For Immediate Release Toronto Stock Exchange: BPF.UN
MIKE CORDOBA TO STEP DOWN AS CHIEF EXECUTIVE OFFICER OF BOSTON PIZZA INTERNATIONAL INC.
VANCOUVER, BC, August 7, 2008 - Boston Pizza International Inc. (“BPI”) announced today that Mike Cordoba will step down as Chief Executive Officer of BPI and will be leaving the company as of December 31, 2008. In conjunction with his departure, Mr. Cordoba will also resign as Director and CEO of Boston Pizza GP Inc., Managing General Partner of Boston Pizza Royalties Limited Partnership (“BPRLP”), administrator of the Boston Pizza Royalties Income Fund (the “Fund” TSX: BPF.UN).
Mike Cordoba joined BPI in 1993 and has held several senior roles within the organization including Executive Vice President, President and Chief Operating Officer. He has also been a Director of Boston Pizza GP Inc. since its inception in 2002.
“Mike has made significant contributions during his 15 years with BPI including his leadership role in having Boston Pizza International consistently recognized since 1994 as one of “Canada’s 50 Best Managed Private Companies” and in 2007 as one of “Canada’s 10 Most Admired Corporate Cultures”. Mike’s greatest achievement has been building an outstanding senior management team and working together with them to make Boston Pizza Canada’s #1 casual dining brand with more than 300 locations coast-to-coast” said BPI’s Co-chairman and Owner, George Melville. “On behalf of the Board, I want to thank Mike for his vision and commitment and wish him all the best in his future endeavours“.
Following Mr. Cordoba’s departure, BPI’s Chairmen and Owners, Jim Treliving and George Melville, will be working more closely with the senior management team at BPI while continuing to oversee the company’s strategic management. In addition, George Melville will replace Mike Cordoba as a Director of Boston Pizza GP Inc. joining BPI’s Chief Financial Officer Mark Powell as BPI’s representatives on the Board. BPI currently holds a 12% interest in the Fund indirectly through its interest in BPRLP.
FOR FURTHER INFORMATION PLEASE CONTACT:
Boston Pizza Royalties Income Fund
Jordan Holm - Vice President of Investor Relations
Tel: 604-303-6083
investorrelations(at)bostonpizza.com
www.bpincomefund.com
® Boston Pizza Royalties Limited Partnership. All Boston Pizza registered Canadian trade-marks and unregistered Canadian trade-marks containing the words "Boston", "BP", and/or "Pizza" are trade-marks owned by the Boston Pizza Royalties Limited Partnership and licensed by the Boston Pizza Royalties Limited Partnership to Boston Pizza International Inc.
© Boston Pizza International Inc. 2008