Dive Brief:
- Following its recent restructuring efforts stemming from a Chapter 11 bankruptcy protection filing this summer, California Pizza Kitchen on Tuesday named Judd Tirnauer its new CFO.
- Tirnauer will lead CPK's financial restructuring strategy, focus on growth opportunities, and oversee the accounting and finance teams, the company said in a statement.
- "What attracted me to CPK was the opportunity to be a part of the re-emergence of a well-known brand and be on the team that is steering it to its next phase of growth," Tirnauer told CFO Dive in an emailed statement. "Post-restructuring, the company has amazing momentum; it's a really exciting time.
Dive Insight:
Tirnauer brings over 25 years of finance and strategic planning leadership experience, mainly in the restaurant and retail business. He arrives from the CFO post at Black Angus Steakhouse. Before that, he was CFO at fashion retailer Wet Seal, and of Real Mex Restaurants, parent company of El Torito, Chevy's Fresh Mex and other Mexican food chains.
"With his proven track record in finance with both public and private equity brands, we are confident in Judd's expertise and ability to lead CPK's financial strategy and build on the Company's business momentum," CPK CEO Jim Hyatt said.
"I'm excited to be joining such an iconic brand and look forward to working with Jim and the executive team on charting CPK's future growth," Tirnauer said.
CPK's global footprint includes more than more than 200 restaurants in 8 countries and U.S. territories.
In November, the chain announced it had completed a financial restructuring process following its June file for Chapter 11 bankruptcy protection, Restaurant Dive reported. It completed a debt-for-equity transaction that cut its debt by over $220 million and upped its liquidity.
Currently, it is focused on menu innovation, expanding its global franchise footprint and investing in marketing and digital channels, including off-premises channels, Hyatt said, according to Food Business News.
