Oct. 30, 2013
Veteran finance and operating executive Michael W. Kramer has joined Kansas City, Mo.-based Spin! Neapolitan Pizza as a partner.
Prior to joining Spin!, Kramer served as CFO of Apple Retail, Abercrombie & Fitch, and Einstein/Noah Bagel; CEO and President of Kellwood and, most recently, COO of JC Penney. Earlier in his career, he served in financial leadership roles for PepsiCo/Pizza Hut and Gateway. He was named 2009 Entrepreneur of the Year for Missouri by the Business and Advisory Council.
Kramer's new position as an equity partner in Spin! reunites him with founders Gail and Richard Lozoff, and Edwin Brownell, who also helped develop Bagel & Bagel, which later became Einstein Bros. Bagels.
"I stayed in touch with Ed over the years and watched Spin! evolve," Kramer said. "Over the years, I have worked with some amazing creative and operational talent. I have to say, Ed and Gail are some of the very best in their respective areas. As I was thinking about investing in Spin!, conversations turned to the possibility of me joining them operationally as well as from an ownership perspective. I love working with Gail and Ed and look forward to building Spin! to the next level with them."
In his position as a partner in Spin! Concepts Inc., Kramer, a certified public accountant, will be responsible for financial operations and strategy including finance, supply chain, human resources and franchise operations.
Spin! currently has two franchisees. Hofman Hospitality Group plans to open 37 units throughout Southern California during the next 10 years. Parker Hospitality Group has an agreement to open five restaurants in 7 years in the San Francisco Bay Area's San Mateo County with an option to open another five in Santa Clara County.
Kramer said the company's plan is to find additional experienced operators to franchise.
"I think Spin! is a great candidate for national rollout but we want to take our time and do it right. We are not going to rush the evolution of the brand," he said.
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