Pei Wei Announces New Chief Executive Officer

SCOTTSDALE, Ariz.--()--Wok HoldCo LLC, the owner of leading Asian restaurant companies P.F. Chang’s and Pei Wei, today announced the appointment of Ralph Bower as the new Chief Executive Officer of Pei Wei, its fast casual brand.

“We are excited to have Ralph join our executive team as the CEO of Pei Wei. He brings a wealth of experience to the organization and has demonstrated success in leading business transformation that generates positive momentum and growth,” said Rick Federico, Chairman of the Board and CEO of Wok HoldCo LLC.

Mr. Bower joins Pei Wei from Popeyes Louisiana Kitchen, where he served as President U.S., responsible for all domestic operations, new store development, franchisee support and business analytics for over 1,750 company-owned and franchised locations. In this role, he was an integral member of the leadership team responsible for developing and executing a comprehensive turnaround and growth strategy for the business. A veteran of the food industry, Mr. Bower has over 20 years of senior operating experience including YUM! Brands and Domino’s Pizza after starting his career in the U.S. Navy. He will be based in Scottsdale, Arizona and will start on August 18, 2014.

“I’ve long admired the Pei Wei brand and see tremendous growth opportunity for the entire organization. I have always had a love for brands with superior food and I look forward to working with the terrific Pei Wei management team to serve our passionate customers,” said Mr. Bower. “I’m honored to partner with Rick, the Pei Wei team and Centerbridge Partners to grow this great business.”

About Wok HoldCo LLC

Wok HoldCo LLC is a multi-brand restaurant holding company that owns and operates P.F. Chang’s, Pei Wei and holds a majority interest in True Food Kitchen. The company was formed in 2012 by its majority owner, Centerbridge Partners, L.P., a private investment firm with approximately $20 billion of capital under management. For more information on the Company, please visit the website at www.pfcb.com.

About Pei Wei

Pei Wei is a leading fast casual restaurant brand that offers a menu of fresh, high-quality Asian cuisine featuring bright, flavorful hand-cut ingredients and freshly prepared, wok'd-to-order dishes. Pei Wei owns and operates 192 domestic restaurant locations located in 24 states and the District of Columbia and licenses the Pei Wei brand for use by partner restaurant operators in airport and international locations.

Contacts

For Wok HoldCo LLC
Allison Schulder, 480-888-3000
allison.schulder@pfcb.com

Contacts

For Wok HoldCo LLC
Allison Schulder, 480-888-3000
allison.schulder@pfcb.com