Tuesday, November 25, 2008

WANTED: New Pei Wei president

All of you out-of-work restaurant execs, get your resumes to Alice Elliot ASAP. Her company is handling the search for a successor to Russell Owens, who's stepping down next month as president of Pei Wei Asian Diner, the fast-casual little sister of P.F. Chang's. His resignation was announced this morning.

It's probably not a job for the faint of heart. Chang's has been taking its lumps from Wall Street, along with almost every public restaurant company. Shares are trading at roughly half the annual high of $33. And your mission, the company said, is president is "to bring Pei Wei to the next level of growth and profitability." Capital is frozen and restaurant spending is depressed by an historic degree. At least the statement didn't mention leaping tall buildings at a single bound.

You can see the official announcement here.

No comments: