Bain Capital's Pagliuca Resigns From Burger King Board
September 23 2009 - 5:01PM
Dow Jones News
Stephen Pagliuca, managing director of Bain Capital Partners
LLC, has resigned from Burger King Holdings Inc.'s (BKC) board of
directors.
The resignation was effective Monday, according to a filing with
the Securities and Exchange Commission.
Pagliuca is vying for the Democratic nomination for the U.S.
Senate seat in Massachusetts to finish the term of the late Sen.
Edward Kennedy. He has said he would take a leave of absence from
Bain as well as the boards of directors on which he serves.
He has served on Burger King's board since 2002, when Bain and
other private equity firms bought the chain for $1.4 billion.
Burger King shares closed Wednesday at $17.37, down 63 cents, or
3.5%.
A Burger King spokesperson wasn't immediately available for
comment.
-By Paul Ziobro, Dow Jones Newswires; 212-416-2194;
paul.ziobro@dowjones.com