Staple Street Capital Announces Formation of Operating Executive Board
NEW YORK, February 6, 2014-- Staple Street Capital, LLC ("Staple Street Capital") announces the formation of its Operating Executive Board ("Board"), comprised of a select group of highly accomplished leaders that will provide the firm with guidance on its investment activities. The newly formed Board will augment Staple Street Capital's broader network of industry executives who help the firm identify and evaluate new investment opportunities, and provide value added resources to increase growth and profitability in its portfolio companies.
The Operating Executive Board will include:
William E. Kennard - former U.S. Ambassador to the European Union and former chairman of the U.S. Federal Communications Commission;
Jon L. Luther - former chairman and CEO of Dunkin' Brands and immediate past chairman of the International Franchise Association; and
Scott T. Parker - current CFO of CIT Group, former COO and CFO of Cerberus Operations and Advisory Company and former CFO of GE Capital Solutions
Steve Owens and Hootan Yaghoobzadeh, co‐founders of Staple Street Capital, said "The formation of the Operating Executive Board signifies our long-standing commitment to bring industry-leading best practices to our investment activities. We have known Ambassador Kennard, Jon, and Scott for many years and are proud to welcome them to our Operating Executive Board. They are distinguished leaders across a variety of industries and will bring invaluable insights and relationships to Staple Street Capital and its portfolio companies."
About the Operating Executive Board Members
William E. Kennard is an Operating Executive Board member principally focused on the communications and media sectors and other regulated industries. Ambassador Kennard was the United States' Ambassador to the European Union from 2009-2013 where he worked actively to promote transatlantic trade and investment and to eliminate regulatory barriers to commerce. Before his appointment as U.S. Ambassador to the EU, Ambassador Kennard was Managing Director of The Carlyle Group where he led investments in the communications and media sectors. Prior to joining The Carlyle Group, Ambassador Kennard served as chairman of the U.S. Federal Communications Commission ("FCC"). As FCC Chairman, Ambassador Kennard shaped policies that created an explosion of new wireless phones, brought the Internet to a majority of American households, and resulted in billions of dollars of investment in new broadband technologies. Ambassador Kennard currently serves on the board of directors of Duke Energy (NYSE: DUK) and MetLife (NYSE: MET) and previously served on the boards of The New York Times Company, Sprint Nextel Corporation and on the boards of several companies owned by The Carlyle Group. Ambassador Kennard is a graduate of Stanford University and Yale Law School.
Jon L. Luther is an Operating Executive Board member principally focused on the consumer and retail sectors. Mr. Luther previously served as chief executive officer of Dunkin' Brands from 2003-2010 and as its chairman from 2010-2013, where he led the transformation, revitalization and global expansion of two iconic brands -- Dunkin' Donuts and Baskin-Robbins. Prior to joining Dunkin' Brands, Mr. Luther was president of Popeye's Chicken & Biscuits, president of CA One Services and held leadership positions in the contract foodservice division of the Marriott Corporation, at ARAMARK and at Benchmark Services.
Mr. Luther currently serves as lead director at Six Flags Entertainment Corporation (NYSE: SIX), as chairman of Arby's Restaurant Group, Inc. and as a member of the board of Brinker International (NYSE: EAT). He is vice chairman of the board of trustees of the Culinary Institute of America and the immediate past chairman of the International Franchise Association. Mr. Luther holds a degree in hotel and restaurant management from Paul Smith's College.
Scott T. Parker is an Operating Executive Board member principally focused on the industrial and financial services sectors. Mr. Parker currently serves as the Executive Vice President and Chief Financial Officer for CIT Group Inc. where he is responsible for overseeing all financial operations. Before joining CIT, Mr. Parker served as Chief Operating Officer and Chief Financial Officer of Cerberus Operations and Advisory Company, a Cerberus affiliate which consists of over 100 industry executives who serve as directors or operating executives of Cerberus' portfolio companies and help optimize the performance of Cerberus' portfolio companies. Prior to joining Cerberus in 2006, Mr. Parker spent 17 years in various financial leadership roles within the industrial and financial services businesses at General Electric Company, most recently as the Chief Financial Officer for GE Capital Solutions. Prior to GE Capital Solutions, Mr. Parker was Chief Financial Officer of GE Corporate Financial Services. Mr. Parker received a BS in Agricultural Economics (Business Management and Marketing) from Cornell University.
About Staple Street Capital
Staple Street Capital is a New York based private equity firm that invests in attractive middle market companies where there are compelling operational, financial or strategic opportunities to create value. Staple Street Capital focuses on complex situations where the firm's investment experience, capital and a network of world-class management talent can be utilized to facilitate improved performance. Staple Street Capital typically targets companies with revenues between $50 million to $400 million across a variety of industries, including: consumer/retail, distribution, business services, niche manufacturing, media and communications, financial services and energy. For more information, please visit www.staplestreetcapital.com.
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