Industry News | August 5, 2008

Caribou Coffee Appoints New President and CEO

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Caribou Coffee Company Inc. announced that Michael Tattersfield has been named president and CEO. Tattersfield succeeds Rosalyn “Roz” Mallet who was appointed interim CEO in November 2007.

Tattersfield’s career spans approximately 20 years of finance, operations, and general management experience, both domestically and internationally, in the restaurant and specialty retail industries. His 13-year career with YUM! Brands included extensive branding and franchise leadership experience, including positions of CEO and managing director of Puerto Rico for Kentucky Fried Chicken, Taco Bell, and Pizza Hut, chief financial officer of YUM! Brands’ Mexico business and president of A&W All American Food Restaurants. His retail positions have included vice president store operations at Limited Brands and most recently in his last role, Tattersfield served as chief operating officer and executive vice president of lululemon athletica, a yoga-inspired athletic apparel company. For almost two years, he was instrumental in leading lululemon through a period of impressive growth during which the company attained more than 130 percent revenue growth, began building its operational strategy, added a multi-year development pipeline and created a real estate strategy resulting in impressive returns on investment and sales per square foot. In 2007, the company underwent a successful initial public offering. Tattersfield holds a B.S. in accounting from Indiana University and an MBA from Harvard Business School.

“Michael Tattersfield’s industry experience in shaping and executing brand strategies will be an added benefit to Caribou Coffee in addition to his financial and operational expertise,” says Gary Graves, chairman of the Caribou Coffee Board of Directors. “Caribou Coffee is focused on strategic growth, domestically and internationally, and Mike will guide Caribou Coffee through continued growth and expansion opportunities.”

A former Caribou Board member, president and chief operating officer, Roz Mallet was appointed interim CEO in November 2007. The Company has performed well during her tenure, and she is credited with establishing store standards and improving brand performance. She will help facilitate the transition of leadership. “The Board is deeply appreciative of Roz’s leadership at Caribou, especially in her nine months as interim CEO,” Graves states. “Roz implemented numerous key strategic initiatives and recent earnings have been well received by investors.”

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.