Marcato Responds to Buffalo Wild Wings’ Appointment of Three New Directors
October 11 2016 - 4:23PM
Business Wire
Marcato Capital Management LP (“Marcato”), a San Francisco-based
investment manager which manages funds that beneficially own
approximately 5.2% of the outstanding common shares of Buffalo Wild
Wings, Inc. (NASDAQ:BWLD) (“Buffalo Wild Wings” or the “Company”)
today issued the following statement in response to appointment of
three new directors to the Company’s Board of Directors.
“After attempting to engage in substantive dialogue with Buffalo
Wild Wings for months, we are deeply disappointed by the Company’s
unilateral decision to reconstitute its Board without consulting us
or other outside shareholders. Rather than working collaboratively
with its investors, Buffalo Wild Wings has opted to exercise poor
judgment, taking entrenching actions to create the illusion of
change without showing any real openness to new voices and
desperately-needed new ideas. Marcato has raised a number of
significant strategic, operational and financial issues. We are
convinced that, even with these new additions, the Board lacks a
sufficient level of restaurant operations and franchise system
development expertise and would benefit further by adding
shareholder representatives.”
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version on businesswire.com: http://www.businesswire.com/news/home/20161011006672/en/
Media:Gasthalter & Co.Jonathan Gasthalter/Nathaniel
Garnick, 212-257-4170orInvestors:Innisfree M&A
IncorporatedScott Winter/Larry Miller, 212-750-5833
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