Exhibit 99.1
Contact: Richard A. Peabody
Vice President and
Chief Financial Officer
(214) 343-7812
ROMACORP, INC. ANNOUNCES MANAGEMENT CHANGES
Dallas, Texas, June 8, 2000 Romacorp, Inc. today announced that Robert
B. Page is no longer employed as President and Chief Executive Officer of
the Company. The Company also announced that Richard A. Peabody, Vice
President, Finance and Chief Financial Officer has been appointed Acting
President by the Board of Directors and that a search for a new CEO has
been initiated.
David Lobel, chairman of the board, stated "We continue to be excited about
the opportunities that exist for the Tony Roma's brand. We are confident
that Richard Peabody and the management team at Romacorp will successfully
guide the Company during the coming weeks as we seek to identify a new
leader for the organization."
Romacorp, Inc. operates and franchises Tony Roma's restaurants, the world's
largest casual dining restaurant chain specializing in ribs. The Company
operates 60 restaurants and franchises 168 restaurants in 28 states and 20
foreign countries and territories.
Forward-Looking Comments
Statements which are not historical facts contained herein are forward
looking statements that involve estimates, risks and uncertainties,
including but not limited to: consumer demand and market acceptance risk;
the level of and the effectiveness of marketing campaigns by the Company;
training and retention of skilled management and other restaurant
personnel; the Company's ability to locate and secure acceptable restaurant
sites; the effect of economic conditions, including interest rate
fluctuations, the impact of competing restaurants and concepts, new product
introductions, product mix and pricing, the cost of commodities and other
food products, labor shortages and costs and other risks detailed in
filings with the Securities and Exchange Commission.
