Consumer >> CEO Interviews >> April 1, 2003

Michael Snyder – Red Robin Gourmet Burgers Inc (rrgb)

MICHAEL SNYDER is Chairman, President and Chief Executive Officer of Red Robin Gourmet Burgers, Inc. When Mr. Snyder walked into the original Red Robin' restaurant in Seattle in 1978, he immediately became enamored with the restaurant's gourmet burgers and emphasis on quality. Soon after, Mr. Snyder and his brother, Steve, became Red Robin's original franchisee. After many successful years as a Red Robin franchisee, he became President of Red Robin International in 1996. While implementing a number of turnaround initiatives, Mr. Snyder strengthened the company's gourmet burger focus, recruited a new management team, upgraded the management information systems, streamlined in-restaurant operations, improved guest service and closed under-performing restaurants. In 1997, he became Chairman and CEO. In addition to making strategic and operational changes, he also introduced a values-based business and lifestyle approach by establishing the company pillars of living with honor and integrity, continually seeking knowledge and having fun. Mr. Snyder believes these values make Red Robin unique, and the 'unbridled' tales of Team Members following his approach are legendary throughout the Red Robin system. He holds a Bachelor's degree in Business and Finance from the University of Puget Sound in Tacoma, Washington. Mr. Snyder has shared his success through his support of many charitable organizations. As a result of his leadership, Red Robin's average annual restaurant sales ($3 million) and restaurant level operating profit (over 19%) for comparable company owned restaurants are among the highest in the restaurant industry today. Profile
TWST: Can we start with an overview of Red Robin?

Mr. Snyder: Red Robin has been around for over 20 years. I first

became involved with Red Robin in 1979 when I became the first

franchisee of