wabuffo Posted August 26, 2009 Share Posted August 26, 2009 http://www.sec.gov/Archives/edgar/data/93859/000009385909000053/form8k82609.htm "On August 25, 2009, Omar Janjua, Executive Vice President and Chief Operating Officer, announced his resignation effective September 5, 2009." Hmmm..... wabuffo Link to comment Share on other sites More sharing options...
ragnarisapirate Posted August 26, 2009 Share Posted August 26, 2009 Why is a departing member of management/board a surprise? As long as he isn't departing over any fraud related issue, to hell with him. Link to comment Share on other sites More sharing options...
Parsad Posted August 26, 2009 Share Posted August 26, 2009 Well, I don't think there is any reason to assume "Hmmm" or "to hell with him". Perhaps, we can view the event somewhere down the middle. - First, we don't know what the reason is. It could be something personal, thus the resignation. - Second, it's not like Sardar can't run this thing himself. He turned it around when it was running like shi*! - Third, exactly how easy is it to find someone to run something, and how hard is it to find the perfect guy? Buffett went through this often during his partnership days and early Berkshire days. Just a couple of weeks ago, Rich Santulli suddenly resigned, and he was one of the guys many people predicted may run the entire company one day. Theories and speculation never lead to good investment decisions or analysis. Cheers! Link to comment Share on other sites More sharing options...
scottyjukebox Posted August 27, 2009 Share Posted August 27, 2009 Well with out knowing any of the facts im sorry to see him go.. He was really one of the keys to turning things around at SNS. He was very hands on operational guy..but i must also say i think he is probably about the last of the executives to go that really had a connection with the previous board and management. Link to comment Share on other sites More sharing options...
dcollon Posted August 28, 2009 Share Posted August 28, 2009 I know they have been interviewing people for various positions including VP of Research & Development, but haven't heard of anything related to the COO role. I guess we just wait and see. Link to comment Share on other sites More sharing options...
bookie71 Posted August 28, 2009 Share Posted August 28, 2009 In any company, people come and go. They may have had a much better offer or a better chance to grow. Unless there was a major disagreement, I see no reason to get upset, wish them luck and find someone else. I have watched one of our local banks (which is extremely successful) have good people leave and try their own business, go to another bank etc, and eventually return to their old job or a better one. They become some of the banks greatest cheer leaders. Link to comment Share on other sites More sharing options...
KFRCanuk Posted September 8, 2009 Share Posted September 8, 2009 Well, he ended up at Sonic http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090908006621&newsLang=en OKLAHOMA CITY--(BUSINESS WIRE)--Sonic Corp. (NASDAQ: SONC), the nation's largest chain of drive-in restaurants, today announced that Omar Janjua has joined the Company as President of its restaurant operating subsidiary, Sonic Restaurants, Inc. ("SRI"). Janjua was previously Executive Vice President and Chief Operating Officer for Steak 'n Shake Company, where he reported to the Chief Executive Officer and was responsible for the operations of 490 system restaurants with annual revenues of approximately $700 million. While with Steak 'n Shake, Janjua successfully developed and integrated programs to drive service execution and enhance personnel development, and also worked with senior leadership to plan and implement a financial turnaround plan. Prior to joining Steak 'n Shake, he worked for 18 years with Pizza Hut, Inc. in various positions of increasing responsibility, lastly as Vice President of company operations overseeing 817 restaurants with annual revenues in excess of $800 million. Janjua's 28-year restaurant career also includes experience at other national quick-service chains. Janjua holds a Masters of Business Administration degree from Minnesota State University and is a graduate of Georgia Institute of Technology with a major in Operations Management. Link to comment Share on other sites More sharing options...
link01 Posted September 8, 2009 Share Posted September 8, 2009 Well, he ended up at Sonic i wonder whether sonic 'poached' him Link to comment Share on other sites More sharing options...
Parsad Posted September 8, 2009 Share Posted September 8, 2009 They could probably use him at Burger King or Wendys! Cheers! Link to comment Share on other sites More sharing options...
rogermunibond Posted September 9, 2009 Share Posted September 9, 2009 <<i wonder whether sonic 'poached' him>> Why not a fifth column? It wouldn't be surprising if Janjua's appointment somehow facilitates a corporate action between SNS and SONC in the next several years. Link to comment Share on other sites More sharing options...
ragnarisapirate Posted September 9, 2009 Share Posted September 9, 2009 <<i wonder whether sonic 'poached' him>> Why not a fifth column? It wouldn't be surprising if Janjua's appointment somehow facilitates a corporate action between SNS and SONC in the next several years. That is prolly the only event that could make Sardar's quick rise more surreal... a fifth column!? That is the sort of thing that the Soviets aimed for! I suppose that while it would be shocking we shouldn't completely rule it out- who would of thought 2 years ago, that Biglari would have, (let alone, could have), taken over SNS and turned it into what seems to be a money printing machine (basically in a years time, too)? Furthermore, who would have thought that he would take over a quarter of a billion dollar company as soon as he did, when he started buying up WEST? I wonder how big the next takeover will be? I say, jestfully, that Sonic is only a hair over 2x the size of SNS. Link to comment Share on other sites More sharing options...
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