Walker to Retire as Frisch's CFO in Mid-Summer
Will Continue to Serve on Board of Directors
CINCINNATI, Feb. 1, 2011 /PRNewswire/ -- Frisch's Restaurants, Inc. (NYSE Amex: FRS), announced today that the Company's longtime CFO, Donald H. Walker, 65, plans to retire mid-summer this year.
Mr. Walker joined Frisch's in 1977 as its assistant treasurer, and has served in his current position of Vice President-Finance and Chief Financial Officer since 1996. He was elected to serve on the Frisch's board of directors in 2009 and will continue to serve in that capacity.
The Company will begin a search for Walker's replacement immediately, and hopes to have a new CFO named by late spring.
"We are grateful for Don's decades of tremendous service and for his role in facilitating a smooth transition as we determine his successor," said Craig Maier, Frisch's Restaurants, Inc., President and Chief Executive Officer. "The Company will have the benefit of Don's continued leadership on our board."
Frisch's Restaurants, Inc. is a regional company that operates full-service family-style restaurants under the name of Frisch's Big Boy. The Company owns the trademark "Frisch's" and has exclusive, irrevocable ownership of the rights to the "Big Boy" trademark, trade name and service mark in the states of Kentucky and Indiana, and in most of Ohio and Tennessee. The Company also licenses Big Boy restaurants to other operators in certain parts of Ohio, Kentucky and Indiana.
In addition, the Company operates grill buffet-style restaurants under the name Golden Corral under certain licensing agreements. Golden Corral restaurants currently operate primarily in the greater metropolitan areas of Cincinnati, Cleveland, Columbus, Dayton and Toledo, Ohio, Louisville, Ky. and Pittsburgh, Pa.
SOURCE Frisch's Restaurants, Inc.
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