Fat Brands CEO Andy Wiederhorn to step aside

FAT Brands announces that its founder and CEO, Andy Wiederhorn, will transition to a new role as an outside consultant and strategic advisor to the company effective May 5. Wiederhorn will remain a FAT Brands Board member and his family office, Fog Cutter Holdings LLC, will continue as the controlling shareholder of FAT Brands. The appointment of an interim CEO will be announced prior to the transition date, and Wiederhorn will continue as CEO until then. In his strategic advisory role, Wiederhorn will continue to support the management team and the company while focusing his time on the company’s long-term strategy and capital allocation plans. In transitioning from his role as CEO, Wiederhorn seeks to eliminate the distraction of the previously announced government investigation tied to him, and allow senior management to focus on continuing to drive shareholder value.