07.06.2006 17:55:00
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BUCA, Inc. Responds to Governmental Actions Against Former Executives; New Executive Team Moves Company Forward with Focus on Ethics
"BUCA, Inc. today is led by an entirely new executive team,focused on managing the Company according to the highest ethicalstandards," said Wally Doolin, President, Chairman and Chief ExecutiveOfficer of BUCA, Inc.
The team, formed since early 2004, includes Doolin; ChiefOperating Officer Modesto Alcala; Chief Marketing Officer StephenHickey; Chief Family Resource Officer Cindy Rodahl; General Counsel,Richard Erstad; Chief Accounting Officer Dennis Goetz; and ChiefFinancial Officer Kaye O'Leary. Under this leadership team, theCompany has engaged the Center for Ethical Business Cultures to helpmove the Company toward becoming a "best in class" organizationcommitted to the highest standards of ethical behavior andperformance. In addition as previously disclosed, the Company isimplementing a new financial accounting system to enhance internalcontrols.
As previously reported, in the Company's Annual Report on Form10-K for the period ended December 26, 2004, the Company restatedincome before income taxes over fiscal years 2000 through 2003 and thefirst nine months of 2004 which had the effect of reducing incomebefore income taxes by $19.8 million, that included $11.9 millionrelated to errors in the capitalization of certain property, equipmentand leasehold improvement transactions.
About BUCA, Inc. BUCA, Inc., a public company headquartered inMinneapolis, owns and operates 104 highly acclaimed Italianrestaurants under the names Buca di Beppo and Vinny T's of Boston in28 states and the District of Columbia.
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