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Famous Brands announces new CEO, ownership change

July 3, 2013
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Famous Brands International, Broomfield, Colo., has appointed Neal Courtney CEO. He has been serving as the company’s interim CEO since February. Famous Brands is the parent company of Mrs. Fields Cookies and TCBY Yogurt.

“Since taking over as interim CEO, Neal has continued to be instrumental in creating a strong and stable foundation to support Famous Brands’ growth and success,” says James J. Zenni, chairman of Famous Brands International. “We are confident that Neal is the right person to help lead Famous Brands into the future and capitalize on the tremendous opportunities that the company has across all of its channels. We are extremely pleased to have someone with Neal’s caliber, experience and dedication leading the continued evolution of Famous Brands into one of the most successful and well recognized brands in the industry.”

Prior to his role as interim CEO, Courtney served as COO for Famous Brands International since May 2012. He has been on the Famous Brands team for more than eight years and has held roles in finance, sales, and general management.

“I am honored to be selected as the leader of the Famous Brands organization,” says Courtney. “We have made great strides during my time here, and we have many exciting opportunities for achievement and avenues to continue growing our business. I am looking forward to working with the rest of the talented management team at Famous Brands to continue building on our momentum to expand our brands around the world.”

Famous Brands International also announced that Z Capital Partners, its largest shareholder, has acquired the remaining minority ownership stake of the company from The Carlyle Group, making it the sole owner of Famous Brands.

Concurrent with this transaction, Famous Brands announced several changes to its board of directors. James J. Zenni, president and CEO of Z Capital, was named chairman of the board, and Homi Patel, operating partner at Z Capital, were appointed to the Famous Brands board. The company currently is evaluating candidates to fill the vacant seats.

Source: PRNewswire

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