Srinivas Kumar will join CraftWorks Restaurants and Breweries’ team as CEO in early January, replacing interim CEO Dick Rivera who will remain chairman of the board.
“The board of directors would like to thank Dick Rivera for his service as interim CEO and we’re pleased he’ll remain chairman of the board,” says Jason Mozingo, senior managing director at Centerbridge Partners.
Kumar comes to CraftWorks from Luxottica where he most recently served as head of Pearle Vision, a premium optical retail chain. A veteran of the food industry, Kumar has 20 years of senior operating experience from Dunkin’ Brands where he held several positions including chief brand officer of Baskin-Robbins Worldwide.
“Kumar is focused, results driven and an innovator. His extensive experience with franchisees is a perfect fit for our business and we’re thrilled to have him at the head of our executive team,” Rivera says.
Kumar began his career in packaged goods at Unilever in Bangalore, India, holding a variety of sales and marketing roles. He transitioned to the food service industry as the operator of the Baskin-Robbins franchise in the Middle East where he grew the business to become the largest licensee in the Baskin-Robbins International world and the largest Quick Service Restaurant chain in the Middle East – more than double the number of stores of KFC or McDonald’s. Over the years, Kumar’s responsibilities grew to include Dunkin’ Brands business worldwide where he oversaw international expansion and branding efforts.
During his tenure both Baskin-Robbins and Dunkin’ Donuts experienced a complete turnaround in Europe moving from loss-to-profit and Baskin-Robbins in the US experienced a successful revitalization. Most recently, Kumar led a turnaround of the Pearle Vision business, which resulted in strong positive growth in the franchised system and a double digit EBITDA growth.
Kumar, who received his B.S. in Physics from St. Stephen's College in New Delhi, India, will relocate from Mason, Ohio, to CraftWorks’ dual headquarters in Denver, Colorado.
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