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Bojangles' CEO Kibler announces retirement

September 13, 2013

Bojangles' Restaurants Inc. has announced that Randy Kibler plans to retire from his role as president and chief executive officer once a successor is identified, but will remain an active member of the company's board of directors thereafter.

No other executive changes are anticipated at the Charlotte, N.C.-based chain.

Kibler, 59, will remain in his current role until a successor is selected by a search committee formed by the Bojangles' board of directors. Global executive search consulting firm Spencer Stuart has been retained to lead the search for a new leader.

Both internal and external candidates are being considered to lead the company, which includes approximately 550 franchised and company-owned restaurants in 10 Southeastern states and Washington, D.C.

"It is difficult to retire from an organization with so much momentum, and blessed with such fine people," Kibler said. "But after more than 40 years in the restaurant business it's time to spend more time with our grandchildren while supporting our church and community alongside my lovely wife of 39 years, Nancy. The Bojangles' brand has never been stronger, and it has never been in better hands than with the leadership team we have assembled and the ownership group that has supported our vision every step of the way."

Under Kibler's leadership, Bojangles' has increased its footprint by nearly 50 percent and has produced steady revenue gains. Sales jumped 12.7 percent from 2011 to 2012, from $767M in 2011 to $864M, according to Technomic data.

Andrew Crawford, a principal at Advent International, the global private equity firm that bought a controlling interest in Bojangles' in 2011, praised Kibler for leading the company on its current path of steady expansion and same-store sales growth.

"We are grateful that, by agreeing to serve on the board of directors, Randy will continue to offer Bojangles' his deep knowledge of the quick-service category and his insight into the importance of aligning the brand with its franchisee system," Crawford said.

Kibler joined Bojangles' in 2007, when the company was acquired by an investment group led by Falfurrias Capital Partners, a Charlotte-based private equity firm.

Kibler began his career in 1970 as an hourly employee of Richardson's Spartan Foods at a Hardee's in Columbia, S.C., and spent 26 years working at Spartan Foods and later Flagstar, where his roles included president and chief operating officer of the company's 600-restaurant Hardee's division, overseeing Quincy's Family Steakhouse, and serving as vice president of the western division of Denny's.

During Kibler's tenure Bojangles' has been recognized as the fastest-growing, free-standing quick-service restaurant concept in the country, receiving numerous other awards and accolades. He was also recently named a Top 10 Trendsetting Executive in QSR by QSRweb.

"It has been a blessing to lead a company with a 36-year history of offering a unique taste and experience that people truly crave," Kibler said. "Our terrific food, our wonderful people, and our success in all three dayparts have been the key to Bojangles' reaching new heights, and we are confident the brand will continue to do so for many years to come."

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