TheSauce.com Announces John Powers As New CFO

Sat. July 22, 2000 12:00 AM by Internet Wire

Chicago, IL - TheSauce.com, a Web site for independent restaurateurs that provides a one-stop shop to help grow revenue, reduce costs and save time, today announced the appointment of John Powers as Chief Financial Officer. In his new role, Powers is responsible for the financial strategy and daily financial and facilities operations of the firm.

Powers brings more than nine years of food industry financial experience to TheSauce.com. Prior to joining TheSauce.com, Powers held senior financial management positions as Corporate Controller and interim Chief Financial Officer of Jamba Juice Company. At Jamba Juice, Powers played a pivotal role in growing the Jamba brand from 40 locations to 320 locations and secured much of the financing to fuel this expansion. Preceding his tenure with Jamba Juice, Powers served as vice president of finance at DAKA International in the Fuddruckers and Specialty Concepts Divisions. Powers also worked at Grand American Fare, Inc. as Chief Financial Officer and Controller and at Deloitte & Touche LLP.

“John’s proven track record in both food industry and entrepreneurial finance was key in our decision to appoint him as CFO,” said Peer Munck, co-founder and CEO of TheSauce.com. “John will play a vital role in the implementation of our aggressive business plan as we continue our nationwide rollout.”

In 1995 Powers received his Master’s in Business Administration from Harvard Business School. He received a Bachelor’s of Science in accounting from the University of Southern California in 1987. Powers is also a certified public accountant.

TheSauce.com launched in Los Angeles, the largest restaurant market in the country, in April 2000. A Chicago market rollout is scheduled for fall 2000 and a nationwide rollout of TheSauce.com’s network of national and local vendors and partners is planned for winter 2000. TheSauce.com operates two other business ventures including FlyInTheSoup.com, aimed at restaurant employees and EatingOutLoud.com, which will focus on restaurant guests. For more information please, log on to http://www.thesauce.com.

News, photos provided by Internet Wire.

 

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