O’Charley’s (CHUX) Announces Agreement with Crescendo Partners
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O’Charley’s Inc. (Nasdaq: CHUX) had entered into an agreement with Crescendo Partners, a holder of approximately 12 percent of the Company’s common shares. Crescendo Partners had announced in December 2007 that it intended to nominate a slate of four directors to the Company’s nine-member Board at the Company’s 2008 annual meeting.
Pursuant to the agreement, O’Charley’s has expanded its Board to 11 Directors and appointed to the Board Messrs. Arnaud Ajdler, a managing director of Crescendo Partners, Gregory Monahan, a senior vice president of Crescendo Partners, and Douglas Benham, the former President and Chief Executive Officer of Arby’s Restaurant Group. [SM]
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