Jamba Juice Hires David A. Pace as New Chief Executive Officer
January 22 2016 - 7:10AM
Business Wire
Existing Director Richard L. Federico named
Chairman
Jamba, Inc. (NASDAQ:JMBA) (“Jamba” or the “Company”), a leading
health and wellness brand, today announced that David A. (Dave)
Pace will be the company’s next Chief Executive Officer. Mr. Pace,
a member of Jamba’s Board of Directors (the “Board”) since 2012,
succeeds James D. White. Mr. Pace has been appointed CEO effective
today, and will start with the Company on March 14th. Jamba also
announced that Richard L. (Rick) Federico, a member of the Board
since 2006 and most recently Chief Executive Officer of P.F.
Chang’s China Bistro Inc, will assume the role of Chairman and
remain an independent director on the Board, effective
immediately.
Mr. Pace, 56, joins Jamba from Bloomin’ Brands, where he served
as Executive Vice President and President of its Carrabba’s Italian
Grill since 2014. Before he oversaw the domestic operations and
development of Carrabba’s, Mr. Pace was Bloomin’ Brands’ Chief
Resources Officer and was responsible for Fleming’s Prime
Steakhouse & Wine Bar and Roy’s Hawaiian Fusion, in addition to
overseeing the Real Estate/Development and Human Resources
functions. Prior to joining Bloomin’ Brands in 2010, Mr. Pace held
executive positions with Starbucks Coffee Company, PepsiCo and Yum!
Brands, Inc.
“After a comprehensive executive search conducted by the Board
and aided by The Elliot Group, Dave emerged from a deep pool of
highly skilled candidates as the clear choice to serve as Jamba’s
next CEO,” said Andrew Heyer, lead Independent Director of the
Board. “As a seasoned restaurant professional, Dave brings to Jamba
a tremendous amount of experience gained from his time at some of
the industry’s top consumer and franchise brands. His strong track
record of financial and operational success, most recently helping
Carrabba’s solidify its position as Casual Dining’s #1 Italian
restaurant concept, will prove vital in Jamba’s continued quest to
create extraordinary value for our customers, shareholders and
employees.”
Mr. Heyer continued: “Rick’s reputation as one of the most well
respected executives in the restaurant industry, along with his
intimate knowledge of Jamba’s operations and strategic goals, were
instrumental in the Board’s unanimous decision to have him serve as
the Company’s Chairman.
“Jamba is uniquely positioned as the leading health and wellness
brand in the restaurant industry, and I am honored to be given an
opportunity to lead the Company’s operations and continued growth,”
said Mr. Pace. “Having served as a Director of Jamba for the last
three years, I have a strong understanding of the unique
opportunity that Jamba has to build on its leadership position
within the quick serve, health and wellness category. We have a
phenomenal brand, engaged franchisees and a talented team, all of
which are key ingredients that will allow Jamba to reach its full
potential for customers, employees, and shareholders.”
Mr. Pace graduated with a Bachelor of Science in Industrial and
Labor Relations from Cornell University.
About Jamba, Inc.
Jamba, Inc., owns and franchises Jamba Juice® stores through its
wholly-owned subsidiary, Jamba Juice Company. Jamba Juice Company
is a leading restaurant retailer of better-for-you, specialty
beverage and food offerings, which include great tasting, whole
fruit smoothies, fresh-squeezed juices and juice blends, hot teas
and a variety of food items including, hot oatmeal, breakfast
wraps, sandwiches, Artisan Flatbreads™, Energy Bowls™, baked goods
and snacks. As of September 29, 2015, there were 884 store
locations globally. There were 94 Company-owned and operated stores
and 720 franchise-operated stores in the United States, and 70
franchise-operated international stores. Jamba Juice Company
expanded the Jamba® brand by direct selling of consumer packaged
goods (“CPG”) and licensing its trademarks. CPG products for
at-home enjoyment are also available online, through select
retailers across the nation and in Jamba® outlets in the United
States.
Fans of Jamba Juice® can find out more about Jamba Juice's
locations as well as specific offerings and promotions by visiting
the Jamba Juice website at www.jambajuice.com or by contacting
Jamba’s Guest Services team at 1-866-4R-FRUIT (473-7848).
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160122005225/en/
ICRDara Dierks, 203-682-8200investors@jambajuice.comorJamba
JuiceMike Fuccillo, 510-596-0100, X-7Dir. Corporate
Communicationsmfuccillo@jambajuice.com
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