Kona Grill Inc.’s CEO Marcus Jundt has resigned. His resignation comes after the company’s board decided to evaluate strategic alternatives, including a possible sale. Kona Grill’s recent history of CEOs is turbulent—Jundt took over the role in January, before which he and Steve Schussler had been co-CEOs since November. Their predecessor, Jim Kuhn, had only been in his position for three months.
Shawn Hassel, co-founder and managing partner of investment firm Bestige Holdings LLC, is joining the board to assist with the evaluation. Kona said, “Hassel will serve as chair of the company’s strategic alternatives committee, utilising his experience to advise the company in reviewing certain strategic alternatives for the purpose of maximising the enterprise value of the company.”
Kona Grill was founded in 1998 and has about 40 locations in 22 states. They also have operations in Puerto Rico, Dubai, United Arab Emirates and Canada.