Country Style Cooking Restaurant Chain (CCSC) Reports Q2 EPS of $0.28; CEO Li to Step Down

Country Style Cooking Restaurant Chain (NYSE: CCSC) reported Q2 EPS of $0.28, versus $0.47 reported last year. Revenue for the quarter came in at $345 million, versus $325.8 million reported last year.

The company also announced that its Chairman and Chief Executive Officer will step down as CEO effective on February 13, 2015, six months from August 13, 2014. Ms. Li will retain her title as Chairman of the Board of the Directors. Mr. Xingqiang Zhang, a co-founder of CCSC and Ms. Li's husband, has been appointed as the new Chief Executive Officer of the Company effective six months from August 13, 2014.

Mr. Xingqiang Zhang is one of CCSC's founders and has served as one of its directors since the Company's inception. From 1996 to August 2007, Mr. Zhang, together with Ms. Hong Li, established and operated nine restaurants which are now part of the Company's consolidated group. Mr. Zhang has valuable experience and knowledge in terms of the daily operations of quick service restaurant chains, which contributed greatly to the Company's successful development. From 1992 to 1995, he served as the manager of two international quick service restaurant chains in Chongqing. Mr. Zhang received his bachelor's degree in economics from Nankai University in 1988.

Ms. Hong Li, Chairman and Chief Executive Officer of Country Style Cooking, commented, "I am honored to have had the opportunity to lead this company for the past seven years and to have expanded the reach of the business to over 300 restaurants in China. After considerable reflection, I intend to spend more time with my family. Mr. Zhang has in-depth knowledge of CCSC's operations, significant understanding of China's QSR industry and is well equipped to lead the company to its n

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