AUSTIN, Texas, Oct. 28, 2013 (GLOBE NEWSWIRE) -- Chuy's Holdings, Inc. (Nasdaq:CHUY) today announced the following changes to its Board of Directors. These changes, which are effective immediately, comply with certain NASDAQ Marketplace Rules related to board of directors' independence ahead of the allowable phase-in period following the loss of controlled company status.
Jose "Joe" Ferreira, Jr. has resigned as Chairman of the Board of Directors, a title he has held since November 2006 when Goode Partners purchased Chuy's. Mr. Ferreira is a co-founder, partner and managing member of Goode Partners LLC.
Michael Stanley has resigned from the Company's Board. Mr. Stanley has served as a member of the Board since May 2011. Mr. Stanley is a Vice President at Goode Partners LLC.
- Michael Young and John Zapp have been appointed as Co-Chairmen of the Board of directors. Mr. Young and Mr. Zapp are co-founders of the Chuy's restaurant concept and have served as members of the Board since November 2006.
"It has been a privilege to serve as Chairman through an exciting period in the Company's history, which included the 2012 IPO, and I remain excited about Chuy's future," stated Joe Ferreira, former Chairman of Chuy's Holdings. "From day one, Chuy's has had a founder's driven culture, and as a result, I believe Mike and John are natural choices to assume leadership of the Board. Not only have they nourished Chuy's since its inception, but they have continued to play active roles as Board members in the maturation and growth of the business, with a focus on governance, culture club for new employees and assisting Steve Hislop and his team. Their in-depth knowledge of Chuy's and the restaurant industry ensure that the Company and its leadership remain in very good hands."
"John Zapp and I would like to thank Joe Ferreira and Mike Stanley for their contributions to Chuy's," said, Michael Young, Co-Chairman of Chuy's Holdings. "Joe, in his role as Chairman, has significantly furthered the vision of Chuy's potential and we are better positioned today because of his stewardship and guidance. It's an honor to step into this leadership role with John Zapp. From the very beginning, we were aware of this concept's potential. Under the capable leadership of our Chief Executive Officer Steve Hislop, and with the outstanding work of the entire Chuy's team, we have a strong foundation for future success."
Founded in Austin, Texas in 1982, Chuy's owns and operates 47 full-service restaurants across fourteen states serving a distinct menu of authentic, made from scratch Tex Mex inspired dishes. Chuy's highly flavorful and freshly prepared fare is served in a fun, eclectic and irreverent atmosphere, while each location offers a unique, "unchained" look and feel, as expressed by the concept's motto "If you've seen one Chuy's, you've seen one Chuy's!". For further information about Chuy's, including the nearest location, visit Chuy's website at www.chuys.com.
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