David Jordan Resigns As President Of Sonic's Franchising Operations

Business Wire, Feb 12, 1996

OKLAHOMA CITY, Okla.--(BUSINESS WIRE)--Feb. 12, 1996--Sonic Corp.(Nasdaq/NM:SONC) today announced that David A. Jordan, age 42, has resigned as President of the Company's franchising unit, Sonic Industries, to become Vice President of Strategic Planning of Shoney's, Inc. In addition to his responsibilities for the company's franchising operations, Jordan was also in charge of Sonic's marketing and purchasing. His resignation is effective immediately.

Commenting on the announcement, J. Clifford Hudson, President and Chief Executive Officer of Sonic, said, "While we are disappointed in David's decision to leave the company, we wish him well in his new position. We understand his close relationship with Steve Lynn, Shoney's current President and Chief Executive and the former President and Chief Executive Officer of Sonic, who recruited David to join Sonic's management team in August 1994." Hudson said he will temporarily assume Jordan's duties.

"Although this situation was unforeseen, I am very pleased to note the success of our efforts over the last two years to add depth to our management team ," Hudson added, "and the confidence which that strength provides as we continue to implement our business plan. The recent additions of Steve Paugh as Vice President of Franchise Sales and Drew Ritger as Vice President of Purchasing, both seasoned executives with combined experience of 25 years, have brought new talent and experience to the area that David managed. I am very confident in our team and its ability to lead Sonic as the company strives to meet the goals we have set for the year."

Sonic Corp. franchises and operates the largest chain of drive-in restaurants in the United States. Sonic's chain currently comprises approximately 1,500 restaurants in 27 states.

CONTACT: Sonic Corp., Oklahoma City

Lewis B. Kilbourne, 405/280-7654