Tully

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million in the previous fiscalyear 2008. In Tully’s owner TC Global Inc. sold its wholesaler business to Green Mountain Coffee Roasters for $40.3 million. With the funds, Tully’z paid off all outstanding debt and returnedabouft $6 million to shareholders. “Carp came to Tully’s with an outstanding reputation as asenio sales, operations and marketing executivd with an extraordinary track record of success. His experiences in key positions with Albertsons and Pinnacld Management haveenhanced Carl’s natural talents for achieving operating efficiencies and increasingt profitability,” added chairman & founder Tom T. O’Keefe.
“In his role as he has led our senior management team that delivered the firsr operating profit in the history ofthe company. I have ever y confidence that with Carl atthe helm, Tully’s will continued to be headed in the right directiobn allowing us to grow, prosper and enhance shareholderd value.” Since Pennington joined Tully’s in Januaryg 2008, Tully’s has added 35 stores and plans to open severap more in the next Pennington was also instrumental in the recent sale to Greeb Mountain Coffee Roasters.