Emeryville, Ca., USA - January 14, 2015, Emeryville, Ca., USA - Jamba, Inc., a retailer of freshly squeezed juice, announced that it has entered into an agreement to appoint James C. Pappas and Glenn W. Welling to its board of directors.
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Jamba also agreed that one current member of the Board would not be re-nominated to stand for election at the 2015 Annual Meeting.
Mr. Pappas will serve as a member of the Board’s Nominating and Corporate Governance Committee and as a member of the Audit Committee, and Mr. Welling will serve as a member of the Compensation and Executive Development Committee.
Mr. Pappas is the Managing Member of JCP Management and the sole member of JCP Holdings.
Mr. Pappas has served on the Board of Directors of The Pantry, Inc., an independently operated convenience store chain in the southeastern United States and one of the largest independently operated convenience store chains in the country, since March 2014.
Previously, Mr. Pappas served as Chairman of the Board of Directors of Morgan’s Foods, a then publicly traded company, from January 2013 until May 2014, when the company was acquired by Apex Restaurant Management, Inc.
Mr. Pappas joined the Board of Morgan’s Foods in February 2012, where he also served as Chairman of the Compensation and Leadership Committee.
From 2005 until 2007, he worked for The Goldman Sachs Group, Inc. in their Investment Banking / Leveraged Finance Division.
As part of the Goldman Sachs Leveraged Finance Group, Mr. Pappas advised private equity groups and corporations on appropriate leveraged buyout, recapitalization and refinancing alternatives.
Prior to Goldman Sachs, Mr. Pappas worked at Banc of America Securities, the investment banking arm of Bank of America where he focused on Consumer and Retail Investment Banking, providing advice on a wide range of transactions including mergers and acquisitions, financings, restructurings and buyside engagements.
Mr. Pappas received a BBA, and a Masters in Finance from Texas A&M University.
Mr. Welling is the Founder and Chief Investment Officer of Engaged Capital, LLC, a California based investment firm and registered advisor with the SEC focused on investing in small and mid-cap North American equities.
Prior to founding Engaged Capital in February 2012, Mr. Welling was Principal and Managing Director at Relational Investors LLC, an activist equity fund and registered investment adviser with the SEC, from June 2008 to October 2011 and served as its consultant from October 2011 until April 2012.
Mr. Welling managed Relational’s consumer, healthcare and utility investments and was responsible for investment selection, strategic development and catalyzing change at Relational’s portfolio companies.
Prior to Relational and from February 2002 to May 2008, Mr. Welling was a Managing Director at Credit Suisse Group AG where he was the Global Head of the Investment Banking Department's Advisory Businesses, which included The Buy-Side Insights (HOLT) Group, Financial Strategy Group and Ratings Advisory Group.
Previously, Mr. Welling served as Partner and Managing Director of HOLT Value Associates L.P., a then leading provider of independent research and valuation services to asset managers, from October 1999 until January 2002 when HOLT was acquired by Credit Suisse.
Prior to HOLT, he was the Managing Director of Valuad U.S., a financial software and training company, and senior manager at A.T. Kearney, one of the world’s largest global management consulting firms.
Mr. Welling also teaches executive education courses at The Wharton School of Business and is a frequent speaker at finance and investing conferences. ■