Falconhead Capital partner also leads the search for a new CEO. 

Rita's Italian Ice named Michael Lorelli its new executive chairman of the board. Lorelli is also an operating partner of Falconhead Capital, the private equity firm which acquired Rita's in 2011. He succeeds Tom Christopoul as chairman of Rita's.

Lorelli also serves as Rita's interim CEO, and is leading the search for a president, following the departure of Jonathan Fornaci. When the company identifies a new president, Lorelli will continue in his role as executive chairman.

Lorelli's 30-year career includes serving as chief executive officer of Pizza Hut's International division.