Oct 11 Restaurant operator Buffalo Wild Wings
Inc named three independent directors to its board,
ignoring activist hedge fund Marcato Capital Management's offer
of a nominee.
The company said on Tuesday it appointed Andre Fernandez,
Hal Lawton and Harmit Singh, expanding its board to nine from
Marcato, which holds a 5.2 percent stake in Buffalo Wild
Wings, said in August that it would be "inappropriate" to add
new directors without consulting its major shareholders and
offered a "senior" Marcato executive to serve on the company's
The hedge fund called on the casual restaurant operator to
shake up its board, saying "substantial changes" were essential
for its success.
Buffalo Wild Wings needed "the introduction of fresh talent
at both the board and management levels," Marcato founder Mick
McGuire wrote in a letter, saying more expertise in restaurants
and corporate finance is needed.
(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by