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• W216517313 abstract "Executive Summary J. Clifford Hudson has spent the last 20 years of his career at Sonic Corporation, an Oklahoma City-based, publicly held company (NASDAQ: SONC) that owns, operates and franchises Sonic Drive-in restaurants. Today, he is chairman of the board and chief executive officer of this public company, which has more than 2,700 franchisee and company-operated drive-in restaurants, and almost $2.5 billion in system-wide sales. Hudson was named chairman of Sonic Corp. in January 2000. Previously, Hudson was chief executive officer (CEO) and president of Sonic Corp., positions he held since April 1995. Prior to that time, he served the company in a variety of capacities, including general counsel, chief financial officer and chief operating officer. Sonic Drive-in was founded in 1953, when a prototype store, called the Top Hat Drivein, was opened by Troy Smith in Shawnee, OK. (The name was changed from Top Hat to Sonic in 1959). Now, 50 years and more than 2,700 drive-ins later, Sonic enjoys the highest customer frequency rate in the quick-service restaurant industry. It is the largest drive-in franchise in the nation, with locations in 30 states and average yearly unit sales that exceed $900,000. During Hudson's tenure as CEO of Sonic, average yearly drive-in profit has grown from $78,000 to more than $125,000, average drive-in sales from $602,000 to $923,000 a year, system-wide sales from $880 million to almost $2.5 billion annually, and brand awareness has doubled. The company's revenues are five tunes greater and market capitalization (the public value of its common stock) has grown from $185 million to $1.3 billion. In addition to his Sonic responsibilities, Hudson has been affiliated with many non-profit and community activities. He served as chairman of the board of directors of the securities Investor Protection Corporation (SIPC), a presidential appointment, from 1994-2001. He now serves as chairman of the Oklahoma City School Board, a position created in 2000 as part of an overall turn around of the 40,000-student, inner-city Oklahoma City public school system. Hudson graduated from the University of Oklahoma, which he attended with Phi Beta Kappa and President's Leadership scholarships. In 1998, Hudson was honored as a Distinguished Alumnus of the University of Oklahoma College of Arts and Sciences, where he serves as a member of the College of Arts & Sciences Board of Visitors. In 2001, he received the University's Regents Award from its Board of Regents. Hudson graduated from the Georgetown University Law Center, where he was a member of the legal honor society Phi Delta Phi. In 1979, he served as an editor of the International Law Journal, a publication of the Association of Student International Law Societies. He is also a member of the board of visitors of Georgetown University Law Center. Hudson and his wife Leslie, an epidemiologist, live in Oklahoma City with their two sons. Author: You have been a top executive at Sonic for nearly a decade now. How would you describe your personal management philosophy? Hudson: I would describe it as having a preference for collaboration. Openness with folks from a variety of disciplines both ensures that collaboration yields the best product for us but also invites the greater degree of development for individuals hopefully, in the long run, greater job satisfaction. A collaborative model is core to the way I go about things; using the engagement of others to set goals collectively and then deciding respective roles, such as who needs to be engaged in a more tactical manner. I think when you do that in an organization, you ultimately find more buy-in to the direction in which people need to be heading and more support of the results as well. Part of my philosophy is affected by the fact that we run a franchise company. Eighty percent of our system is franchised, and those franchisees are putting up millions of dollars. …" @default.
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• W216517313 date "2004-07-01" @default.
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• W216517313 title "Balance Is the Key: A Conversation with J. Clifford Hudson" @default.
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