Former McDonald's Exec Brings Repair Kit to Midas' Shop
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Itasca, Illinois--Alan Feldman figures his experience at one struggling franchise operation will help him fix another. A former top executive with McDonald's Corp., Feldman says he has the financial, marketing and franchisee-relations knowledge to lead the Midas Inc. automotive repair chain specializing in muffler service. The new CEO inherits a long fix-it list for Midas and also must grapple with the fact that the lengthening life span of mufflers means they don't need to be replaced as often.
Last year, Midas was rattled by the costs of store openings, weak sales and disappointing performance at a parts warehouse it's now trying to sell. Feldman isn't commenting on his plans for the chain but says he'll spend the next 90 to 120 days evaluating the company to determine its direction and what needs fixing. -Crain's Chicago Business