CARROLLTON Texas T.G.I. Friday’s parent Carlson Restaurants Worldwide said Tuesday that its president and chief executive, Richard Snead, is retiring and will be replaced next month by Nick Shepherd, most recently chairman and chief executive of Sagittarius Brands.
Snead, who has been on a leave of absence for health reasons since September, will remain with Carrollton, Texas-based Carlson Restaurants on a consultancy basis through the end of the year.
The move by Shepherd, who joined Sagittarius less than a year ago, has brought several changes among top management at Nashville, Tenn.-based company, which is parent to the Captain D’s and Del Taco quick-service chains.
Paul J. B. Murphy III, who stepped down as president and chief executive of Einstein Noah Restaurant Group in December, was named chief executive of the 510-unit Del Taco. He is scheduled to join Del Taco in mid-February, officials said. Einstein Noah is the parent of the Einstein Bros. Bagels chain, as well as Noah’s New York Bagels and Manhattan Bagels, with more than 600 units in 36 states.
David Head, formerly president and chief operating officer at Captain D’s, was promoted to chief executive of the 580-unit fried seafood chain. Prior to joining Captain D’s in 2006, Head was president and chief executive of Romacorp, parent of the Tony Roma’s restaurant chain.
Snead joined Carlson Restaurants in 1997 as executive vice president of the international division, and was named president and chief executive in April 2002. Since his leave of absence, Jeff Balagna, an executive vice president with Carlson Hospitality, has been serving as interim chief of Carlson Restaurants, which operates, licenses and franchises 1,021 restaurants in 62 countries under the T.G. I. Friday’s and associated brands, as well as the fast-casual Pick Up Stix chain.
Shepherd, who will join Carlson on Feb. 16, has more than 25 years experience with global operations, development, franchise, marketing and brand management at such companies as Allied Lyons Plc and Grand Metropolitan Plc in the United Kingdom as well as Blockbuster Inc.
“Nick is a proven leader and I am delighted he will be leading our restaurant business,” said Hubert Joly, president and chief executive of Carlson Restaurants’ parent company, Minneapolis-based Carlson Cos. Inc. “Nick’s track record combines solid operating experience across franchise and company systems, a proven ability to create brand value, a passion for developing robust management teams and an ability to read businesses through adverse market conditions.”
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