NOTES
- “Rubio’s Restaurants Announces Initial Public
Offering of Its Common Stock.” Company press
release, 1999.
- “Sheri Miksa Named President and Chief
Operating Officer of Rubio’s Restaurants, Inc.”
Company press release, 2002.
- L. Bertagnoli, “Revving Up Rubio’s,” Chain
Leader,October 1, 2004. Retrieved from the Web
September 20, 20006. http://www.chainleader/
com/ archives/2004/10/rubios.asp.
- S. Gray, “Wendy’s Stumbles with Baja Fresh,” The
Wall Street Journal,January 4, 2005: B7.
5. K. Spors, “Not So Fast,” The Wall Street Journal,
September 19, 2005. Retrieved from the Web
February 22, 2006. http://online.wsj.com/article/
SB112671792850740632.html
6. D. Washburn, “Rubio’s Top Exec Leaves
Company,” San Diego Union Tribune, December
21, 2005. Retrieved from the Web September 21,
2006. http://www.signonsandiego.com/uniontrib/
20051221/news_1b21rubios.html
7. Conference call retrieved from Vcall, accessed
through Rubio’s Web site, August 3, 2006.
8. F. Green, “Rubio’s Employs New CEO, Strategy,”
San Diego Union Tribune, August 22, 2006: B1.
and oversaw Amoco’s 8,000-plus gas station
and convenience store operations. He also
has been an angel investor and a managing
partner at IdeaEdge Ventures of San Diego.
He worked for McKinsey & Company, a
management consulting firm, for 12 years
where he was a partner. In 1992 he went to
Pepsico and managed new ventures for Frito-
Lay. He helped place Taco Bell products into
supermarkets (Frito-Lay owns Taco Bell).
And what did the pundits think of the
appointment? Generally they liked the move.
Mark Smith, who covers Rubio’s for
Sidoti and Co., New York, said, “I would
have loved to see somebody with restaurant
experience, but they needed someone who
can take a turnaround company and make it
into a growth company.” He added that he
liked the alliance that Pittard put together
with McDonald’s while he was with Amoco.
Ken Dunkley of Quick Food Consulting,
La Jolla, said, “They want someone who can
look at the company’s business structure and
financial strategy.” He noted that previous
initiatives outside California had not fared
well. He offered that the plan to take busi-
ness away from pricier competitors might
work because, in tough times, customers
sometimes trade down a bit. And it is good
to avoid fast-food price wars.
The stock rose 20 cents on the news.
Pittard is optimistic. “I asked my friends
to name their favorite restaurants and
Rubio’s was on almost everyone’s list—many
said it was their favorite. I wouldn’t have
come in if I hadn’t seen substantial upside
growth potential.”
Additional information on Rubio’s, its
financial results, menu, community events,
and marketing promotions can be found at
http://www.rubios.com
474 ENTREPRENEURSHIP CASE
