Andrew Cherng
Andrew Cherng (pronounced: Chur-ng) is an American entrepreneur. He is perhaps best known for being the co-founder and chief executive officer of Panda Express.
Cherng was born in Jiangsu, China and immigrated to the United States via Taiwan in 1966.[1] Along with his father Ming Tsai Cherng, they started a sit down Chinese fast-food restaurant called Panda Inn in Pasadena, California using funds from the family and a Small Business Administration loan. 10 years later, Cherng started Panda Express at the newly opened Glendale Galleria mall in 1983.[2] He had been prompted to start the spin off by the developer of the mall who had eaten at Panda Inn and invited Cherng to take a place at the food court.[3] The company expanded to 100 restaurants by 1993 with the opening of a UCLA outlet.[2]
The chain has become one the biggest Chinese American family owned fast food chains in the United States. Cherng has stated a preference for keeping the company closely held. However, he told USA Today if the company could get a valuation close to that of Chipotle Mexican Grill, he could reconsider his stance.[2]
References
- ^ http://www.economist.com/blogs/schumpeter/2010/12/positive_thinking
- ^ a b c Krantz, Matt. "Panda Express spreads Chinese food across USA". USA Today.
- ^ Hirsch, Jerry. "Profile | Andrew Cherng, Panda Express founder". Los Angeles Times.