Industry News | August 17, 2001

Jack in the Box Inc. Announces New CFO

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Jack in the Box Inc. (NYSE: JBX), operator and franchiser of Jack in the Box®restaurants, today announced that John F. Hoffner will join the company as executive vice president and chief financial officer, effective Monday, Aug. 27.

Hoffner, 54, replaces Charles W. Duddles, 61, who announced in March that he would retire from Jack in the Box this year. Duddles joined the company in 1979 and has held the CFO position since 1985.

"We are thrilled to have someone of John's caliber and experience at Jack in the Box,'' said Chairman and CEO Robert J. Nugent. "The company is at the most successful point in its history, and John's experience in growing retail concepts will help us fulfill our long-term goal of becoming a national chain.''

Hoffner was previously executive vice president of administration and chief financial officer for Cost Plus, Inc., a publicly held specialty retailer of casual home furnishings with 139 stores. He has more than 30 years of corporate finance experience, including senior level positions at Sweet Factory, Inc., Wherehouse Entertainment, Inc., Pic 'N' Save Stores, Dayton Hudson Corp. and Federated Department Stores Inc.

He holds a BS degree in industrial management from the Krannert School of Management at Purdue University and an MBA degree from Xavier University.

Founded in 1951, Jack in the Box Inc. is the nation's first major drive-thru hamburger chain. With fiscal 2000 systemwide sales of nearly $2 billion, the San Diego-based company operates or franchises more than 1,720 quick-service restaurants in 16 states and has more than 43,000 employees.