Good Times Restaurants Announces Change in Chief Executive Officer
October 08 2019 - 5:47PM
Business Wire
Good Times Restaurants Inc.
(Nasdaq: GTIM) (“Good Times” or the “Company”) today announced the
departure of its Chief Executive Officer, Boyd Hoback and his
resignation from the Company’s Board of Directors. The Company has
named Ryan Zink, the Company’s current Chief Financial Officer, as
its acting Chief Executive Officer. Mr. Zink is a candidate for the
permanent CEO position and will also remain the Company’s Chief
Financial Officer until a permanent CEO is named.
“We are grateful to Boyd for his many invaluable contributions
to Good Times as Chief Executive Officer and during his 30 plus
year tenure at the company. As a founder of the Good Times brand,
Boyd will always be indelibly linked to the company and deservedly
so,” said Geoff Bailey, Chairman of the Board of Directors of Good
Times. “It goes without saying that we wish Boyd all the best in
his future endeavors.”
“Good Times is a first-class organization with an exciting
future, and I am proud of my legacy there. I will sincerely miss
all of the company’s various constituents that I have gotten to
know and worked closely with during my leadership of Good Times,
including our customers, management team and employees,” said Boyd
Hoback. “I wish the company the very best and look forward to my
next chapter.”
Mr. Bailey, further commented, “We want to thank Ryan for
stepping up to fill the role of Chief Executive Officer on an
acting basis. Ryan’s familiarity with the company, his financial
responsibilities and his role across the organization makes him a
logical choice to serve as our top executive at this time, and his
broad understanding of the needs and character of our organization
will be of great value as we pursue filling the permanent CEO
role.”
About Good Times Restaurants Inc.: Good Times Restaurants
Inc. (GTIM) owns, operates, franchises and licenses 38 Bad Daddy’s
Burger Bar restaurants through its wholly-owned subsidiaries. Bad
Daddy’s Burger Bar is a full service, upscale, “small box”
restaurant concept featuring a chef driven menu of gourmet
signature burgers, chopped salads, appetizers and sandwiches with a
full bar and a focus on a selection of craft microbrew beers in a
high energy atmosphere that appeals to a broad consumer base.
Additionally, through its wholly-owned subsidiaries, Good Times
Restaurants Inc. operates and franchises a regional quick service
restaurant chain consisting of 34 Good Times Burgers & Frozen
Custard restaurants, located primarily in Colorado.
Good Times Forward Looking Statements: This press release
contains forward-looking statements within the meaning of federal
securities laws. The words “intend,” “may,” “believe,” “will,”
“should,” “anticipate,” “expect,” “seek” and similar expressions
are intended to identify forward-looking statements. These
statements involve known and unknown risks, which may cause the
Company’s actual results to differ materially from results
expressed or implied by the forward-looking statements. These risks
include such factors as the uncertain nature of current restaurant
development plans and the ability to implement those plans and
integrate new restaurants, delays in developing and opening new
restaurants because of weather, local permitting or other reasons,
increased competition, cost increases or shortages in raw food
products, and other matters discussed under the “Risk Factors”
section of Good Times’ Annual Report on Form 10-K for the fiscal
year ended September 25, 2018 filed with the SEC. Although Good
Times may from time to time voluntarily update its forward-looking
statements, it disclaims any commitment to do so except as required
by securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20191008005955/en/
Ryan Zink, Chief Financial Officer, (303) 384-1432 Christi
Pennington, (303) 384-1440
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