Pie Five, Pizza Inn parent gets new CEO
The parent company of the Pie Five and Pizza Inn limited-service pizza chains has tapped former Smashburger chief Scott Crane as its new CEO.
Crane fills the post at Rave Restaurant Group that was vacated by the sudden departure of Randy Gier this summer. Board member Clinton Coleman had been serving the two-brand pizza operation as CEO on an interim basis.
Crane was president and CEO of the Smashburger fast-casual chain until last April, when he resigned the post to Michael Nolan. Crane had served the better-burger brand two previous times as president.
He has also served as a managing partner of Consumer Capital Partners, an investment company with a stake in Smashburger.
Crane was at the helm of the burger chain when Jollibee, the giant Asian chain, bought a 40% stake with plans to use the fast-casual concept as a growth vehicle within the United States.
Crane takes control of a company that has struggled recently because of problems with the younger of its two brands, the Pie Five fast-casual pizza chain. For the fourth quarter that ended June 26, 2016, Pie Five’s same-store sales fell year over year by 12%, leaving Rave with a loss for the fiscal year of $8.9 million on revenues of $60.8 million, a 26% increase over the fiscal 2015 tally.