OSI plays musical boardroom chairs

Companies can get pretty creative when it comes to names for corporate roles. Chief Foxy Officer is one role assigned by the quirky Tampa cleaning company College Foxes Cleaning.

But even large companies, like OSI Restaurant Partners LLC, which recorded more than $3.6 billion in revenues in 2010, can put some interesting labels on its c-suite executives. And as Dirk Montgomery, the firm's former chief financial officer and senior vice president, found out, snazzier — and perhaps more puzzling — titles don't always mean a step up.

OSI, the firm whose brands include Outback Steakhouse and other popular restaurants, recently announced the creation of the new title of “chief value chain officer.” Montgomery, who will no longer be the CFO once a replacement has been found, will transition from his former role into this new one. A press release from the company states that “he will report directly to the CEO.” One would imagine that the position of CFO would do the same.

But it seems that more letters in a corporate title doesn't equate with a promotion. Joe Kadow, the company's executive vice president and chief legal officer wouldn't tell Coffee Talk too much about Montgomery's new position — besides a stern assertion that “it certainly isn't a promotion.”

Nevertheless, Liz Smith, OSI's chairman and CEO, says in the company's announcement that Montgomery will “be responsible for identifying new ways to integrate our capabilities across IT, supply chain and productivity to drive increased productivity, improved cross-functional integration and faster speed to market.” That sounds like a lot of hats to wear without a bump in executive status.

The company has been playing corporate musical chairs since Smith took over for A. William Allen as chairman of the company's board of directors earlier this year.

In the same announcement, the company says Chief Brand Officer Jody Bilney will now head the company's research and development. Coffee Talk assumes research and development will include a lot of food testing at the firm's five restaurants. Now that sounds like a tasty task.