Mrs. Fields Appoints Co-CEOs

SALT LAKE CITY, Utah (Blue MauMau)- Mrs. Fields Original Cookies Inc., a chain of some 1,200 Mrs. Fields and TCBY franchised snack shops, announced Monday that Michael Ward and John Lauck have been immediately appointed co-chief executive officers for the company.

Mr. Ward comes to the CEO position from his role as Mrs. Fields chief legal officer and as an interim CEO. In the past few months, Mr. Ward helped quickly pull the company out of Chapter 11 bankruptcy proceedings.

The chain announced that Ward will retain accountability for areas over which he already has responsibility, including international operations & development, purchasing and distribution, franchisee training, human resources, retail customer service, and risk management.

Besides his new title and duties, Mr. Lauck will keep his  old responsibilities of franchising, gifting, branded retail, and licensing businesses, the TCBY business unit, new product development, and new product marketing.

Sidney Feltenstein, chairman of the company's board of directors, provided some insight into why the board decided on a co-chair role for the CEO position. “Michael and John are the right leaders for Mrs. Fields as it emerges from bankruptcy with a stronger balance sheet ready for growth in the years to come,” commented Sidney Feltenstein, chairman of the company’s coard of directors. He added, "Their strong management and leadership experiences create a complementary style that will ensure that the management team focuses on innovation, top line growth, and bottom line results.”

The company also announced that it has appointed Greg Barber as the company’s chief financial officer and president of TCBY.