Peggy Cherng is the co-CEO and co-Founder with her college sweetheart and husband, Andrew Cherng, of popular Chinese fast food chain Panda Express. Panda Express co-founders and CEOs Andrew and Peggy Cherng have a combined net worth of more than $3 billion. Andrea is the Chief Brand Officer and Nicole is the manager of catering and special events. 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Peggy Cherng was born in 1947/1948 in Burma, now Myanmar, and later moved to Hong Kong. 2023 Forbes Media LLC. Master of Arts, University of Missouri; Ph.D, University of Missouri. She is credited with innovating what is commonly referred today as "point of sale" within the food industry. And have three daughters who are also supporting a family and a business together. Starting around 2018, the Cherngs actually didnt establishment Panda Express cafs besides in a couple of cases, actually possessing and working every one of their eateries without opening up to the world. With this loft job history, Cherng introduced . Includes Address (9) Phone (13) Email (5) See Results. She is yet to be identified. When it comes to the troublemakers in your organization you have two choices: cut them out or rein them in. Her many achievements have earned her the respect of colleagues and peers alike, while also making a significant impact on the restaurant industry in the United States. Aug 13, 2018. pg.acq.push(function() { Andrew and Peggy Cherng are cofounders of the $3.5 billion (sales) Chinese fast food chain, Panda Express, which has over 2,200 locations. Peggy Cherng is co-CEO of Panda Express, the $3.8 billion (est. Andrew and Peggy, an engineer who was working for aircraft companies in the Los Angeles area, and who both first met in college, married in 1975. Her holistic vision for people development led to the creation of the University of Panda, a core component of the companys people development strategy. Affiliations 1 Andrew and Peggy Cherng Department of Medical Engineering, California Institute of Technology, Pasadena, CA, USA. They have three daughters. When I was really little and I would go into the kitchen looking for my grandfather, he would pick me up and feed me spoons full of hot and sour soup. If youre a marketer, get used to this new acronym, as youll be using it soon. The couple married in 1975 and has three daughters. All Filters. As an active legal matter, we are unable to comment further.". The couple has made some sizable philanthropic gifts to date, including $30 million to Caltech and $25 million to Huntington Hospital in Pasadena. Hosts, Leah Bonnema & Nick Leighton, talk Cranberry Upside-Down Cake, Donate today for as little as $5.00 a month. Read our privacy policy for more information. According to EEOC, they were working at a restaurant in Hawaii. The couple has three children, two Andrea Cherng and Nicole Cherng of whom work for Panda Restaurant Group, Panda Express's corporate parent. After its bubble burst, Magic Leap, under former Microsoft exec Peggy Johnson, targets industry for its augmented-reality headsets. This title unwraps the life of Panda Express founder Peggy Cherng! Andrews business acumen has been recognized by Forbes magazine, the Los Angeles Business Journal and the Asia Society of Southern California. According to reports, the woman said that on July 13, 2019 three years after she had first begun working for Panda Express she was forced to strip to her underwear in front of other participants and employees who were "ogling" her. }) Resides in Las Vegas, NV Metropolitan Area, Related by financial asset: Panda Restaurant Group. ga('ads.send', { Peggy Tsiang Cherng 1947 1 2 3 4 5 [ ] 1947 1966 1970 1971 1974 [3] 19751977 - 19771982 3M 1982 [ ] As Co-Founder, Co-Chair and Co-CEO, Andrew Cherng is the visionary behind Panda Restaurant Group. Jeff, who began his career at Panda Express in 1995 as counter help, understands first hand the importance of continuous learning and people development. Whats the story behind her restaurant and her Successful journey to become a great businesswoman. Peggy Cherng Wife | Daughters Cherng is married to Andrew Cherng. "My oldest daughter is chief marketing officer, my second daughter manages investments for the Cherng Family Trust, and my youngest works with the Panda Charitable Foundation." "The biggest. He was formerly the Vice President of Real Estate-West responsible for new store development and Vice President of Business Planning responsible for leading Pandas strategic and annual planning process. 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Her career path has also included successful stops as vice president of a Silicon Valley marketing consulting firm, as an attorney at global law firm Morrison & Foerster and work in the not-for-profit and public sectors focusing on disconnected youth and human rights. His business insights have propelled Panda to become the world leader in Asian dining experiences, while his passion for continuous learning inspires a culture where associates are dedicated to developing their full potential. Further joined Baker University in Baldwin City, Kansas, United States. She previously worked with the sportswear brand from 2014 to 2017. Andrew Cherng (Chinese: ; pinyin: Chng Zhngchng;[2] pronounced Chur-ng; born April 1948) is a Chinese-born American billionaire restaurateur. Access your favorite topics in a personalized feed while you're on the go. [8] 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 did not need the money and citing concerns with the trouble and expense of dealing with shareholders. Also known as Peggytsiang Cherng, Peggy T Cheng, Cherng Tsiang. The Cherng Family Trust, their family office, is where the Cherngs put their wealth into investments. In 2004, she became co-chair and co-CEO of Panda Restaurant Group. "We are Chinese first-generation immigrants, and since we've been able to achieve the American dream, we feel a responsibility to pay it forward to the generations after us," Cherng says. Andrew Cherng, born in Yangzhou, China had a father who was a chef, but it was only after he had come to the United States to study math, and get a Bachelor of Science in mathematics from Baker University and a master's degree in applied mathematics from the University of Missouri, did he get into the restaurant industry. I earned a bachelors degree in applied mathematics in 1970. Inc. All rights reserved, Senior Vice President and General Counsel, Do Not Sell or Share My Personal Information. In 2008, Cherng was listed in Forbes' Twenty-Five Notable Chinese-Americans. [9], The company had expanded to 100 restaurants by 1993, with the opening of an outlet at the University of California, Los Angeles. After that, she went to the University of Missouri, where she graduated in 1971 with a masters degree in computer science and in 1974 with a PhD in electrical engineering. David holds a Bachelor of Science in finance and political science from the Wharton School of the University of Pennsylvania and a Master of Business Administration from UCLA Anderson School. More than anything else we, as a family, think a lot about stewardship. [3] He is the co-founder and chief executive officer (CEO) of Panda Express. Peggy is deeply committed to giving back to the communities in which Panda restaurants operate through Panda Cares, a philanthropic effort that has donated millions of dollars to non-profit organizations, schools and children's hospitals since its founding in 1999. Peggy Cherng Cofounder, Cochair, and Co-CEO, Panda Restaurant Group, Inc. Born in: Myanmar Born Peggy Tsiang in Myanmar (then Burma), Peggy Cherng grew up in Hong Kong and came to the United States to study at Baker University in Kansas in the 1960s. hitType: 'event', In June 2016, she joined Forbes' list of America's richest self-made women with an estimated net worth of $1.5 billion. Photo by Brinson Banks/Courtesy of Panda Restaurant Group. "I focus on fostering a growth mindset in myself and in our associates," she says. Nina Zipkin Cherng, who has a Ph.D. in electrical engineering, has worked at 3M and McDonnell Douglas and coded simulators for the U.S. Navy. [16] Their daughter Michelle is a primary/secondary school teacher. The study of what motivates consumers at their core is a new concept called valuegraphics. I remember there was this scene right after college where my father came to visit me. document.querySelector("#google_image_div").addEventListener('click',function(){ Co-chair and co-chief executive officer, Panda Restaurant Group, Clementi Middle School, Hong Kong, class of 1966, Oregon State University, Corvallis, class of 1970, University of Missouri, Columbia, classes of 1971 and 1974, Engineering specialist, McDonnell Douglas, Technical engineer, software department manager, Comtal-3M, Operations manager, Panda Restaurant Group, Co-chair and co-CEO, Panda Restaurant Group, Its important to establish a development program so people can grow into the position they aspire to., A company is built on people first, guests second, and financials third., I got a masters in math and a Ph.D. in electrical engineering. James brings a wide range of leadership experience spanning across different industries and countries. Peggy formerly worked on software development at McDonnell Douglas and Comtal-3M, where she coded battlefield simulators for the U.S. Navy. Leveraging her engineering background, Peggy developed the systems that support Panda's growth and help associates deliver consistent dining experiences to guests. Today, the Cherngs have amassed a combined net worth of $3.3 billion, making them two of the richest people in America. 0, Last Updated on December 14, 2022 by admin. Andrew and Peggy Cherng, co-chief executive officers of the parent company for fast food chain Panda Express, gave the money to benefit Mizzou's Honors College. My grandfather was back of the house, in the kitchen. [4] His father was Ming-Tsai Cherng, a chef. 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