MONCTON, NB, June 21, 2013 /CNW/ - Imvescor Restaurant Group Inc. ("IRG" or the "Company") (TSX: IRG), announced today that Mr. Denis Richard will step aside as President and Chief Executive Officer of the Company. However, Mr. Richard will remain on the board of directors during the transition period.
"We would like to thank Mr. Richard for his contributions in the last few years. Mr. Richard has led the Company through significant restructuring and refinancing transactions, all of which has positioned the Company for future success" said Robb Chase.
The Company also confirmed today the appointment of Mr. Chase as Chairman of the Board. Mr. Chase joined the Board in 2011 and has been serving as Lead Director and member of the Audit and Risk Committee. Mr. Chase's extensive foodservice experience includes senior positions with Quiznos Canada Restaurant Corporation, Papa John's International, Pepsico Restaurants International, Pizza Hut, KFC and Taco Bell.
The board of directors has initiated a process to identify a new Chief Executive Officer of the Company. Ms. Ming-Ming Wong, CFO, has been appointed as the interim CEO of the Company.
"The Board will be working closely with Ms. Wong during this transition period. Ms. Wong's commitment and dedication over the last 10 years with the Company will help in the management transition" said Mr. Chase.
About Imvescor Restaurant Group
Headquartered in Moncton, New Brunswick, Imvescor Restaurant Group owns franchised and corporate stores throughout Canada, under four brands: Pizza Delight® operates primarily in Atlantic Canada, where it dominates the family/mid-scale segment. Mikes® and Scores® restaurants operate primarily in Quebec in the family and casual dining segments and the take-out and delivery segments. Bâton Rouge® operates in Quebec, Ontario, Alberta and Nova Scotia in the casual dining segment.
Cautionary Note Regarding Forward-Looking Statements
Certain information in this press release regarding the Company, including, but not limited to, the Company's business objectives, strategies and priorities, and other statements that are not historical facts, are "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements involve known and unknown risks, uncertainties and other factors beyond the Company's control referenced in the Company's continuous disclosure filings which are available on SEDAR at www.sedar.com. Although the forward-looking statements contained herein are based upon what the Company believes to be reasonable assumptions on the date of this press release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update such forward-looking statements to reflect new information, future events or otherwise, except as required by applicable securities laws.
SOURCE: Imvescor Restaurant Group Inc.
For further information:
Ming-Ming Wong, CFO and Interim CEO
Robb Chase, Chairman of the Board
Imvescor Restaurant Group Inc.