Diversified Restaurant Holdings Announces Board of Director Changes
September 06 2018 - 6:30AM
Business Wire
Diversified Restaurant Holdings, Inc. (Nasdaq: SAUC) ("DRH" or
the "Company"), one of the largest franchisees for Buffalo Wild
Wings® ("BWW") with 64 stores across five states, announced that,
effective August 30, 2018, Gregory J. Stevens has resigned from the
Company’s Board of Directors in order to focus his efforts on his
other businesses. Concurrently, the Company announced the
appointment of Roger Lipton to its Board of Directors, where it is
also anticipated that he will replace Mr. Stevens on the
Compensation Committee.
“On behalf of the Board of Directors and management team, I
would like to express our sincerest gratitude to Greg for his
outstanding contributions to DRH since our inception. We wish him
all the best in his future endeavors,” commented Michael Ansley,
Executive Chairman.
Mr. Ansley added, “Roger is an accomplished investment
professional who brings very relevant skills and experience to our
Board. His unique perspectives and deep expertise in the restaurant
industry will be extremely valuable at a time when DRH is
positioning itself for its next stage of growth".
Mr. Lipton is an investment professional with more than four
decades of experience specializing in restaurants and retailers. He
earned a B.S. in Mechanical Engineering at Rensselaer Polytechnic
Institute and an MBA at Harvard. After working as an auditor with
PricewaterhouseCoopers for two years, he began a career on Wall
Street, where he focused on the restaurant and franchising
industries, from which he then moved on to build and operate a
chain of fast casual restaurants in Canada. He subsequently spent
13 years at Ladenburg, Thalmann & Co., Inc., where he
managed the Lipton Research Division, specializing in the
restaurant industry. While at Ladenburg, he sponsored
an annual restaurant conference for investment
professionals. He formed his own firm, Lipton Financial Services,
Inc. in 1993 to invest in restaurant and retail companies. Mr.
Lipton currently serves on the board of Barfly Ventures, operator
of the HopCat chain of casual dining restaurants.
About Diversified Restaurant Holdings, Inc.
Diversified Restaurant Holdings, Inc. is one of the largest
franchisees for Buffalo Wild Wings with 64 franchised restaurants
in key markets in Florida, Illinois, Indiana, Michigan and
Missouri. DRH’s strategy is to generate cash, reduce debt and
leverage its strong franchise operating capabilities for future
growth. The Company routinely posts news and other important
information on its website at
http://www.diversifiedrestaurantholdings.com.
Safe Harbor Statement
Some of the statements contained in this news release may
constitute “forward-looking statements” within the meaning of the
Federal Private Securities Litigation Reform Act of 1995. These
statements reflect the current views of our senior management team
with respect to future events, including our financial performance,
business and industry in general. Statements that include the words
“expect,” “intend,” “plan,” “believe,” “project,” “forecast,”
“estimate,” “may,” “should,” “anticipate,” and variations of such
words and similar statements of a future or forward-looking nature
are intended to identify such forward-looking statements. We intend
for our forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, and we set forth this
statement in order to comply with such safe harbor provisions.
Forward-looking statements involve known and unknown risks and
uncertainties and are not assurances of future performance.
Accordingly, there are or will be important factors that could
cause our actual results to differ materially from those indicated
in these statements, including, among others, the risks and
uncertainties disclosed in our annual reports on Form 10-K,
quarterly reports on Form 10-Q and other filings made with the
Securities and Exchange Commission. Any forward-looking statements
you read in this news release reflect our views as of the date of
this news release with respect to future events and are subject to
these and other risks, uncertainties, and assumptions relating to
our operations, results of operations, growth strategy, and
liquidity. You should carefully consider all of the factors
identified in this news release that could cause actual results to
differ.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180906005234/en/
Investors and Media:Kei Advisors LLCDeborah K. Pawlowski,
716-843-3908dpawlowski@keiadvisors.com
Diversified Restaurant (NASDAQ:SAUC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Diversified Restaurant (NASDAQ:SAUC)
Historical Stock Chart
From Apr 2023 to Apr 2024