Zach McLeroy is out as CEO of Zaxby’s, the chicken restaurant chain he co-founded with Tony Townley in He will become chairman in January , and Bernard Acoca will become the Athens, Georgia-based chain’s first CEO hired from the outside.
When congratulated on being “kicked upstairs,” McLeroy laughed. “That’s exactly right. It’s nice being kicked up instead of being kicked down.”
Goldman Sachs Merchant Banking Division bought Zaxby’s for $2 billion in November , and Townley exited at that time while McLeroy stayed on as CEO. Read here about the acquisition, which won a Franchise Times Dealmakers award in
“That was sort of a short-term, mid-term strategy, just to kind of stabilize the business, get things on the right path,” he said in an interview today. Zaxby’s has more than restaurants in 17 states.
But the plan was always to bring in a new CEO to execute an aggressive growth strategy. “A lot of it revolves around the partnership, and they have big plans for the brand,” he said, referring to Goldman Sachs. “They have lots of plans for this brand to really grow, nationally and internationally, and that’s one of the things the new CEO brings to the table. He’s worked with la
I grew up thinking I was going to be a professional drummer and travel the world. My journey to the restaurant industry began in high school when I started working in restaurants. It was something I was really fond of, so I continued to do that all through college.
Even after I had a degree in economics and advertising, what I enjoyed most was working with food. That’s when I thought to start a chicken concept. Chicken fingers were on every casual-dining menu as an appetizer, but no one was really focusing on it as an entrée item. There was an opportunity to focus on it as an entrée and build a brand around that.
I told my best friend from high school about this idea and he said, “I’ll be your partner. I’ll put in half the money.” At that time the only asset I had was my drum set, so I sold it for $8, Between the cash we put in and the money off credit cards, we opened our very first store for around $28, I think a lot of it had to do with the right place, the right time, the right concept. I had everything to gain and nothing to lose.
There’s a huge proliferation of Southern food and different kinds of styles all across our nation now that you didn’t have 30 years ago. I thi
Zach McLeroy is a year veteran of the hospitality industry. He is co-founder and former CEO of the multi-billion dollar Zaxby&#;s restaurant brand- which was majority acquired by Goldman Sachs&#; private equity in Zach continues to serve as chairman of the board for the chain, which has its sights set on an expanded footprint both nationally and internationally.
Under Zach&#;s leadership, Zaxby&#;s thrived for decades, most recently boasting recognition in industry publications, including a spot on Forbes&#; list as one of the country&#;s best large employers. Also, in , the Franchise Times recognized Zaxby&#;s as a Dealmaker of the Year for a new partnership with Goldman Sachs.
Zach co-founded The Leaven Group in to serve as the impetus for intentional development and community transformation in areas of the south where his roots run deep.
Zach is passionate about providing opportunities to increase economic mobility through education, training, and social support. He heads up the McLeroy Family Foundation, which provides strategic counsel and financial contributions to select philanthropic and faith-based organizations focused on elevating women, children, and veteran
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