The Big News April 2007
Outback president resigns
Returns to Mexican Restaurants, Inc. as CEO
After less than four months on the job, Curt Glowacki resigned on March 30th as president of the 953-unit Outback Steakhouse chain for personal reasons, parent company OSI Restaurant Partners Inc. said late Friday.
Paul Avery, OSI's chief operating officer, will resume the role of Outback president, which he held on an interim basis prior to Glowacki's appointment in early December.
Outback has suffered from a sales slump during the past two years, like many of its casual-dining peers. For the four weeks ended Feb. 24, the latest available reporting period, same-store sales at Outback declined 1.3 percent.
Parent company OSI, which operates or franchises a total of 1,429 restaurants under eight brands, is expected to go private late next month if its pending $3.63-billion buyout is approved by shareholders.
The Board of Directors of Mexican Restaurants, Inc. announced on April 4th that Curt Glowacki has rejoined the Company and has been appointed President, Chief Executive Officer effective immediately. Mr. Glowacki succeeds Lou Neeb, who served as interim CEO. Mr. Neeb will continue to serve as the Company’s non executive chairman.
“We are delighted that Curt has decided to return to the MRI family. Curt was instrumental over the last 20 years in transforming our organization into a world-class organization, and a growth company. His insights, leadership, and strategic vision will be critical as the organization now positions itself to expand and grow its concepts”, stated Lou Neeb on behalf of the Board.
“MRI was a labor of love and it is an honor to be afforded the opportunity to once again lead this great organization. We enjoyed tremendous successes in the past, and I am incredibly excited about working with the employees, its leadership team, and the Board in achieving our growth strategies for the future and in creating shareholder value”, said Mr. Glowacki.
