Champps Entertainment, Inc. Appoints New Chief Operating Officer and Chief Financial Officer
August 18 2005 - 3:00PM
Business Wire
Champps Entertainment, Inc. (NASDAQ:CMPP) today announced that
Michael P. O'Donnell, recently appointed CEO, has named two key
additions to the company's management team. Rich Scanlan, a
restaurant operations veteran, has returned to Champps as its newly
appointed Chief Operating Officer. Scanlan replaces Don Lamb who
left the company last May. Scanlan previously worked for Champps as
a Director of Operations from 1997 to 2000. Scanlan most recently
served as one of the creators and the Vice President of Operations
for "Carmela's", the full service Italian division of Sbarro, Inc.
In that capacity he reported directly to Michael O'Donnell, the
then CEO of Sbarro. Prior to Carmela's, Scanlan served as a Senior
Director of Operations for the Hard Rock Cafe and also spent
approximately 14 years in various operating positions with TGI
Friday's. "I had the pleasure of working directly with Rich during
my time at Sbarro and have followed his career closely from
Friday's to Champps to Hard Rock. Rich was a key contributor to the
Champps' solid execution and sales levels during his previous
tenure with the company and has demonstrated the leadership and
operational excellence we need at Champps. He already knows the
culture and can hit the ground running. I am very pleased to have
Rich back on my team," said Michael O'Donnell, Chief Executive
Officer. In addition, Dave Womack, the company's former Vice
President of Finance and Controller, replaces Fred Dreibholz as the
company's Chief Financial Officer. Dreibholz left the company
effective August 16, 2005, to pursue other opportunities. Clint
Woodruff has also been promoted from Assistant Controller to Vice
President/Controller. Womack has almost 20 years of restaurant
industry experience in accounting and financial management. He
previously was Controller at Champps for over 2 years and also
worked for almost 12 years at VICORP Restaurants, Inc., the parent
of Village Inn and Bakers Square, in various capacities including
Vice President/Controller. Womack has also served in a variety of
other restaurant financial, accounting and managerial roles
including Chief Executive Officer and Chief Financial Officer at
the Wynkoop Brewing Company, a private Denver-based company. "Dave
has demonstrated great financial and leadership skills in the
several months we have worked together and he has been critical in
implementing our Sarbanes-Oxley initiatives. Our team is very
fortunate to have Dave's capabilities combined with his previous
Champps' experience. These two key appointments will further the
successful implementation of our strategic initiatives as we focus
on returning Champps to operational excellence," said Michael
O'Donnell, Chief Executive Officer. Champps plans to announce
fourth-quarter 2005 financial results after the market closes on
August 31, 2005 and to file its Annual Report on Form 10-K on a
timely basis. Littleton, Colo.-based Champps Entertainment, Inc.
owns and operates 53 and franchises 12 Champps restaurants in 23
states. Champps, which competes in the upscale casual dining
segment, offers an extensive menu consisting of freshly prepared
food, coupled with exceptional service. Champps creates an exciting
environment through the use of videos, music, sports and
promotions. Certain statements made in this press release are
forward-looking statements based on management's current experience
and expectations. These forward looking statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such statements involve certain
risks and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Among the
factors that could cause future results to differ materially from
those provided in this press release are: the ability of the
Company to open and operate additional restaurants profitably, the
ability of the Company to successfully implement our strategic
initiatives to improve revenues and profitability, the impact of
intense competition in the casual dining restaurant industry, the
Company's ability to control restaurant operating costs, which are
impacted by commodity prices, minimum wage and other employment
laws, fuel and energy costs, consumer perceptions of food safety,
changes in consumer tastes and trends, and general business and
economic conditions. Information on significant potential risks and
uncertainties that may also cause such differences include, but are
not limited to, those mentioned by the Company from time to time in
its filings with the SEC. The words "may," "believe," "estimate,"
"expect," "plan," "intend," "project," "anticipate," "should" and
similar expressions and variations thereof identify certain of such
forward-looking statements, which speak only as of the dates on
which they were made. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events, or otherwise.
Readers are cautioned that any such forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties, and, therefore, readers should not place undue
reliance on these forward-looking statements. x
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