MIAMI – To Greg Brenneman, Burger King Corp. is a great place to work. The fast-food chain is losing customers to its rivals, its franchisees are restless and the company has had 10 CEOs in 15 years.
Struggling companies don’t faze Brenneman, the latest chief executive at the nation’s second-largest fast-food chain. He’s already got a turnaround at Continental Airlines Inc. on his resume. “The reason I really took the job was it’s a great global brand and a very resilient global brand. … There’s a lot of potential here,” Brenneman said.
Brenneman, who started in his job Aug. 1, has not yet announced his plan for remaking Burger King, although he has made some management changes. But he has set a goal: “It’s all about having a product that people … want to eat.”
Just before Brenneman arrived, the privately held company was starting to show signs of improvement. It said its U.S. same-store sales, those at restaurants open at least a year, were up 12.9 percent in July, the sixth straight month of gains. Its largest franchisee, Carrols Corp., said same-store sales at its 352 Burger Kings rose 4.2 percent in the second quarter, largely due to new products.
But the chain, with more than 11,200 restaurants worldwide, still has much ground to regain because domestic same-store sales fell for nearly two years before reversing in February.
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