J. Robert McCourt has been elected President of Round Table Pizza, Inc., succeeding Mr. Fletcher, and will continue as the company's Chief Operating Officer.
In making the announcement, Mr. Fletcher explained that his new role will allow him "to focus on addressing issues critical to Round Table's long-term success, including strategic planning and capital management." Mr. McCourt will assume leadership of all functions related to company store and franchise operations. Mr. McCourt joined the company in 1996 as its Chief Financial Officer, and prior to his promotion to President, he was Senior Vice President and Chief Operating Officer. Mr. Fletcher also noted, "The tremendous growth that we have experienced over the last several years has increased both the complexity of our business as well the need to focus more on long term planning. Mr. McCourt's assumption of leadership of the day to day business will allow me to focus on the long-term strategic challenges facing our business."
Historically, Round Table's business focused primarily on franchising. "However, five years ago we decided to increase our level of ownership of restaurants to both strengthen our system and increase returns for our employee owned company," said Mr. Fletcher. Since then, Round Table has increased its number of company owned restaurants from 37 (at the beginning of 2000) to 127 company owned restaurants today, one quarter of the 500 restaurants in the Round Table Pizza system. Company owned restaurants are located in Boise, Idaho, Portland, Oregon, Reno, Nevada, and throughout California. Over 3,000 full and part time employees work in its company operations. In 2005 Round Table Pizza was named one of the 100 fastest growing private companies in the San Francisco Bay Area by the San Francisco Business Times. In discussing Round Table's growth, Round Table's Chief Operating Officer Rob McCourt said, "Our growth has created many opportunities for advancement for our employees. This situation is particularly exciting because it comes on top of the financial benefits that accrue to employees because we are an employee owned company. Our employee owners are directly benefiting from Round Table's success in a number of ways."
"We plan on significantly increasing the number of new units we are building," explained Mr. McCourt. In 2005 Round Table opened 5 new company owned units, 4 in the California's San Joaquin Valley and one in Dayton, Nevada, and it has signed or is about to sign leases for 10 more sites in California and Nevada. Round Table plans to build over 30 new restaurants in California and Nevada over the next 2 years "We have had considerable success when we open new, comfortable restaurants in new retail centers that are convenient to our customers, and our brand is very strong on the West Coast and Nevada," said Mr. McCourt.
Round Table also announced several other promotions in its organization. Clint Dennis will become Director, Information Services, Jeff Rahn assumes the position of Director, Brand Marketing, Dave Cheney becomes Director, Franchise Business Services, and Farhan Jalil will be elevated to Senior Manager, Financial Planning and Analysis. Mr. Fletcher explained that "these individuals are being recognized for the leadership and significant contributions each has made toward the continuing success of our business."