Industry News | October 31, 2011
Arby's Names Dunkin' CEO Luther Chairman
Hala Moddelmog, president of Arby’s Restaurant Group Inc., introduced members of the new ARG Holding Corporation Board of Directors to the Arby’s franchise community during its National Franchise Conference in Atlanta. The new board consists of five members and will be led by chairman Jon Luther.
“Jon’s experience as a former owner, franchisor, and operator will help strengthen the Arby’s brand as we continue to build on the sales and transaction improvement that we’ve seen in 2011,” Moddelmog says.
Luther, a veteran of the restaurant industry, has served as the nonexecutive chairman of the board of Dunkin' Brands since July 2010. He is widely credited for leading the transformation of Dunkin Brands while CEO from January 2003 to January 2009. The additional title of chairman was added in 2006. Luther served as executive chairman until July 2010.
“The Arby’s brand is filled with potential and opportunity,” Luther says.
Joining Luther on the board is Sidney (Sid) J. Feltenstein, former CEO of Yorkshire Global Restaurants. Feltenstein has had a successful career as a corporate executive and entrepreneur. In 1995, he led a private equity investment group that acquired A&W Restaurants. Under his leadership, the chain grew from 450 to almost 1,000 units in just five years. In 1999, Feltenstein led A&W's purchase of Long John Silver's. Under his leadership, A&W/Long John Silver's sales grew five times and its operating profits grew by 40 times. The company was sold to YUM! Brands in 2002 in a highly successful transaction.
The ARG Holding Corporation Board of Directors consists of:
· Neal Aronson, Founder and Managing Partner, Roark Capital Group
· Sid Feltenstein, Former CEO, Yorkshire Global Restaurants
· Jon Luther, Non-Executive Chairman of the Board of Directors, Dunkin’ Brands
· Erik Morris, Managing Director, Roark Capital Group
· Steve Romaniello, Managing Director, Roark Capital Group
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