Bj’s Restaurants (BJRI) just unveiled an announcement.
BJ’s Restaurants, Inc. has entered a Cooperation Agreement with Fund 1 Investments, LLC, leading to an expansion of its Board to twelve members and the appointment of C. Bradford Richmond, a seasoned professional with over 40 years of experience in restaurant operations and finance. The agreement includes the formation of a committee focusing on shareholder value, standstill restrictions for the Fund, and voting agreements, all aimed at strategically enhancing shareholder returns. Richmond’s extensive background, including a tenure as CFO of Darden Restaurants and roles at Red Lobster and Olive Garden, positions him as a valuable asset to the Board.
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