Cosi announces David Lloyd to the Board of Directors and its Audit Committee

– USA, MA – Così, Inc. (NASDAQ: COSI), the fast casual restaurant company, today announced the appointment of David Lloyd to the Company’s Board of Directors, effective January 1, 2015.  The appointment comes as a result of Michael O’Donnell’s decision to step down from his position as a director of the Board as of that date. Mr. O’Donnell has been a member of Cosi’s Board of Directors since March 2006 and has served as the Chairman of the Audit Committee since March 2010.

“On behalf of the Board of Directors, the stockholders and all of the Company’s constituents, I would like to thank Mr. O’Donnell for his immeasurable contributions to the Company,” stated Mark Demilio, Chairman of the Board of Directors. “Mike’s expertise and business acumen have been vital to the Company during his many years of service on the Board.” 

“It is with mixed feelings that I depart from the Board of Cosi,” commented Mr. O’Donnell. “However, after more than 8 years on the Board and with my other commitments, I feel it is time for me to step down.  I also feel that the time is right in that I believe the Company is on solid footing and heading in the right direction given the completion of the recent Rights Offering by the Company, R.J. Dourney’s leadership and a highly qualified and capable replacement in David Lloyd.”

Mr. Lloyd is currently an independent restaurant domain expert with Highland Consumer Fund, which specializes in retail, restaurant and food services and consumer product investment opportunities in growth-focused companies with proven business models.  From 2005 through 2009, he served as President and CFO, and from 2009 through 2013, he served as President and CEO of Bertucci’s Restaurant Corporation.  Prior to that time, Mr. Lloyd spent 4 years as the Chief Financial Officer of Taco Bueno Restaurants and prior to that time spent 6 years as the Chief Financial Officer of Taco Cabana.

“We are very excited to have David join us,” said R.J. Dourney, Cosi’s President and Chief Executive Officer. “As a veteran CFO in several different restaurant companies, a past CEO and a nationally recognized consultant in the industry, he brings a tremendous amount of background and experience that will prove invaluable to Cosi as we continue to move the Company forward and become a successful national fast casual brand.  At the same time, I would like to add my sincere appreciation to Michael O’Donnell for his dedication and commitment to Cosi throughout his time as a member of the Board.”   

Mr. Lloyd will serve as Chairman of the Audit Committee of the Board.

About Così, Inc.

Così® is a national fast casual restaurant chain that has developed featured foods built around a secret, generations-old recipe for crackly crust flatbread. This artisan bread is freshly baked in front of customers throughout the day in open-flame stone-hearth ovens prominently located in each of the restaurants. Così’s warm and urbane atmosphere is geared towards its sophisticated, upscale, urban and suburban guests. There are currently 63 Company-owned and 48 franchise restaurants operating in sixteen states, the District of Columbia, Costa Rica and the United Arab Emirates. The Così® vision is to become America’s favorite fast casual restaurant by providing customers authentic, innovative, savory food while remaining an affordable luxury.

The Così® menu features Così® sandwiches, freshly-tossed salads, bowls, breakfast wraps, melts, soups, Squagels®, flatbread pizzas, S’mores, snacks and other desserts, and a wide range of coffee and coffee-based drinks and other specialty beverages. Così® restaurants are designed to be a welcoming and comfortable environment. Così’s sights, sounds, and spaces create a tasteful, relaxed ambience that provides a fresh and new dining experience.