Kona Grill, Inc., an American grill and sushi bar, has appointed company director Michael A. Nahkunst as interim president and chief executive officer. Nahkunst succeeds Marc A. Buehler in these positions, who is leaving the company to pursue other interests.
“On behalf of the board of directors and our entire organization, I want to thank Marc for his dedication and substantial contributions to Kona Grill’s success,” said James R. Jundt, chairman of the board of directors. “We wish him the best in his future endeavors.”
Nahkunst will serve as the interim president and chief executive officer until a permanent successor has been identified and appointed. Nahkunst has more than 35 years of restaurant experience, including serving as the chief operating officer of both The Cheesecake Factory and BJ’s Restaurants. Previously, Nahkunst held various senior level positions with Brinker International, the parent of Chili’s restaurant group, where he spent 17 years growing the concept from its early inception. Nahkunst is currently a principal of Bailiwick Capital Partners, a strategic corporate development and financial advisory firm specializing in the restaurant industry.
“Given Michael’s executive experience in managing highly-successful restaurant operations, particularly new, high-growth concepts, he is the ideal candidate to take on this interim position,” noted Jundt.
The company expects to take a one-time charge of approximately $0.3 million in the second quarter related to the departure of Mr. Buehler. Excluding this charge, the company reaffirms its forecasts of restaurant sales of $24.0 million to $25.0 million, and net income of $0.2 million to $0.4 million, or $0.02 to $0.04 per share. “We’re experiencing a strong quarter and expect to end up more toward the higher end of this range,” said Jundt.