GLENDALE, CA, Apr 16, 2008 (MARKET WIRE via COMTEX News Network) -- IHOP Restaurants ("the Company") today announced the appointment of
Michael Mendelsohn to the position of vice president, finance.
Mendelsohn, as a member of the IHOP brand executive team, will
provide leadership for the Company's finance function including all
analytical and strategic support for the IHOP business unit as it
seeks to maximize financial performance.
Additionally, Mendelsohn will manage those accounting functions that
have a direct impact on the performance of the business unit. He
also has primary responsibility for ensuring the appropriate
financial and internal controls, along with achievement of the
financial milestones and objectives, for IHOP are met.
"We are excited to have a financial professional of Michael's caliber
join the IHOP brand," said Tom Conforti, IHOP Corp.'s chief financial
officer. "His experience and leadership skills will enable him to make
an immediate contribution to the IHOP business unit."
Mendelsohn most recently served as chief financial officer and
executive vice president, information technology for Teleflora LLC,
which provides products and services to its network of over 20,000
retail florists. In this role, he was responsible for all financial
and information technology activities including financial analysis,
credit and accounting. Previously, Mendelsohn held vice president
positions for Walt Disney Internet Group, including vice president,
business operations and vice president, finance and planning, where
he was responsible for improving the profitability of Disney's
internet business.
Mendelsohn earned a bachelor of arts in economics from The Johns
Hopkins University, and a masters in business administration from The
University of Chicago Graduate School of Business.
About IHOP Restaurants
Based in Glendale, California, International House of Pancakes (IHOP)
Restaurants is a wholly-owned subsidiary of IHOP Corp. (NYSE: IHP)
which through its subsidiaries franchises and operates restaurants
under the IHOP and Applebee's Neighborhood Grill & Bar brands. With
more than 3,300 restaurants combined, IHOP Corp. is the largest
full-service restaurant company in the world. IHOP Corp.'s common
stock is listed on the NYSE under the symbol "IHP." For more
information on IHOP Corp., visit the Company's Web site located at
www.ihop.com.
Forward-Looking Statements
There are forward-looking statements contained in this news release.
They use such words as "may," "will," "expect," "believe," "plan," or
other similar terminology, and include statements regarding the
strategic and financial benefits of the acquisition of Applebee's
International, Inc., expectations regarding integration and cost
savings, and other financial guidance. These statements involve known
and unknown risks, uncertainties and other factors, which may cause
the actual results to be materially different than those expressed or
implied in such statements. These factors include, but are not
limited to: the implementation of the Company's strategic growth
plan; the availability of suitable locations and terms for the sites
designated for development; the ability of franchise developers to
fulfill their commitments to build new restaurants in the numbers and
time frames covered by their development agreements; legislation and
government regulation including the ability to obtain satisfactory
regulatory approvals; risks associated with executing the Company's
strategic plan for Applebee's; risks associated with the Company's
incurrence of significant indebtedness to finance the acquisition;
the failure to realize the synergies and other perceived advantages
resulting from the acquisition; costs and potential litigation
associated with the acquisition; the ability to retain key personnel
after the acquisition; conditions beyond the Company's control such
as weather, natural disasters, disease outbreaks, epidemics or
pandemics impacting the Company's customers or food supplies or acts
of war or terrorism; availability and cost of materials and labor;
cost and availability of capital; competition; continuing acceptance
of the IHOP, International House of Pancakes and Applebee's brands
and concepts by guests and franchisees; the Company's overall
marketing, operational and financial performance; economic and
political conditions; adoption of new, or changes in, accounting
policies and practices; and other factors discussed from time to time
in the Company's news releases, public statements and/or filings with
the Securities and Exchange Commission, especially the "Risk Factors"
sections of Annual and Quarterly Reports on Forms 10-K and 10-Q, as
well as releases, statements and SEC filings by Applebee's
International, Inc. prior to its acquisition by the Company.
Forward-looking information is provided by IHOP Corp. pursuant to the
safe harbor established under the Private Securities Litigation
Reform Act of 1995 and should be evaluated in the context of these
factors. In addition, the Company disclaims any intent or obligation
to update these forward-looking statements.
Patrick Lenow
Director, Communications
IHOP Corp.
818-637-3629
SOURCE: IHOP Corp.
