THE COLONY, Texas — Tim Taft, president and chief executive officer of Pizza Inn Inc., has notified the company that he has decided to resign as an officer and director effective immediately to "pursue other interests."
The company's board has appointed Charlie Morrison, Pizza Inn's current chief financial officer, as interim CEO.
Taft took the helm of the troubled pizza chain in 2005 at an initial salary of $1 a year. In February, Pizza Inn recorded its first quarterly profit since 2004.
Pizza Inn Inc. franchises approximately 360 restaurants, down from a high of 775 in the 1990s.