In his new position, Allen will be responsible for all of the Company's design and construction activities for new company-operated and franchised restaurants, and for the "Project RevO'Lution" and "Dressed to the Nines" re-branding initiatives.
Prior to joining O'Charley's, Allen, age 55, was senior vice president at Forrester Construction in Rockville, Md., where he was responsible for all construction operations and reported directly to the president. Previously, he was vice president design and construction for HMSHost in Bethesda, Md., the world's largest developer and operator of food and beverage facilities in airports and toll roads. Prior to that he held similar positions with Marriott International and Sodexho Marriott Services. Allen has received a number of industry awards for excellence, including the American Building Congress Excellence in Construction Award and the President's Award for Outstanding Achievement and Contribution to Education Services. He earned a bachelor of architecture degree from the University of Tennessee in Knoxville.
"Jay is the consummate professional with a 20-year record of success in development, planning and construction management in the restaurant and hospitality industries," said Gregory L. Burns, O'Charley's Inc. chairman and chief executive officer. "His primary focus will be on establishing best practices and policies for design and construction that will maximize capital efficiency and drive performance. He has successfully developed four design and construction departments from the ground up during his career, experience that will be invaluable to our re-branding and new restaurant development efforts."
Consistent with the Company's philosophy of aligning the interests of its management with those of its shareholders, the Company has granted Allen restricted stock awards for an aggregate of 5,000 shares of the Company's common stock that will vest ratably over three years. These awards constitute inducement awards under NASDAQ Marketplace Rule 4350.
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