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Burger King Corporation names Greg Brenneman Chief Executive Officer
Greg Brenneman, currently chairman and CEO of TurnWorks, Inc., has been named chief executive officer of Burger King Corporation, effective August 1. Mr. Brenneman, 42, is widely recognized for his ability to turn around companies by focusing on industry leading customer service and working with employees to create great places to work.
July 12, 2005
MIAMI, July 13 /PRNewswire/-- Greg Brenneman, currently chairman and CEO of TurnWorks, Inc., has been named chief executive officer of Burger King Corporation, effective August 1. Mr. Brenneman, 42, is widely recognized for his ability to turn around companies by focusing on industry leading customer service and working with employees to create great places to work. In a statement, the Board of Directors, said: "We have worked with Greg in the past and know him well. He is an accomplished and experienced executive whose drive for fast-paced change and enhanced performance will be invaluable to Burger King Corporation as it strengthens its position in the fast food industry. Greg will provide both the strategic direction and hands-on execution the company needs. He has a talent for creating a great place for people to work and as his track record proves he is passionate about customer service.""I am excited to join the professional men and women of the BURGER KING® system and look forward to working with the Franchisees to grow their businesses," Mr. Brenneman said. "Burger King Corporation is an international company with a great brand, a proud past and an exciting future. The Company has many exciting initiatives underway. We will work together to quickly build on our current momentum by improving our products and customer service in ways that stand out for our customers."Brenneman's ExperienceMr. Brenneman joins Burger King Corporation from his Houston-based private equity firm, TurnWorks, Inc, founded in 1994, which is structured so that its principals undertake long term assignments in companies with the goal of dramatically improving financial performance, delivering best in class products and services, and creating an environment where employees like coming to work. In June 2002, Mr. Brenneman was appointed CEO of PricewaterhouseCoopers Consulting and in two months was able to put in place a plan to restructure the business, bring in new management and prepare it for an IPO in a very difficult financial market. These efforts led to the strategic sale of the business to IBM for $3.5 billion. The merger was put together in a manner that created a more attractive career path for the partners and staff of PwC Consulting than would have occurred with the IPO -- at a greater valuation as well.mmFor six years, as President and Chief Operating Officer of Continental Airlines, Mr. Brenneman helped lead the carrier from many years of losses to renewed profitability and prominence in what is regarded as one of the most successful turnarounds in American business history. Continental became one of the country's most consistently reliable airlines in the world, and one of the 100 Best Places to Work as ranked by Fortune magazine. During Brenneman's tenure at Continental the company earned numerous awards, including the J.D. Power and Associates award as the best airline for four out of five years, the Freddie Award for the best frequent flyer program for four years in a row, and the Wall Street Journal award for the best international business class product. Texas Pacific Group was the equity sponsor that brought Continental out of bankruptcy. Prior to PricewaterhouseCoopers Consulting, Continental and TurnWorks, Mr. Brenneman was a Vice President at Bain and Company, Inc., where he specialized in corporate turnarounds as a Bain partner and member of the Executive Committee of the Board. Mr. Brenneman earned his MBA with distinction at Harvard Business School and a BA in Accounting/Finance summa cum laude from Washburn University of Topeka, Kansas. He serves on the Boards of Directors of The Home Depot, Inc. and Automatic Data Processing, Inc. (ADP).For more information about Mr. Brenneman, please visit http://www.bk.com/press.About Burger King CorporationOur vision: We proudly serve the best burgers in the business, plus a variety of real, authentic foods ... all freshly prepared ... just the way you want it. The BURGER KING system operates more than 11,220 restaurants in all 50 states and in 60 countries and territories around the world. Ninety-one percent of BURGER KING restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades. Burger King Holdings, Inc., the parent company, is private and independently owned by an equity sponsor group comprised of Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners. In fiscal year ending June 30, 2003, Burger King Corporation had system-wide sales of $11.1 billion. To learn more about BURGER KING, please visit the company's website at http://www.burgerking.com.Source:Burger King Holdings, Inc.,Web Site:http://www.burgerking.com http://www.bk.com/press
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