Cracker Barrel reviewing Biglari claims on chairman experience
Oct 8 (Reuters) - A Cracker Barrel Old Country Store Inc spokesman said the company is reviewing a letter sent by its largest shareholder, Biglari Holdings Inc, that questioned its incoming chairman's professional experience.
In a letter to the casual dining chain's board, Biglari Holdings' chief executive, Sardar Biglari, said the company had publicly stated on several occasions that its the new chairman James Bradford had been the CEO of a New York Stock Exchange-listed company, AFG Industries, from 1992 to 1999.
However, a public search revealed that AFG was taken private four years before Bradford was appointed CEO of the glass maker, Biglari said in the letter released on Monday.
Bradford is slated to take over when current chairman Michael Woodhouse steps down in November.
"If Bradford has embellished his professional record, we believe this undermines his credibility. Therefore, the board must determine whether (he) should continue in his present capacity," Biglari said.
The activist investor, who controls more than 17 percent of Cracker Barrel, has been engaged in a proxy battle with the company since last September and is trying to install himself and an associate on its board.
Shares of Cracker Barrel closed at $67.47 on the Nasdaq on Monday.
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