MISSISSAUGA, ON, May 10, 2017 /CNW/ - The Second Cup Ltd. (TSX: SCU) announced that CEO, Alix Box will be leaving the company effective May 10 and stepping down as a director at that time. Garry MacDonald has been appointed interim CEO.
Ms. Box who was appointed CEO of Second Cup in 2014 said: "When I joined Second Cup I committed to a complete ground-up reorganization including reducing expenses and overhead because I felt strongly that if we could fix the foundation, we could move forward to transform what I believe is an iconic Canadian brand. Now the time has come for me to move on to my next challenge and I wish all my colleagues at Second Cup the very best as that transformation continues."
Mr. MacDonald joined the Second Cup Board of Directors earlier this year and has extensive experience in the franchised specialty food sector. Since 2002, Garry has served as CEO of Maccess Management International, which provides consulting services to international multi-brand franchise organizations, including Yogen Fruz, Pinkberry, Kahala Brands and CKE. From 1989-2002, Mr. MacDonald served as President of Country Style Donuts and Bunsmaster Bakeries, building from 90 to 650 units culminating in a successful sale of the business.
Michael Bregman, Chairman said "Second Cup today is a much better company than three years ago. We thank Alix for her leadership and contributions over the past three years. At this time, we are focussed on capitalizing on the considerable potential to build value at Second Cup. Garry MacDonald has identified areas for improvement and he has the background, knowledge and experience to lead the way. We are fortunate that Garry has agreed to forego his other responsibilities in order to join Second Cup today as interim CEO."
About Second Cup Coffee Co.™
Founded in 1975, The Second Cup Ltd. is a Canadian specialty coffee retailer operating over 290 franchised and company owned cafes in Canada. For more information, please visit www.secondcup.com or find the company on Facebook and Twitter.
SOURCE The Second Cup Ltd.