June 2, 2006

Arby's Announces Organizational Changes

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Arby's Restaurant Group, Inc. announced today organizational changes designed to strengthen its management team as Arby's begins to implement multiple growth initiatives, refine operational practices,and work toward effecting the possible Triarc corporate restructuring. Arby's is the franchisor of the Arby's® restaurant system and the owner and operator of approximately 1,000 Arby's restaurants. There are approximately 3,500 Arby's restaurants worldwide.

Roland C. Smith, Arby's CEO, said today that Thomas A. Garrett has been appointed Arby's President and will continue to serve as its Chief Operating Officer. Smith also announced that, effective immediately, Stephen E. Hare would become Arby's CFO, replacing Todd D. Weyhrich who is leaving Arby's to pursue other interests. Both Garrett and Hare will report to Smith.

Garrett, 44, was appointed Arby's COO in July 2005, following Triarc's acquisition of the RTM Restaurant Group (RTM), Arby's then-largest franchisee. Prior thereto, Garrett was President of RTM, where he held positions of increasing responsibility since 1994. Garrett began his business career in 1980 as an assistant manager of an Arby's restaurant in his hometown of Gadsden, Alabama.

Until recently, Hare, 53, served as group president of Cadmus Publisher Services Group, a division of Cadmus Communications Corporation, where he also held the position of executive vice president and CFO from 2001 to 2003. From 1996 to 2001, Hare was executive vice president and CFO of AMF Bowling Worldwide, where he also was a member of the Board of Directors. From 1990 to 1996, Hare was senior vice president and CFO of James River Corporation. Prior thereto, he held positions at Kidder, Peabody & Co. and Ernst & Young. Hare is a graduate of the University of Notre Dame, where he earned a BBA degree in Finance and Accounting. He also has an MBA from the Harvard Business School and is a certified public accountant.