Industry News | July 20, 2013
Buffets Recruits Ex-McDonald’s Exec as CFO
Buffets, Inc. announced the recent appointment of finance professional Keith Kravcik as chief financial officer and the creation of a new position of director, office of the CEO and corporate administration, promoting long-time Buffets administrator Jackie Fiebelkorn.
Kravcik will be responsible for all finance, accounting, purchasing, and IT functions, as well as continuing to strengthen the back-office services organization for one of the country’s largest steak-buffet restaurant companies.
Fiebelkorn will lead the office for the CEO and oversee administrators throughout the organization. Both executives will be based in the co-headquarters office located in Eagan, Minnesota, and will report directly to CEO Anthony Wedo.
“Positioning these key roles in Minnesota, coupled with the planned Main Street rollout, reaffirms the company’s commitment to the greater Minneapolis market,” Wedo says. “As we move to the next phase of our turnaround and continued reinvention of our brands, having a pro like Keith with significant hands-on experience in large organizations will be critical to our success.”
Kravcik most recently served as group vice president and corporate controller for Supervalu, one of the largest grocery companies in the U.S., with $37 billion in revenue and 4,300 stores. In this capacity, Kravcik was responsible for providing strategic leadership and tactical guidance for all finance and accounting functions.
Previously, Kravcik spent 16 years at McDonald’s, where he progressed to the roles of chief financial officer, Latin America, and ultimately corporate vice president and controller, McDonald’s U.S.A.
Kravcik began his career at Ernst & Young, where he spent 11 years working his way up within the audit practice. He studied at DePaul University, where he has a cachelor of science in accounting.
In addition to the appointment of Kravcik, Buffets also announced the promotion of longstanding administrator Jackie Fiebelkorn to the newly created position of director, office of the CEO and corporate administration.
In her new role, Fiebelkorn will continue to lead both headquarters’ administration and the office services and travel teams, while taking on the responsibility for leading the office of the CEO.
Her new responsibilities will also include supervising the assistant to the office of the CEO and assisting in the supervision of all coordinators throughout the organization.
Fiebelkorn started with Buffets in 1993. Through her 20-year tenure, she learned about the organization from the ground up with her first position as front door receptionist. She was later promoted to the finance group and then office of the CEO.
“Jackie is a shining example of all of our core values, as she consistently puts the needs of the company ahead of her own, and has grown tremendously since she started with the organization,” Wedo says. “She truly is a success story in our organization and a great example for all of us.”
Wedo says the appointment of Kravcik and Fiebelkorn to the Minnesota headquarters office speaks volumes to Buffets' ongoing commitment to the market and further demonstrates Buffets' commitment to maintaining a headquarters office in Minnesota.
The steak-buffet chain also plans on investing in the Twin Cities by remodeling local restaurants. Buffets has chosen the Twin Cities to be among the first markets to be part of its new Main Street initiative, pairing a complete food and operations revamp with new and contemporary decor. The Main Street effort will take place in the Twin Cities and Denver over the next six months.
“It’s an exciting time to be a part of an organization like Buffets as it undergoes a reinvention to better serve families,” Kravcik says. “I am honored to join their team of talented industry professionals and support the mission to elevate the brand and increase value for all stakeholders.”
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