Saed Mohseni has been tapped to be the next president and CEO of Bob Evans Farms Inc., the company said Tuesday.
The former Bravo Brio Restaurant Group CEO, who resigned from that position last week, replaces former Bob Evans CEO Steve Davis. Davis stepped down nearly a year ago after shareholders elected four directors nominated by activist investor Sandell Asset Management.
"Saed Mohseni brings dynamic leadership to Bob Evans, and a notable track record as a restaurant operator with an intense focus on raising the quality of the overall guest experience," said Doug Benham, chair of the Bob Evans board of directors. "The CEO Search Committee conducted a careful, extensive review over many months and the Board unanimously concluded that Saed was the right person to lead Bob Evans in fulfilling its potential. His energy, the depth of his knowledge of all aspects of the industry, and his ability to lead a team to perform at a higher level made him the standout candidate. We look forward to his joining us in January 2016."
"Bob Evans is an iconic brand with a long track record of providing its restaurant guests with farm fresh food and outstanding service, while building a successful and expanding foods business," Mohseni said. "I look forward to working with the dedicated people of Bob Evans to build on this foundation, providing an excellent experience for our guests, and opportunity for our employees, while sustainably improving margins and creating value for its shareholders."
This appointment would end a yearlong search for a chief executive amid a period of major change for the family-dining chain that also operates a packaged foods business. Chief financial officer Mark Hood and Mike Townsley, president of the BEF Foods packaged foods division, have overseen the company in the months since the former CEO resigned.
In August, board member and former Arby’s CEO Doug Benham was named Bob Evans executive chairman, a new position.
Bob Evans has been cutting costs, including layoffs, and in September it said it would pursue a $200 million sale-leaseback of owned restaurant properties. It completed a $51.6 million sale-leaseback deal for two industrial properties last month.
Bob Evans has also indicated that it is open to a sale of its BEF Foods division, something Sandell had pushed for, but which the company has generally resisted.
“Things are changing at Bob Evans,” Hood said during a conference call in June.
The chain has been under pressure to cut costs and boost shareholder value for well over a year, since the proxy fight gave Sandell considerable influence in the boardroom. Same-store sales fell 0.3 percent in the company’s first fiscal 2016 quarter ended July 24.
Mohseni led Bravo Brio Restaurant Group, which operates Bravo Cucina Italiana and Brio Tuscan Grille, since Feb. 2007 and led the company through its 2010 initial public offering. His resignation there is to be effective Dec. 28.
“Bob Evans is an iconic brand with a long track record of providing its restaurant guests with farm fresh food and outstanding service, while building a successful and expanding foods business,” 53-year-old Mohseni said in a statement. “I look forward to working with the dedicated people of Bob Evans to build on this foundation, providing an excellent experience for our guests, and opportunity for our employees while sustainably improving margins and creating value for its shareholders.”
Contact Jonathan Maze at [email protected]
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