MIAMI, July 13 /PRNewswire/ -- Greg Brenneman, currently chairman and CEO
of TurnWorks, Inc., has been named chief executive officer of Burger King
Corporation, effective August 1. Mr. Brenneman, 42, is widely recognized for
his ability to turn around companies by focusing on industry leading customer
service and working with employees to create great places to work.
(Logo: http://www.newscom.com/cgi-bin/prnh/20031014/BKLOGO )
In a statement, the Board of Directors, said: "We have worked with Greg
in the past and know him well. He is an accomplished and experienced
executive whose drive for fast-paced change and enhanced performance will be
invaluable to Burger King Corporation as it strengthens its position in the
fast food industry. Greg will provide both the strategic direction and
hands-on execution the company needs. He has a talent for creating a great
place for people to work and as his track record proves he is passionate about
customer service."
"I am excited to join the professional men and women of the BURGER KING(R)
system and look forward to working with the Franchisees to grow their
businesses," Mr. Brenneman said. "Burger King Corporation is an international
company with a great brand, a proud past and an exciting future. The Company
has many exciting initiatives underway. We will work together to quickly
build on our current momentum by improving our products and customer service
in ways that stand out for our customers."
Brenneman's Experience
Mr. Brenneman joins Burger King Corporation from his Houston-based private
equity firm, TurnWorks, Inc, founded in 1994, which is structured so that its
principals undertake long term assignments in companies with the goal of
dramatically improving financial performance, delivering best in class
products and services, and creating an environment where employees like coming
to work.
In June 2002, Mr. Brenneman was appointed CEO of PricewaterhouseCoopers
Consulting and in two months was able to put in place a plan to restructure
the business, bring in new management and prepare it for an IPO in a very
difficult financial market. These efforts led to the strategic sale of the
business to IBM for $3.5 billion. The merger was put together in a manner
that created a more attractive career path for the partners and staff of PwC
Consulting than would have occurred with the IPO -- at a greater valuation as
well.
For six years, as President and Chief Operating Officer of Continental
Airlines, Mr. Brenneman helped lead the carrier from many years of losses to
renewed profitability and prominence in what is regarded as one of the most
successful turnarounds in American business history. Continental became one
of the country's most consistently reliable airlines in the world, and one of
the 100 Best Places to Work as ranked by Fortune magazine. During Brenneman's
tenure at Continental the company earned numerous awards, including the J.D.
Power and Associates award as the best airline for four out of five years, the
Freddie Award for the best frequent flyer program for four years in a row, and
the Wall Street Journal award for the best international business class
product. Texas Pacific Group was the equity sponsor that brought Continental
out of bankruptcy.
Prior to PricewaterhouseCoopers Consulting, Continental and TurnWorks, Mr.
Brenneman was a Vice President at Bain and Company, Inc., where he specialized
in corporate turnarounds as a Bain partner and member of the Executive
Committee of the Board. Mr. Brenneman earned his MBA with distinction at
Harvard Business School and a BA in Accounting/Finance summa cum laude from
Washburn University of Topeka, Kansas.
He serves on the Boards of Directors of The Home Depot, Inc. and Automatic
Data Processing, Inc. (ADP).
For more information about Mr. Brenneman, please visit
http://www.bk.com/press .
About Burger King Corporation
Our vision: We proudly serve the best burgers in the business, plus a
variety of real, authentic foods ... all freshly prepared ... just the way you
want it.
The BURGER KING system operates more than 11,220 restaurants in all
50 states and in 60 countries and territories around the world. Ninety-one
percent of BURGER KING restaurants are owned and operated by independent
franchisees, many of them family-owned operations that have been in business
for decades.
Burger King Holdings, Inc., the parent company, is private and
independently owned by an equity sponsor group comprised of Texas Pacific
Group, Bain Capital and Goldman Sachs Capital Partners. In fiscal year ending
June 30, 2003, Burger King Corporation had system-wide sales of $11.1 billion.
To learn more about BURGER KING, please visit the company's website at
http://www.burgerking.com.
SOURCE Burger King Holdings, Inc.,
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Related links:
http://www.burgerking.com
http://www.bk.com/press
Photo Notes:http://www.newscom.com/cgi-bin/prnh/20031014/BKLOGO
Company News On-Call:
http://www.prnewswire.com/comp/124650.html
CONTACT:
Eric Anderson, Burger King Corporation,
+1-305-378-7277
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