US restaurant chain Pizza Inn has said it has fired its president and chief executive officer Ronald Parker

"At a special meeting held on 11 December 2004, the board of directors of Pizza Inn terminated Ronald W. Parker pursuant to a notice of termination for violations of his employment agreement," the company said in a statement.

Pizza Inn added that it will immediately commence a nationwide search for a new chief executive officer. In the meantime, Rod McDonald, Pizza Inn's secretary and general counsel, has been appointed as acting CEO.

The company also announced that its annual meeting of shareholders, originally scheduled for 15 December 2004, has been postponed.