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Front Burner Brands reorganizing, splitting off Burger 21
Tampa-based restaurant management company Front Burner Brands announced an ownership reorganization with the goal of best supporting each of its restaurant brands, The Melting Pot, Burger 21 and GrillSmith.
Burger 21 is being broken out into its own standalone company led by Mark and Arlene Johnston. The 15-unit brand currently had more than 25 franchised locations in development.
Under the new ownership structure, Bob Johnston will manage day-to-day business at Front Burner Brands as well as serve as chairman of the board. There is no change in the ownership interest or management structure of GrillSmith.
The company says no layoffs, job cuts or position eliminations will result from this change.
“We are confident that this ownership change will be mutually beneficial for all brands, their franchisees, management teams and team members, and allow all three brands to become stronger and more focused as a result,” Alisha dos Santos, communications manager for Front Burner Brands, wrote in an email to the Business Observer announcing the change.
Jabil aftermarket buyer, iQor relocating to St. Pete's One Progress Plaza
iQor, a firm that provides customer contact and product support services, is relocating its global headquarters from New York City to One Progress Plaza in downtown St. Petersburg.
More than 100 employees are expected to move into the new three-floor office space at 200 Central Ave. in January.
Earlier this year, iQor acquired St. Petersburg-based Jabil Circuit Inc.'s aftermarket services. The purchase created one of the largest companies in its sector, with more than 32,000 employees in 17 countries serving Fortune 1,000 companies in more than 60 countries.
A majority of iQor's senior leadership team will transition to the St. Petersburg office space once renovations are completed. iQor is also currently hiring for more than 20 corporate positions in the area. The company employs more than 1,800 in Florida, which includes employees at customer care centers in Fort Lauderdale and Miramar and in a repair center in the Gateway area of St. Petersburg.
“We are thrilled to be moving iQor's corporate headquarters to St. Petersburg and to bring jobs and opportunity to a growing and thriving downtown,” Hartmut Liebel, CEO of iQor, says in a press release. “Given the roots of our aftermarket services business in the region, St. Petersburg is a natural fit for iQor. The region's large pool of highly skilled talent, strong business climate, and outstanding infrastructure will support iQor's increasing scale and culture of innovation.”
BayCare Health CEO retiring in 2016, COO Inzina to assume top role
BayCare Health System CEO and President Steve Mason, 66, has announced he will retire in mid-2016. BayCare's Board of Trustees has named Chief Operating Officer Tommy Inzina, 56, as Mason's successor.
On Jan. 1, Inzina will assume the additional role of BayCare president, while Mason retains responsibility for the overall organization as CEO. Mason will continue to work with Inzina leading up to the transition.
“Tommy Inzina is uniquely qualified to succeed me in leading the area's largest health system,” Mason says in a press release. “Since 1993, he has demonstrated financial acumen and developed a deep understanding of our sophisticated health system as COO, chief financial officer and chief administrative officer. During the decade we've worked together, I've come to know Tommy as a visionary leader who can deliver results in a changing health care environment while keeping the focus on our mission-driven culture.”
BayCare Health System operates a network of 12 nonprofit hospitals and outpatient facilities in the Tampa Bay area.
Tech Data board agrees to $100 million buyback
The board of directors of Clearwater-based Tech Data Corp. approved a program to buy back up to $100 million of the company's common stock.
Since 2005, the company has purchased $1.1 billion of Tech Data stock, roughly 41% of shares issued.
“We believe the use of our strong balance sheet and ample liquidity to buy back our stock, continue to invest in organic growth initiatives, and selectively pursue strategic opportunities will help drive solid earnings per share growth in the near and long term,” Robert Dutkowsky, CEO of Tech Data, says in a press release.
American Water Chemicals rebranding, changing name to Alkema Solutions
Plant City-based American Water Chemicals plans to rebrand itself as Alkema Solutions starting next year. The company says the new name better reflects the firm's main business in the membrane water treatment industry and references alchemy, the precursor to chemistry. The firm sells membrane chemicals, including antiscalants and cleaning chemicals.
Morristown, N.J.'s Covanta operating new waste plant
Pinellas County Commissioners have hired Covanta to operate the county's waste-to-energy Pinellas County Resource Recovery Facility off 28th Street North in St. Petersburg. The Morristown, N.J.-based firm will be paid more than $400 million for the 10-year contract.
The firm says it has also started a number of capital projects to improve operations at the facility.
The Pinellas County Resource Recovery Facility processes 3,150 tons of solid waste per day into enough clean renewable energy to power 40,000 homes. It also recovers about 26,000 tons of metal a year for recycling.
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