FAT Brands Inc. Founder Andy Wiederhorn to Step Aside as CEO and Transition to Strategic Advisory Role in May 2023
06 Marzo 2023 - 10:30PM
FAT (Fresh. Authentic. Tasty.) Brands Inc. 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, 2023. Mr. 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 Mr. Wiederhorn will continue as CEO until
then.
In his strategic advisory role, Mr. 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, Mr.
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.
“While I will be stepping aside as CEO, I will
continue to support the growth and evolution of FAT Brands,
including championing our talented executive team, which has over
the past five years taken the Company from two brands to 17 iconic
restaurant brands with over 2,300 units and systemwide sales of
$2.2 billion annually,” said FAT Brands CEO Andy
Wiederhorn. “In 2022 we were named Public Company of the
Year by the Los Angeles Business Journal, due in large
part to the hard work and dedication of our corporate teams and
franchise partners.”
For more information on FAT Brands, please visit
www.fatbrands.com.
About FAT (Fresh. Authentic. Tasty.)
BrandsFAT Brands (NASDAQ: FAT) is a leading global
franchising company that strategically acquires, markets, and
develops fast casual, quick-service, casual dining, and
polished casual dining concepts around the world. The Company
currently owns 17 restaurant brands: Round Table Pizza, Fatburger,
Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great
American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express,
Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native
Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza
Steakhouses, and franchises and owns over 2,300 units worldwide.
For more information on FAT Brands, please
visit www.fatbrands.com.
MEDIA CONTACT: Erin Mandzik, FAT
Brandsemandzik@fatbrands.com860-212-6509
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