FOR
IMMEDIATE RELEASE
Benihana
Inc. Announces the Retirement of CEO Joel A. Schwartz Restaurant Veteran Richard
C. Stockinger to Assume CEO Position
MIAMI,
FLORIDA, Feburary 10, 2009 — Benihana Inc. (NASDAQ: BNHNA; BNHN), operator
of the nation’s largest chain of Japanese theme and sushi restaurants, today
announced the retirement of Joel A. Schwartz as Chairman of the Board and Chief
Executive Officer of the Company. Effective immediately, Board member Richard C.
Stockinger, former President of The Patina Restaurant Group, LLC, will assume
the Chief Executive Officer position, Darwin C. Dornbush, a former director of
the Company, will become non-executive Chairman of the Board, and John E. Abdo,
a long time standing member of the Board, will become Vice
Chairman.
Mr.
Schwartz commented, “It has been a privilege to be with the Company as it has
grown to three chains, Benihana, RA Sushi and Haru, and over 100 restaurants
worldwide, but I look forward to spending more time with my family and on my
philanthropic activities. I am very pleased that Mr. Stockinger, a respected
industry veteran and a Benihana Board member, will succeed me. He understands
the value of the Benihana brands, and has all the skills necessary to be a
strong and effective leader of the Company.”
Mr.
Stockinger stated, “I am convinced that Benihana has all of the strengths to
weather and even thrive in the difficult environment it faces—outstanding brand
recognition for its core teppanyaki concept, exciting newer brands, RA Sushi and
Haru, which broaden the Company’s demographic appeal and geographic reach, and
most important, a hard working, energetic and dedicated employee base. I
couldn’t be more pleased with the opportunity and am fully confident that the
Company can meet the challenges it faces.”
Mr.
Stockinger joined the Board of Benihana Inc. in 2007 following a 25-year tenure
at The Patina Restaurant Group, LLC and its predecessor Restaurant Associates,
Inc. during which he served in various senior capacities, including from 2003 to
2008, as President. During that tenure he played a significant role in the
sales, acquisition and turnaround at California Pizza Kitchen, El Torito and Au
Bon Pain. Mr. Stockinger also serves on the Board of Directors of the National
Kidney Foundation of Greater New York.
Darwin C.
Dornbush is a founding partner of the New York law firm Dornbush, Schaeffer,
Strongin & Venaglia, LLP and has been practicing law at that law firm for
more than forty years. He was a director of the Company from 1995 to 2005 and
currently serves as a special consultant to the Company.
John E.
Abdo is Vice Chairman of BankAtlantic Bancorp and has been so for 25
years.
About
Benihana
Benihana
Inc. (Nasdaq: BNHNA - News) (Nasdaq: BNHN - News) operates 94 restaurants
nationwide, including 63 Benihana teppanyaki restaurants, nine Haru sushi
restaurants, and 22 RA Sushi Bar restaurants. Under development at present are
ten restaurants — five Benihana
teppanyaki restaurants and five RA Sushi restaurants. In addition, 20 franchised
Benihana teppanyaki restaurants are operating in the U.S., Latin America and the
Caribbean.
To learn
more about the Company and its three Japanese theme and sushi restaurant
concepts, please view the corporate video at www.benihana.com/about/video
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