News

Cosi announces major leadership changes

August 23, 2016

Cosi Inc. said in a news release that CEO RJ Dourney has been terminated and Chief Financial Officer Miguel Rossy-Donovan has resigned to accept a CFO position at another company. The news release said he will continue to monitor current financial systems during the transition.

"We appreciate that Miguel has agreed to a period of transition and are excited about the role he will play during this time in ensuring we are well-positioned to execute our strategy," said Cosi Board Chair Mark Demilio, in a release.

The release said that board member Patrick Bennett will serve as interim CEO until someone is appointed to that position permanently. 

"We believe his background and experience — with the experience of fellow directors, Jean Birch and David Lloyd, and the contributions of all board members — will be valuable during this transition, as the company continues to focus on recapitalizing its balance sheet and building a stable foundation for the business going into fiscal 2017,” said Demilio.