Peabodys Coffee Inc. (OTCBB:PBDY) announced the company has appointed Cliff B. Young President and CEO, effective July 1, 2001. Mr. Young will also serve as director on the company’s board. He replaces co-founder Todd Tkachuk who has been appointed executive vice president of marketing and public relations. Mr. Tkachuk will continue to serve as the company’s chairman of the board.
Mr. Young brings 25 years of multi-unit food and beverage experience that includes management positions with Little Caesars Pizza and KFC. He founded and developed the highly acclaimed southern California-based specialty coffee retailer “Grounds For Enjoyment” voted Best Specialty Coffee retailer of the year 2000 by Inland Empire Magazine.
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Mr. Young has received numerous awards for his accomplishments in the specialty coffee industry. In 1998, Mr. Young was a nominee for the Ernst & Young’s “Entrepreneur of the Year” award for the Inland Empire. In 2001, he was appointed to the Specialty Coffee Association of America’s Membership Development Committee.
“I’m thrilled to have the opportunity to work with the talented people in this organization and to take this company to the next level,” said Young. “The company’s concept is solid and our niche in the market is wide open for rapid growth and consolidation.”
Director Barry Gibbons, former Burger King Chairman/CEO said, “We’ve really landed ourselves a good one with Cliff. This guy is incredibly passionate about coffee — he sees the market opportunity and has an exciting vision for our future. We’re exited about working with him.”
Peabodys Coffee, Inc. is a specialty coffee retailer who owns and operates 21 specialty coffee carts, kiosks, and a retail store located throughout California and Northern Nevada. The company’s operating units are typically located in institutional settings such as universities, hospitals and corporate office buildings.
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By GlobalDataThis release contains forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Readers should not place undue reliance on forward-looking statements, which reflect management’s view only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
