Cracker Barrel Responds To Biglari Nominations; Says "Disappointed That Biglari Has Chosen To Launch Another Distracting And Costly Proxy Contest, The Company's Nominating And Corporate Governance Committee Will Thoughtfully Consider Biglari's Nominations"
Portfolio Pulse from Benzinga Newsdesk
Cracker Barrel is facing another proxy contest from Biglari Holdings, which has nominated five candidates for the company's Board of Directors. This marks the seventh proxy contest by Biglari in 13 years, with previous attempts being rejected by shareholders. Cracker Barrel's Board, led by new CEO Julie Masino, is focused on strategic transformation and will consider Biglari's nominations.
August 19, 2024 | 1:03 pm
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Cracker Barrel is dealing with another proxy contest from Biglari Holdings, which has a history of unsuccessful attempts to influence the Board. The company's focus remains on strategic transformation under new CEO Julie Masino.
The repeated proxy contests by Biglari Holdings have historically been rejected by shareholders, indicating limited impact on Cracker Barrel's governance. The company's strategic focus under new leadership suggests stability, but the contest could cause short-term distractions.
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