Quiznos Investor to Become CEO

Related Files QUIZNOS INVESTOR TO BECOME CEO

Release date: February 24, 2009  /  Print This     RSS    

DENVER—FEBRUARY 23, 2009 – Quiznos, one of the nation’s premier quick service restaurant

chains and pioneer of the toasted sandwich, today announced Dave Deno has resigned due to personal

reasons. Quiznos’ previous CEO Greg Brenneman will continue in his role as Executive Chairman, and

Quiznos founder Rick Schaden will become CEO.

The involvement of Greg Brenneman and Rick Schaden in these roles signals the personal commitment of

Quiznos’ three large shareholders.

“Rick’s amazing entrepreneurial skills were perfect for building Quiznos from the ground up and are ideal

to grow the company in this tough economic environment,” said Greg Brenneman, Executive Chairman.

“Rick was a franchise owner before buying and growing Quiznos. He has a detailed understanding of the

brand. The marriage of Rick’s passion for the brand and new products, along with the world class

management team we have brought in over the past two years, will enable us to maximize franchise owner

profitability going forward. The Board would also like to thank Dave Deno for his service to the brand,

both as a Board member and as CEO.”

“Quiznos is a great brand that has just begun to harvest its incredible growth potential in both US and

international markets,” said Rick Schaden, Founder and CEO. “It is important that the investors directly

spend their time and efforts with the company during these challenging economic times. Greg and I enjoy

working together and will continue to do so in his role as Chairman of CCMP Capital Advisors and

Executive Chairman of Quiznos.”

Rick Schaden continues: “I am excited about working closely with franchise owners to improve restaurant

operations. I also look forward to spending time with the outstanding Quiznos management team

developing new products. Moving forward, our strategy will be exactly as it is today. Our primary focus

will be on increasing restaurant profitability for our franchise owners by bringing value and convenience to

consumers so that they frequent Quiznos more often.”

About Rick Schaden

Rick Schaden is the Founder, CEO and large shareholder of Quiznos, building the brand since 1991 from

18 franchises to over 5,000 worldwide today. Mr. Schaden is also the Founder & Chairman of Consumer

Capital Partners, a nationally recognized private investment, concept development, strategic advisory and

causal marketing firm. Among other initiatives, Consumer Capital Partners is actively developing new

restaurant and retail concepts including Smashburger, a rapidly growing "better burger" hamburger

concept.

Mr. Schaden is a recognized leader in philanthropy, having created the “causal capitalism” model and is

heavily involved in supporting many global, national and local charities. Mr. Schaden and his family

founded the Schaden Family Fund, a charitable foundation that actively supports initiatives focused on

ending world poverty through Millennium Promise, CARE, and UNICEF. Mr. Schaden is also a founder of

America's Road Home, a 501(c)(3) public charity focused on ending family homelessness in the United

States. Mr. Schaden and his wife recently received the national "Home for Every American" award from

the United States Interagency Council on Homelessness for their support of America's Road Home.

Locally, Mr. Schaden is actively involved with helping high-performing low-opportunity children in the

Denver area achieve their full potential thru Smart-Girl and Kent Denver.

Mr. Schaden has won numerous industry and business innovation awards and distinctions and has served

on several White House advisory councils. Mr. Schaden graduated Magna Cum Laude from the University

of Colorado with a degree in Business Management and Finance.

About CCMP and Quiznos

In May 2006, Cervantes Capital sold part of its ownership in Quiznos to J.P. Morgan Partners, a private

equity division of J.P. Morgan Chase & Company, in order to take the company to the next level. CCMP

Capital Advisors, LLC, a private equity firm formed by the former buyout/growth equity professionals of

J.P. Morgan Partners, manages the investment for J.P. Morgan Partners. Cervantes Capital, J.P. Morgan

Partners and Mr. Brenneman’s firm, TurnWorks Inc. who bought into the partnership in January 2007 all

have equity positions in the Company. Mr. Brenneman also serves as full time Chairman and a member of

the Investment Committee of CCMP Capital Advisors, LLC.

About Quiznos

Celebrating its 27th anniversary, Denver-based Quiznos is a national chain designed for today's busy

consumers who are looking for a tasty, freshly prepared alternative to traditional fast food restaurants.

Using only premium quality ingredients, Quiznos restaurants offer creative, chef-inspired recipes for

sandwiches, soups and salads. With more than 5,000 franchise restaurants, Quiznos is one of the fastest

growing quick service restaurant chains. In December 2007, the Quiznos management team was named the

"Best New Class" by QSR Magazine.

In October 2007, Quiznos was recognized for leading the QSR industry in wait time performance by the

Mystery Shopping Providers Association's (MSPA) 2007 Wait Time Study. In May 2007, Zagat's

consumer surveys listed Quiznos in the top 5 for Top Food, Top Facilities, Top Service and Top Overall,

ahead of its direct competitors. In June 2006, Nation's Restaurant News ranked Quiznos in its Top 100

Restaurant Chains as the #1 restaurant chain in growth in number of units--five years in a row.

Entrepreneur magazine in January, 2006 ranked Quiznos in its annual Top Franchise 500 as the #2 Best

Overall Franchise and QSR magazine ranked the chain in its Top 50 Chains in August, 2005 as #3 by

change in system-wide sales.

For further information, please visit www.quiznos.com

Media Contacts

Stephen H. Coltrin

Coltrin and Associates

(212) 221-1616

Allison Riley

Coltrin and Associates

(212) 221-1616

allison_riley@coltrin.com