Famous Dave's names new CEO

MINNEAPOLIS -- Famous Dave's of America Inc. on Monday named John Gilbert III the new CEO of the company, replacing Christopher O'Donnell, who served as head of the barbeque restaurant chain since 2008.

The company said O'Donnell, who has worked there for 15 years, is becoming president and chief operating officer.

Gilbert is currently the president and CEO of Vermont Teddy Bear company, an online retailer. He has been a member of the Famous Dave's board for a year. Gilbert also serves on the board of Ignite Restaurant Group, which owns the Joe's Crab Shack restaurant chain, and has nearly 20 years of restaurant experience, including leadership roles at Dunkin Donuts, Kentucky Fried Chicken, and TGIFriday's restaurants.

Famous Dave's, based in Minneapolis, owns 53 restaurants and franchises 134 additional sites across North America.

Its lightly-traded shares fell 6 cents to close the day at $9.77, in line with broader market trends.