Buffalo Wild Wings' (BWLD) activist investor Marcato Capital Management wants the restaurant chain to oust CEO Sally Smith in addition to the four board seats it has already been seeking, the Wall Street Journal reports.
Marcato is pushing for the company to franchise more restaurants, increase profit margins, and boost sales. The fund has a 6.1% stake in Buffalo Wild Wings and has already put its own candidate for CEO forward, sources told the Journal.
Buffalo Wild Wings stock was rising by 2.62% to $158.55 this morning.
(What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four of TheStreet's top columnists recently to get their views. Click here to listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)