GOLDEN Colo. Boston Market, the 530-unit fast-casual chain based here. —Industry veteran Lane Cardwell Jr. has been named president and chief executive of
He replaces Rick Arras, who resigned after two years to pursue other interests, officials said. —Industry veteran Lane Cardwell Jr. has been named president and chief executive of
In his new position, Cardwell will be charged with putting Boston Market, which was purchased by Sun Capital for an undisclosed sum in 2007, back on a growth track. —Industry veteran Lane Cardwell Jr. has been named president and chief executive of
“Lane is a highly accomplished professional with an impressive track record on moving the needle forward for growing restaurant businesses,” said Chris Metz, a managing director at Sun Capital. —Industry veteran Lane Cardwell Jr. has been named president and chief executive of
Cardwell’s almost 30-year industry career includes stints with S&A Restaurant Corp. and Brinker International, where he had been chief administrative officer and later chief executive of Eatzi’s Market and Bakery. Since leaving Eatzi’s in 1999, he has been active on several corporate boards, including P.F. Chang’s China Bistro, Taco Bueno, Fish-bowl Marketing, Order Corner and Famous Dave’s of America. —Industry veteran Lane Cardwell Jr. has been named president and chief executive of
Cardwell spent five months in 2008 as the interim chief executive and president of Famous Dave’s. That experience whetted his appetite for another leadership role, he said. —Industry veteran Lane Cardwell Jr. has been named president and chief executive of
Cardwell has known previous Boston Market CEOs, including the late Mike Jenkins, who steered the company through bankruptcy, and Scott Beck, who developed the chain, originally known as Boston Chicken, into a trail-blazing “home meal replacement” concept. —Industry veteran Lane Cardwell Jr. has been named president and chief executive of
When Boston Chicken went public in 1993, it set records as its initial offering price of $20 soared to $48.50 on the first day. Still, skeptics pointed to poor unit economics that in five years would force the 1,200-unit chain, rechristened Boston Market in 1995 to reflect a broader menu, into bankruptcy. —Industry veteran Lane Cardwell Jr. has been named president and chief executive of
McDonald’s Corp. in 2000 bought Boston Market, then at about 860 units, for $173.5 million, and sold the chain seven years later to private-equity firm Sun Capital, which also has ownership stakes in Fazoli’s, Bruegger’s and Friendly’s. In the past two years, Boston Market’s unit count has fallen by another 100 restaurants. — [email protected] —Industry veteran Lane Cardwell Jr. has been named president and chief executive of