• Pizza Inn settles with Parker, former CEO, for $2.8 million

    Tags: Pizza Inn
LOUISVILLE, Ky. — Ronald Parker, former chief executive of Pizza Inn, will receive $2.8 million as part of a settlement with the chain he led for two tumultuous years.
 
Parker was fired from Pizza Inn in 2004 after the 378-store chain determined he'd violated his employment agreement when he and three other executives penned labor contracts containing parachute payouts that, if triggered, could have bankrupted the chain. (Read Pizza Inn officially fires Parker, but lawsuit is expected.)
 
Parker said the termination was without cause and sued the company for about $11 million, a sum that included a $5.4 million parachute payment set out in his contract. (Read Pizza Inn fights back.)
 
"I'm very pleased with this settlement," Parker said in a news release. "I wish Pizza Inn future success and I'm looking forward to the next chapter of my business life."
 
Tim Taft, Pizza Inn's current chief executive and president, called the settlement a chance for the company to move ahead and focus on revitalizing the company.
 
"We get to rip the rearview mirror off and close that chapter and move forward," Taft said.
 
Read also:

Related Content

User Comments – Give us your opinion!
Products & Services

AquaCafe

http://global.networldalliance.com/new/images/products/6965.png

6965/AquaCafe

Food Cost Management

http://global.networldalliance.com/new/images/products/6401.png

6401/Food-Cost-Management

MVR Reports

http://global.networldalliance.com/new/images/products/MVR_Report_iix.gif

1252/MVR-Reports

Customized Menu Board Content

http://global.networldalliance.com/new/images/products/6689.png

6689/Customized-Menu-Board-Content

iiX Custom Points Program

http://global.networldalliance.com/new/images/products/custompoints.gif

1423/iiX-Custom-Points-Program

Granbury Websites

http://global.networldalliance.com/new/images/products/6815.png

6815/Granbury-Websites

PeopleMatter HIREā„¢

http://global.networldalliance.com/new/images/products/4625.png

4625/PeopleMatter-HIRE

DriverAdvisor Fleet Monitoring

http://global.networldalliance.com/new/images/products/DriverAdvisor_iix.gif

1425/DriverAdvisor-Fleet-Monitoring

DriverSafe

http://global.networldalliance.com/new/images/products/keyboard_iix.gif

1424/DriverSafe

Quad Core Menu Board Media Player - $199

http://global.networldalliance.com/new/images/products/6679.png

6679/Quad-Core-Menu-Board-Media-Player-199

Fast Casual Executive Summit
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.