Diedrich Coffee Inc. said late Tuesday that Roger M. Laverty is out as chief executive of the coffee house chain.
Stephen V. Coffey was named chief executive.
Coffey founded Coffey Management Co. in 1986. He recently was a senior executive of Chevys Inc., which is now part of Long Beach-based Real Mex Restaurants Inc.
Coffey also was the former chief executive of Edwards Theatres Inc., where he led the Newport Beach company through a bankruptcy. Edwards is now part of Regal Entertainment Group Inc. in Knoxville, Tenn.
Laverty had run Diedrich for more than two years.
“During his term, (Laverty) was instrumental to our achievement of positive same-store sales growth in all three brands, led the successful sale of our international Gloria Jean’s operations, and ably positioned the company for future growth,” said Chairman Paul C. Heeschen.
Diedrich posted a loss of $1 million in the quarter ended June 29, up from a loss of $12,000 a year ago. Revenue rose 6.5% to $16.3 million in the period.
The company said costs were higher related to its audit and tax fees, workers’ compensation and franchise meetings, among others. Diedrich operates 206 coffee houses largely through a franchising network.
The company said its $16 million gain from the sale of its international Gloria Jean’s operations earlier this year will allow Diedrich to focus on its domestic operations.
Shares of Diedrich closed at $5.08 Wednesday.
