BLUM Growth Fund, LLC, activist shareholder in Cosi, Inc. (NASDAQ: COSI), today announced it has placed advertising in both the Wall Street Journal and Investor’s Business Daily this week that calls for shareholder input regarding the current state of the business at Cosi, Inc. This is the latest move by BLUM Growth Fund and its owner, Brad Blum, to drive the Board of Directors to implement a successful set of strategies for Cosi or step aside and allow new leadership to take the helm and achieve positive results.
Over the past several months Blum has offered specific strategies for the struggling chain to reverse its downward spiral and take its place with other well-performing, unique concepts in the high growth, fast casual restaurant segment. To date, the current Board of Directors has rejected or ignored any suggestions while Cosi continues to lose value.
Blum has offered to serve as CEO for the brand at a salary of $1 for the first year, with the stated goal of recouping the value of shareholder investments that Cosi’s position and potential have shown. Results would be achieved through a restructure of the Board of Directors, and a new plan for Cosi that focuses on a more differentiated, simplified and higher quality menu, better operations and improved cost controls.
In addition to an invitation for shareholders to contact chairman and interim CEO Mark Demilio directly, the BLUM Growth Fund advertisement calls for shareholders to voice their opinion on the BLUM Growth Fund website in the following ballot-style form found at www.blumgrowthfund.com.Taking It To The Streets People are expressing themselves in protest around the globe and in our own backyard on Wall Street. It may seem that ordinary citizens don’t have a voice when it comes to how businesses are run. But they do. It’s called Shareholder Democracy Shareholder Democracy is now called for at Cosi, Inc. If you wish to express your non-legally binding vote of no confidence to the chairman of Cosi Inc., send it to Mark Demilio at 1751 Lake Cook Rd., Suite 600, Deerfield, IL 60015. You can also visit www.blumgrowthfund.com to voice your opinion. Q: As a Cosi Shareholder, do you have the confidence that management can make the right decisions and find the right person to be the new CEO? Yes____ No ____ Q: As a Cosi Shareholder, are you proud of the company’s financial performance, especially compared to other major fast casual restaurants? Yes____ No ____ Q: As a Cosi Shareholder, are you happy with your investment and the current stock price? Yes____ No ____ Q: As a Cosi Shareholder, are you confident in the future of the company with the current Board of Directors? Yes____ No ____ Q: As a Cosi Shareholder, would you like a new CEO and Board of Directors who have communicated a plan to make the company profitable and who can create significant shareholder value? Yes____ No ____ About BLUM Growth Fund BLUM Growth Fund, LLC is a private entrepreneurial capital investments company that is part of BLUM Enterprises, LLC. Brad Blum is Founder and Owner of BLUM Enterprises, whose mission is to “Provide Good Food for the Planet.” Based in Winter Park, Florida, and with offices in New York City, BLUM Enterprises is a progressive company dedicated to creating and operating highly profitable restaurant brands that focus on providing good food with exceptional flavor and responsible nutrition. The company also invests entrepreneurial capital and works closely with established restaurant brands to achieve outstanding profitability and shareholder value using this approach. Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50043941&lang=en
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