Lee Iacocca Joins Board of Koo Koo Roo Restaurants
Koo Koo Roo Inc. said retired Chrysler Corp. President and Chief Executive Lee A. Iacocca has joined the board of the Los Angeles-based fast-food restaurant chain.
“Lee Iacocca is a national treasure and one of the finest business minds in the world today, and we are delighted to have him join us,” said Ken Berg, Koo Koo Roo chairman and chief executive.
Koo Koo Roo, which features flame-broiled skinless chicken, owns and operates restaurants in Los Angeles; Miami Beach, and Atlantic City, N.J.
On June 8, Koo Koo Roo said it raised $10 million in a private placement of new stock and warrants with Iacocca Capital Partners and Jefferies & Co.
Iacocca’s merchant banking firm, Iacocca Capital Group, joined with Jefferies Group Inc. to form Iacocca Capital Partners, an investment bank.
Grant K. Ahearn has been promoted to a senior vice president in the energy capital services division of Union Bank.
Ahearn, who joined Union Bank in 1987, manages the project finance department at the Los Angeles offices of the San Francisco-based company, the fourth-largest commercial bank in California.
Irvine-based STM Wireless announced that Henry A. Macchio has been appointed vice president and general manager of the company’s newly created cellular division.
Macchio will be responsible for the business planning and management of the new division.
He joins STM from Hughes Network Systems, where he was vice president of engineering at the San Diego operation.