HAKINMHAN/iStock/Thinkstock(MINNEAPOLIS) — Buffalo Wild Wings CEO Sally Smith will step down from that role at the end of the year, the company announced on Friday, after more than 20 years with the company.
Coinciding with the change in leadership, the company’s shareholders chose a number of new members of the board, including three nominees from Marcato Capital Management, which owns ten percent of the company. The vote came at the end of months of disputes between the hedge fund and the restaurant chain, with Marcato having accused Buffalo Wild Wings of treating franchisees unfairly. The chain responded by saying that Marcato’s founder and managing partner had a “track record of losses in the boardroom,” according to Business Insider.
Also elected to the board were Scott Bergren, former CEO of Pizza Hut, and Sam Rovit, CEO of food-service company CTI Foods, company nominee Janice Fields — a former McDonald’s executive, and five incumbent members.
McGuire is expected to push for the sale of company-owned restaurants to franchisees and push for innovation in the chain’s menu.
“I am proud of Buffalo Wild Wings’ tremendous success,” Smith said in a statement. “I will focus on leading Buffalo Wild Wings and driving value-creating change until we are ready to make a smooth transition.”
“I am confident that the company, including its excellent management and Board, are solidly positioned for its next phase of growth and development,” she added.
Shares of Buffalo Wild Wings stock jumped about five percent after the announcement, but finished Friday’s session up only about 1.8 percent.
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