Greg Brenneman new chief executive officer of Burger King
In a statement, the Board of Directors in Miami said: "We have worked with Greg Brenneman in the past and know him well. He is an extremely capable and experienced man and his determination for rapid change and greater efficiency will serve citizens well King Corporation will be immeasurable. This will strengthen the company's position in the fast food industry. Brenneman will provide both the strategic direction and the energetic leadership the company needs. He excels at providing a pleasant work environment for his employees His achievements to date show that he pays particular attention to customer service."
"I am excited to join the BURGER KING(R) System's professional community and work with franchisees to continue to grow their business results," said Brenneman. "Burger King Corporation is an international company with a strong brand, a proud past and an exciting future. The company has many exciting initiatives planned. We will work closely together to capitalize on our current positive approaches by enhancing our products and our... Continue to improve customer care in a way that will delight our customers."
Brenneman's experience
Brenneman currently directs his private equity firm, Houston-based TurnWorks, Inc., founded in 1994. This company is structured so that its agents accept long-term engagements with the goal of significantly improving financial returns, providing industry-leading products and services, and creating a work environment where employees enjoy working.
In June 2002, Brenneman was elected CEO of PricewaterhouseCoopers Consulting. After two months, he was already able to implement a plan to restructure the company, install a new management and prepare the company for a takeover bid in an extremely difficult financial market. These efforts have led to the strategic sale of the business to IBM for $3,5 billion. The takeover was characterized by the fact that a more attractive career path was created for partners and staff of PwC Consulting than would have been the case with the takeover offer. It also got a higher rating.
For six years, Brenneman led the airline's fortunes as President and Chief Operating Officer of Continental Airlines, returning it to profitability and a recognized position after several years of losses. This feat is widely regarded as one of the most successful turnarounds in American corporate history. Continental has been named one of the most reliable airlines in the world and one of Fortune magazine's top 100 companies to work for. During Brenneman's time at Continental, the company received numerous awards, including the JD Power and Associates award for Best Airline four times in five years, the Freddie Award for Best Frequent Flyer Program four years in a row, and the Wall Street Journal award for the best international business class product. Texas Pacific Group was the financier that saved Continental from bankruptcy.
Prior to PricewaterhouseCoopers Consulting, Continental and TurnWorks, Brenneman was a vice president at Bain and Company, Inc., where he focused on corporate transformations as a partner and member of the Executive Committee of Boards. Brenneman holds an MBA with honors from Harvard Business School and a BA in Accounting/Finance from Washburn University of Topeka, Kansas, summa cum laude
Than the best.
He serves on the board of directors of The Home Depot, Inc. and on the board of Automatic Data Processing, Inc., (ADP).
Burger King Corporation
The BURGER KING system operates more than 1.220 restaurants in all 50 states of the United States and in 60 countries worldwide. 91 percent of the BURGER KING restaurants are independently managed franchise companies. Many of them have been family businesses for decades.
The parent company, Burger King Holdings, Inc., is a private and independent corporation owned by Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners. For the fiscal year ended June 30, 2003, Burger King Corporation had systemwide sales of $11,1 billion.
Source: Miami [ bk ]
