(Adds stock jumps more than 6 percent)
By Michael Flaherty
NEW YORK May 24 Proxy adviser Institutional
Shareholder Services (ISS) recommended on Wednesday that owners
of Buffalo Wild Wings stock vote for board directors
nominated by activist hedge fund Marcato Capital Management.
"The dissident has presented a compelling case that
additional board change is warranted," ISS said in its research
Shares of Buffalo Wild Wings, a $2.5 billion wings and beer
chain based in Minneapolis, Minnesota, jumped more than 6
percent on news of the report, hitting $155.71.
ISS, an influential adviser to investment funds seeking
guidance on how to vote for proposals and director nominees at
annual shareholder meetings, put its weight behind Marcato
nominees Mick McGuire, the hedge fund's founder, and Scott
Bergren, the former chief executive of Yum Brands'
restaurant chain, Pizza Hut.
ISS did not recommend that shareholders support Marcato
nominee, Lee Sanders, the former chief development officer at
The proxy adviser said in its note that it also supported
board nominee Sam Rovit, the CEO of CTI Foods and a former
executive at Kraft Foods.
Rovit, who was originally nominated by Marcato and then
later nominated by the company as well, is running for a board
Buffalo Wild Wings will hold its annual meeting on June 2.
(Reporting by Michael Flaherty; Editing by Bernard Orr and