Exec Suite: Carolyn Spatafora, Sbarro
Sbarro chief financial officer Carolyn Spatafora in her office in Melville. (March 1, 2012) Credit: Ed Betz
Carolyn Spatafora had only been chief financial officer for about a year when Sbarro, the Melville-based pizza and pasta chain, filed for bankruptcy last April. With 1,000 restaurants around the world, the company had been hurt by the decline in mall traffic in recent years and, strapped with debt, was unable to invest in jazzing up its appearance or updating its menu to attract more customers, Spatafora says.
About 30 of its investors, mainly from Stone Tower Capital, traded their debt for equity and helped the company emerge from bankruptcy in November with $35 million in new capital, she says.
Spatafora, 46, a Centerreach native, started her career as a certified public accountant at the large auditing firm KPMG, then moved to Adecco staffing before taking management roles at Sbarro. She said her dedicated team and mentors, former CFO Tony Puglisi and former interim chief executive Nicky McGrane, helped her rise to her executive position.
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