Donini Announces New President for Canadian Subsidiary
September 29 2009 - 11:18AM
Marketwired
Peter Deros, President and CEO of Donini Inc. (PINKSHEETS: DNNC),
announced today that Jean Vassiliadis has been named President and
CEO of its operating Canadian subsidiary Pizzacorp DTC Franchises
Inc., effective immediately. Mr. Vassiliadis is currently an owner
operator of a Pizza Donini franchise in the greater Montréal area
and a member of the Board of Directors of Donini Inc.
Mr. Vassiliadis, age 46, started his food service career with
Pizza Donini twenty three (23) years ago, initially working as a
cook and pizza delivery person at Pizza Donini's first outlet. He
then owned and operated several franchises and ultimately joined
the management of Pizza Donini in 2000. Mr. Vassiliadis held
positions as Manager of Operations, Director of Food Services and,
eventually, the Vice President of Business to Business Development.
Following the corporate restructuring and the outsourcing of the
Company's manufacturing facilities, Mr. Vassiliadis's position was
eliminated, at which time he acquired a Pizza Donini franchise.
Mr. Deros stated that, "Mr. Vassiliadis has proven to be a
passionate leader that has the profound desire to see Pizza Donini
grow and prosper. He brings a comprehensive focus on cost controls,
quality of products and, most important, his positive relationships
with existing franchisees and suppliers." Mr. Vassiliadis will be
in control of all operations in this newly created position at the
Company.
Mr. Deros is confident that Mr. Vassiliadis appointment will
have a positive effect on the revenues and potential profitability
of the Company and the plans for expansion and raising capital will
be achieved. Mr. Deros will now be able to concentrate on the
Company's critical strategic expansion plans for the future. No
financial terms of the arrangement were disclosed; however Mr.
Deros stated that Mr. Vassiliadis will be a shareholder of the
subsidiary and he has agreed to defer receiving compensation until
the Company's cash flow and revenues increase.
About Donini, Inc.
Donini, Inc., a New Jersey Corporation, was established in 2001
when the company acquired control by way of a reverse merger of
Pizza Donini, a Canadian company that has been operating and
licensing Italian style restaurants specializing in pizza and
related products within the Greater Montreal Area in the province
of Quebec for over 20 years. The Company has recently completed a
consolidation of its operations by establishing two Canadian
Subsidiaries, Donini Group Inc. and Pizzacorp DTC Franchises Inc.,
whose purposes are; respectively, to hold and control the
intellectual property of the Company and to license the trademarks
and oversee the licensed franchisees of the marks. The Company
plans to expand its operations into the United States and the rest
of Canada.
Safe Harbor Statement
Certain statements in this press release that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
may be identified by the use of words such as "anticipate,"
"believe," "expect," "future," "may," "will," "would," "should,"
"plan," "projected," "intend," and similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of Pizza Donini, Inc., (the Company) to
be materially different from those expressed or implied by such
forward-looking statements. The Company's future operating results
are dependent upon many factors, including but not limited to the
Company's ability to: (i) obtain sufficient capital or strategic
business arrangement to fund expansion plans; (ii) build
management, human resources and infrastructure necessary to support
growth; (iii) competitive factors and developments beyond the
Company's control; and (iv) other risk factors.
Media Contact Peter Deros Donini, Inc. Phone: 514-956-0005 ext 2
pderos@pizzadonini.com
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