Industry News | May 7, 2008

Dairy Queen Appoints New President & CEO

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Charles W. Mooty, president and CEO, announced today the beginning of his leadership transition and implementation of his succession planning for International Dairy Queen, Inc. (IDQ) by naming John P. Gainor, as president and CEO effective July 1, 2008. Mooty will retain his role as Chairman of the Board through the end of the year.

Gainor, 51, joined the company in 2003 and served as chief supply chain officer leading all supply chain functions for the company including purchasing, logistics, distribution, dairy, frozen novelties, equipment, and supplies.

Prior to joining IDQ, Gainor held various executive positions in the food-service industry and has extensive experience with franchisors in the quick service restaurant business both domestically and internationally. Under Gainor’s leadership, the Dairy Queen system has consistently achieved margin reduction commitments by the franchisor for the cost of goods purchased by franchisees.

“Becoming President and CEO of IDQ is a great honor and privilege,” says Gainor. “I am excited to build upon Chuck’s vision of developing pride and unity within the Dairy Queen system. We have a highly respected group of employees across the globe who are truly committed to servicing and elevating our franchisee community. I look forward to the challenges and opportunities which we will face in this highly dynamic industry.”

Mooty, 47, has served as President and CEO of IDQ since January 2001 and has been with the company for 21 years. Under his leadership, the Dairy Queen system has realized seven consecutive years of same store sales growth and franchisee profitability increases. In addition, with Mooty’s guidance, great strides have been made in updating the company’s food-centric and treat-centric concepts (including DQ Grill & Chill and DQ®/Orange Julius) and establishing the direction for development and reinvestment activities within the system.

“We have an incredibly talented management team here at IDQ which has positioned us well for this leadership transition,” Mooty says. “I know that John will create great impact to our franchise system given his track record and masterful job of rebuilding our supply chain. He is a strong, effective leader who brings a wonderful breadth of knowledge within the quick-service restaurant industry and has proven his ability to develop effective franchisee relationships.”