Business
Rocky Mountain Chocolate Factory Names Food Industry Veteran Allen Arroyo As Chief Financial Officer
Brings Significant Franchising and Capital Markets ExperienceDURANGO, CO / ACCESSWIRE / July 21, 2022 / Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF)
About this update from Rocky Mountain Chocolate Factory, Inc.
[{"type":"text","content":"Brings Significant Franchising and Capital Markets ExperienceDURANGO, CO / ACCESSWIRE / July 21, 2022 / Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) (the \"Company\" or \"RMCF\"), an international franchiser and manufacturer of gourmet chocolates and other confectionary products, today announced the appointment of Allen Arroyo, a 30-year veteran financial executive in the food, restaurant and hospitality industries with expertise in franchising, systems and technology, and capital markets, as Chief Financial Officer (\"CFO\"), effective August 1, 2022. He succeeds Bryan J. Merryman, the Company's former Chief Financial Officer, who retired effective July 15th after 24 years of service with the Company.A highly accomplished CFO, Mr. Arroyo has extensive experience in corporate finance, strategy and operations within the food industry, including banking practices and financial transactions.\"Allen Arroyo is a perfect fit and brings an absolute breadth and wealth of skills to RMCF to help the Company's management and refreshed Board deliver superior stockholder value,\" said Chief Executive Officer Rob Sarlls. \"In addition to his comprehensive financial management expertise, he has achieved a dynamic and admirable track record with both public and private companies. Allen offers strong franchising experience. He also enjoys a successful track record of working with businesses and cultures that need professionalization, and companies that are poised to capture high growth. I look forward to his help delivering improvements in revenue, profits and productivity for RMCF,\" Mr. Sarlls said.\"In addition to meeting with members of the Company's refreshed Board, I also had the opportunity to meet with the management team at the Company's recent two-day strategy planning summit,\" noted Mr. Arroyo. \"It was a very impressive introduction to the management team. I am enthusiastic to join a company that embraces change to deliver superior value to all its key constituencies including shareholders, employees, business partners and, of course, consumers,\" he concluded.Mr. Arroyo began his career with IHOP (now Dine Brands Global, Inc. (NYSE:DIN)), where he spent 17 years leading a team directing SEC and financial reporting, risk management and internal controls. Subsequently, he served as CFO for several privately held and private e...