CHICAGO Burger King today named former Pricewaterhouse-
Coopers chief executive Greg Brenneman as its new CEO, effective Aug. 1. He replaces Brad Blum, who left the company earlier this month, after only a year-and-a-half in the position.
"We have worked with Greg in the past and know him well," read a statement issued by the Miami-based company's board of directors. "He is an accomplished and experienced executive whose drive for fast-paced change and enhanced performance will be invaluable to Burger King Corporation as it strengthens its position in the fast-food industry."
Most recently, Brenneman was with a Houston-based private equity firm, TurnWorks. He is probably best known for helping engineer the turnaround of Continental Airlines as its president and CEO. He also had a stint at investment house Bain and Co.
Burger King, which is owned by a private equity group comprised of Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners, spends about $350 million a year on advertising. MDC Partners' Crispin Porter + Bogusky in Miami is the company's lead ad agency.