The Detroit News:
Big Boy Restaurants International is taking steps to freshen its image, from revising its menu to searching for a new chief executive officer, following last month’s ouster of CEO Tony Michaels.
Michaels’ departure came as a surprise to industry observers who credit him with reviving the chain from bankruptcy after assuming leadership in 2000. His efforts toward retooling the brand were recognized last year by Nation’s Restaurant News, a dining industry trade magazine, for the company’s innovation and industry leadership.
“There’s an aggressive strategy in place to grow this company, and that’s what we’re implementing,” interim CEO Jim Jensen said. “Tony and management didn’t see eye to eye on that, and they parted ways.”
Possible initiatives include changing the menu, implementing drive-thru windows and developing the California market, where the restaurant is known as Bob’s Big Boy, Jensen said.
The leadership change comes at a time when Big Boy and the casual dining industry are trying to endure belt-tightening in family dining budgets. Many mid-priced family restaurants like Chili’s and Ruby Tuesday are suffering from a “trade-down effect,” as families opt for cheaper establishments such as Bob Evans and Denny’s, according to Stephen Anderson, an analyst with MKM Partners LLC in Greenwich, Conn. Read more.