Zaxby's Names Blake Bailey CFO

Zaxby’s has appointed Blake Bailey as chief financial officer (CFO) for Zaxby’s Franchising, Inc. (ZFI). Bailey succeeds Tony Townley, founding partner with Zach McLeroy chief executive officer (CEO) of ZFI.

Townley is becoming Zaxby's executive vice president. This move will help to streamline the financial responsibilities of the business and the day-to-day decision-making process, as well as increase the collaboration and innovation of the management team.

“Blake’s contributions to this organization and our tremendous growth over the years are significant,” said Townley. “This promotion is well-deserved. We are extremely excited to have Blake join the executive team at Zaxby’s and believe his future contributions will only continue to help us realize strategic growth and business success for all our Zaxby’s family.”

During the past 11 years, Bailey has been instrumental in several key initiatives, including leading ZFI in development strategies over the last few fiscal years, helping ZFI increase same-store comparable sales consecutively for eight years, playing an integral role in helping fund equipment that improved operational performance and profits, and serving a key role in franchise development working directly with prospective licensees.

He obtained a $150 million credit facility that was subsequently paid off, leaving ZFI debt free. During his tenure with the company, Zaxby’s has been the fastest-growing chicken chain in the country. In 2011, the chain exceeded $840 million in system wide sales. Total sales grew 8.1 % last year, the result of SSCS growth of 3.4 % and the addition of 26 new locations in 2011.