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Rita’s CEO Jeff Moody steps down

Mike Lorelli named interim CEO

Rita’s Franchise Company on Wednesday said that Jeff Moody has stepped down as CEO, effective Feb. 10.

Mike Lorelli, current member of Rita’s board of directors and a former CEO at Pizza Hut, has been named interim CEO until a permanent replacement is found.

Moody, a longtime industry veteran, has been the chief executive of the 600-unit, Trevose, Penn.-based Italian ice chain since 2013. He has decided to “semi-retire” to dedicate more time to family and not-for-profit work.

The company said in a release that Moody will continue on as an advisor to the company.

This is the second go-round as interim CEO for Lorelli, who was named the interim in 2013 before Moody was brought on to Rita’s. Lorelli was also the executive chairman at the time.

Rita’s was founded in 1984 and is the country’s largest Italian ice concept. The company has locations in the Philippines, Canada and the Middle East, as well as the U.S.

The private-equity firm Falconhead Capital bought the chain in 2011 and refinanced the company in 2015.

Contact Jonathan Maze at [email protected]

Follow him on Twitter at @jonathanmaze

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