Papa Murphy’s Promotes Mark Hutchens to Chief Operating Officer
19 September 2017 - 6:00AM
Papa Murphy’s Holdings, Inc. (“Papa Murphy’s” or the “Company”)
(NASDAQ:FRSH) today announced that Chief Financial Officer Mark
Hutchens has been promoted to the role of Executive Vice President
and Chief Operating Officer of the Company, effective
immediately. Mr. Hutchens will continue in his role as Chief
Financial Officer until a qualified replacement is found.
Weldon Spangler, Chief Executive Officer of the
Company stated, “Mark has been an integral leader in his time at
Papa Murphy’s, demonstrating both financial and operational acumen
and a strong affinity for the franchise business model. In
addition to having a meaningful impact on the development of the
Company’s long-term strategy, Mark has driven several key business
initiatives over the last year that have positioned the Company for
continued profitability and growth, including our first-quarter
organizational realignment, recent Company-store portfolio actions
and the transition of our ecommerce platform to Olo.com. The
Board and I look forward to continuing to work closely with Mark
and to his increasing contributions to our business and
franchise-owners.”
Mark Hutchens added, “We’ve taken aggressive
steps in the last several months to reduce costs while also
ensuring that the right resources are focused on the support of our
owner-operators. Franchisee profitability is foundational to
our success and will continue to be a top priority in my new
role. I am excited to have the opportunity to work more
closely with our talented operators and the teams at Papa Murphy’s
who support them, while continuing to lead the financial functions
of the Company until a qualified successor is in place.
Working together, I am confident that the Company and our
franchise-owners can turn the business around and help the Papa
Murphy’s brand reach its full potential for our many
stakeholders.”
Mark Hutchens has served as the Company’s Chief
Financial Officer since January 2014 and was promoted to Executive
Vice President in June of this year. Previously, Mr. Hutchens
served as Vice President, Chief Financial Officer – International,
for Bloomin’ Brands, Inc., where his responsibilities included
finance, business development and supply chain management
activities for Outback Steakhouse International. Prior to
joining Bloomin’ Brands, he held a variety of leadership positions
at Office Depot, Yum! Brands, PepsiCo’s KFC subsidiary and Ford
Motor Company. Mr. Hutchens received his Master of Business
Administration degree from the Kelley School of Business at Indiana
University.
ABOUT PAPA MURPHY'SPapa Murphy's Holdings, Inc.
(“Papa Murphy’s” or the “Company”) (NASDAQ:FRSH) is a franchisor
and operator of the largest Take ‘n’ Bake pizza brand in the United
States, selling fresh, hand-crafted pizzas ready for customers to
bake at home. The company was founded in 1981 and currently
operates more than 1,500 franchised and corporate-owned fresh pizza
stores in 39 states, Canada and United Arab Emirates. Papa
Murphy's core purpose is to bring all families together through
food people love with a goal to create fun, convenient and
fulfilling family dinners. In addition to scratch-made
pizzas, the Company offers a growing menu of grab 'n' go items,
including salads, sides and desserts. Order online today at
www.papamurphys.com.
Investor Contact:Alexis Tessier,
ICRpapamurphys-ir@icrinc.com 877-747-7272
Media Contact:Christine Beggan,
ICRChristine.Beggan@icrinc.com203-682-8329
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