Retail
Friendly Ice Cream CEO Departs
TSC Staff
09/28/06 - 01:01 PM EDT
Friendly Ice Cream(FRN Quote) President and Chief Executive John L. Cutter has resigned to pursue other interests.
Chairman Donald N. Smith is assuming oversight responsibilities on a temporary basis as the company seeks a replacement, the family restaurant operator said in a press release.
Cutter has been the company's chief executive and president since February 2003.
"The Board and I appreciate John's many contributions to the company and wish him well," Smith said.
Shares of Friendly were recently off 18 cents to $10.02