Back Yard Burgers Announces Plans to Separate Chairman and CEO Positions; Management Restructuring
27 Febbraio 2006 - 1:00PM
Business Wire
The Board of Directors of Back Yard Burgers, Inc. (Nasdaq: BYBI)
(the "Company") today announced plans to separate the Chairman and
Chief Executive Officer positions of the Company. The Board of
Directors also accepted the resignation of Michael W. Myers from
his positions as President and Chief Operating Officer of the
Company, effective immediately. The Board of Directors will conduct
an executive search for an individual to serve as the Chief
Executive Officer/President of the Company. Mr. Lattimore M.
Michael, Chairman and Chief Executive Officer of the Company, will
continue to serve as Chief Executive Officer until a new
CEO/President is appointed by the Board of Directors. The Board of
Directors expects that, after the appointment of a new
CEO/President, Mr. Michael will continue to serve as Chairman of
the Board but would not serve as an executive officer of the
Company. In connection with the matters described above, the Board
of Directors appointed Joseph L. Weiss to serve as Chief Operating
Officer on an interim basis until a new CEO/President is retained.
Mr. Weiss has served as a director of the Company since 1989 and is
currently president of A. Weiss Company, a franchisee of the
Company. From 1993 to 1999, Mr. Weiss was President and Chief
Operating Officer of the Company. Because of his appointment as
interim Chief Operating Officer, Mr. Weiss has resigned from his
positions on the Board's Audit Committee and Compensation
Committee. About Back Yard Burgers: Back Yard Burgers operates and
franchises quick-service restaurants in 20 states, primarily in
markets throughout the Southeast region of the United States. The
restaurants specialize in charbroiled, freshly prepared,
great-tasting food. As its name implies, Back Yard Burgers strives
to offer the same high-quality ingredients and special care
typified by outdoor grilling in the backyard. Its menu features
made-to-order gourmet Black Angus hamburgers and chicken sandwiches
- charbroiled over an open flame, fresh salads, chili and other
specialty items, including hand-dipped milkshakes, fresh-made
lemonade and fresh-baked cobblers.
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