Wray Newsletter Masthead
"Only when the tide goes out do you discover who's been swimming naked. "
- Warren Buffett

"You miss 100 percent of the shots you don't take." 
-  Wayne Gretzky

Executive Movements

Applebee's President Steven Layt has resigned from his position, effective Friday, according to the casual-dining brand's parent company, DineEquity.
Full Article 

The Coffee Bean & Tea Leaf announced the appointment of John Fuller as the new President and Chief Executive Officer.
Full Article 

Arby's Restaurant Group, Inc. Appoints Greg Vojnovic Chief Development Officer.
Full Article 

Farmer Boys Names Larry Rusinko Chief Marketing Officer.
Full Article 

Newk's Eatery Welcomes Robert Nygren the brand's new Chief Financial Officer.
Full Article 

Smokey Bones announced the appointment of Ryan Esko as Chairman, President, and Chief Executive Officer, effective immediately.
Full Article 

More Executive Movements 

Financial Overview

Zos Kitchen Second Quarter 2015 Total Revenue Increased 30.0%. Full Article 

Jamba, Inc. reported unaudited financial results for the second fiscal quarter ended June 30, 2015.  Full Article 

Popeyes Louisiana Kitchen, Inc. Reports Results for Second Quarter 2015.  Full Article 

Ignite Restaurant Group Reports Second Quarter 2015 Financial Results. Full Article 

Jack in the Box Inc. Reports Third Quarter FY 2015 Earnings.
Full Article 

Brinker International Reports Year-Over-Year Increases In Fourth Quarter 2015 And Full Fiscal Year EPS.  Full Article 

Ruth's Hospitality Group, Inc. Reports Second Quarter 2015 Restaurant Sales Growth of 10%.  Full Article 

More Financial News 


Restaurant Industry on Track to Positive Same-Store Sales During Q3


TDn2K's Restaurant Industry Snapshot for August reveals: same-store sales growth was +1.7%, year-to-date same-store sales growth of +2.2% and jobs growth of 4.4% year-over-year. Data based on 22,000 restaurant units, one million employees and $55 billion in annual sales revenue.   Full Article  

Financials Too
Hopes for Subway 2.0
by John A. Gordon, principal and founder of Pacific Management Consulting Group

John Gordon
By now, some news of Subway Version 2.0-it's hoped for rebirth and revival-- are available via the New York Post Monday article on August 30, 2015:
All of us in the restaurant space knew it was coming eventually, and wish the world's largest restaurant chain well. Still, there are several lessons seen in the Subway experience to date-and not coincidently McDonald's, too-- that hit the momentum wall at approximately the same time in the US (McDonald's problems in certain world markets like Japan were building for years). Here is a list of observations to speed the revival process along: 
 Full Article  
Preventing the Dreaded Bad Hire
by Bob Gershberg, CEO/Managing Partner Wray Executive Search
Bob Gershberg

Most organizations have a clear handle on cost-of-hire metrics and its related variables. According to Brandon Hall Group's 2015 talent acquisition study, 95% of organizations admit to making bad hires but few have a clear understanding of the cost of a bad hire. A recent Career Builder survey indicates a bad hire cost of $50,000. SHRM estimates the cost of replacing management personnel to be from 50% to several hundred percent of the bad hire's salary. Needless to say, the higher the position, the higher the cost of the bad hire. One thing is certain, the cost of a bad hire is significantly more than the cost of hiring the right person. And the ROI for picking the right person, is often extraordinary.   
Women In Leadership - The Alarm Continues To Sound

Kathleen Taylor-Gadsby
As I was browsing through my Google alerts on leadership development, I ran across two separate articles on women in leadership that came out last week. Both articles sounded the alarm regarding the dearth of women in top leadership jobs in both the public and private sector. Indeed, according to a recent study by the American Management Association (AMA), the percent of women in Fortune 500 CEO roles is at an all-time high of 4.8% (up from 4.2% in 2013). Frankly, this is shameful, given that women make up 50.8% of the population and 57% of the workforce. 
 Full Article  
Biscuit Is Found!
An Incredible Ending to an Impossible Search
by Rebecca Patt, SVP Development, Wray Executive Search
Rebecca Patt

As an executive recruiter, I am fierce in helping my clients solve their most difficult recruiting challenges. I've spent my 12-year career developing the best strategies to find the most sought-after senior executives for top companies across the nation. While I've completed many tough assignments, I never imagined that I would need to use all my searching skills and fortitude to look for something so close and dear to my own heart: Biscuit.   Full Article 
Financial Edge
Talent Mapping, the new buzz word in the Board Room
by David Ulrich, EVP Wray Executive Search
David Ulrich

A new buzz word has arrived in Board Room and Executive Suites these days, the latest twist on an old term we all know as Succession Planning. This latest craze combines the identification of talent within the ranks and a variety of profile testing tools and business intelligence tools, along with an applicant tracking tool, to support and connect the dots of an employees' progress throughout their tenure with a company. Full Article 
Talent Matters
Thinking of Upgrading Talent by Hiring a Superstar?
by Tom Rollert, Vice President of Culture Integration Wray Executive Search
Tom Rollert

The supply of talented individuals, many of whom were cultivated and trained by some of the world's most innovative and productive companies, has never been so plentiful or affordable. A number of our clients are seizing this opportunity to bring superstars on board. Throughout the last 35+ years we have learned from our clients' experiences, and we have summarized five key lessons to help optimize the upgrading process: Full Article 

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