New boss at Ruby Tuesday

Article Excerpt

RUBY TUESDAY, INC. $7.89 (New York symbol RT; TSINetwork Rating: Speculative) (865-379-5700; www.rubytuesday.com; Shares outstanding: 63.7 million; Market cap: $502.6 million; No dividends paid) has appointed J.J. Buettgen as its new president and CEO. The move comes after Ruby Tuesday’s founder, Sandy Beall, stepped down in June after heading the company for 40 years. Buettgen was formerly the chief marketing officer at Darden Restaurants (symbol DRI on New York). Darden is the world’s largest casual-dining operator, with more than 2,000 restaurants in the U.S. and Canada. Ruby Tuesday has developed a number of new concepts, including Marlin & Ray’s seafood restaurants and Lime Fresh Mexican Grills, so it needs someone with experience promoting multiple brands. As well, Buettgen has worked on turning around Darden’s wellestablished but underperforming Olive Garden and Red Lobster chains. Ruby Tuesday is a buy for aggressive investors. investors…