Andrew Cherng (pronounced Chur-ng , born April 1948) is a Chinese-born billionaire Chinese restaurant owner. He is the founder and chairman of the Panda Restaurant Group, based in Rosemead, California. He is the co-founder and chief executive officer (CEO) of Panda Express. The Cherngs invested from their family office, the Cherng Family Trust.
Video Andrew Cherng
Early life and education
Cherng was born in April 1948 in Yangzhou, Jiangsu Province, the Republic of China on the northern bank of the Yangtze River. His father is Ming-Tsai Cherng, a chef.
He and his family then moved to Taiwan after the Kuomintang was defeated in the Chinese Civil War, and in 1963, his family moved to Yokohama, Japan, where his father worked as a chef.
In 1966, at the age of 18, he immigrated to the United States to study at an American university. He earned a bachelor's degree in mathematics in 1970 from Baker University in Baldwin City, Kansas, and a master's degree in applied mathematics from the University of Missouri in 1972. In Baker he met his future wife, Peggy Tsiang, born in Burma and raised. in Hong Kong, who subsequently obtained a bachelor's degree in mathematics from Oregon State University in 1971 and a PhD in electrical engineering from the University of Missouri.
Maps Andrew Cherng
Business career
In 1972, he moved to the Los Angeles area to help his cousin run a restaurant called Ting Ho. After a few months, he found a restaurant in Pasadena to take over.
In June 1973, with his father Ming Tsai Cherng, they took over a restaurant and started a new Chinese restaurant called the Panda Inn in Pasadena, California on Foothill Boulevard, using funds from family and Small Business Administration loans. Opened on June 8, 1973. The cuisine is more in Mandarin than is usually found in Canton area.
In 1983, Andrew Cherng opened the first Panda Express, a fast food restaurant, at the recently opened Glendale Galleria II mall in Glendale, California. He has been asked to start a spin off by a mall developer who eats at Panda Inn and invites Cherng to take place at the food court.
The company has grown to 100 restaurants in 1993, with the opening of outlets at the University of California, Los Angeles.
Cherng has stated a preference for keeping the company tightly held. However, in 2006 he told USA Today if the company could get an appraisal approaching the Chipotle Mexican Grill, he might reconsider his stance. However, in an interview with The Seattle Times newspaper in 2008, he said he would not be interested in making the company public, saying they do not need money and citing concerns with transaction issues and costs. with shareholders.
The Cherngs has invested heavily in new restaurant concepts such as Just Salad, YakiYan, Ippudo, and Pieology.
Philanthropy
In February 2011, Cherngs donated $ 2.5 million to support Collins College of Hospitality Management at California State Polytechnic University, Pomona.
In March 2017, the California Institute of Technology announced that they changed the name of its medical engineering department to the Department of Medical Engineering Andrew and Peggy Cherng after receiving a $ 30 million prize from Andrew and Peggy Cherng. The following month, the University of Missouri announced a $ 1.5 million reward from Cherngs that would benefit its Honors College.
Personal life
Andrew and Peggy, who worked for aircraft companies in the Los Angeles area, married in 1975. They have three daughters. Two of their daughters, Andrea and Nicole, work for the Panda company at its corporate headquarters. Their daughter Michelle is a primary/secondary teacher.
In 2015 it was reported that he and his wife had invested $ 15.2 million in beachfront properties and homes in Honolulu.
Awards
- Since 2010, Cherng has become a member of Committee 100, an international, nonprofit, non-partisan membership organization that brings American China's perspective on issues concerning Asia-America and US-China relations.
- Member of the Fremont College Program Advisory Committee.
- In 2008, Cherng was listed in Forbes' Twenty-Five Notable Chinese-Americans.
- In 2008, California State University Polytechnic, Pomona gave Cherng an honorary doctorate.
References
External links
- Committee of 100 Roster Members
Source of the article : Wikipedia
0 Comments