Shareholder Activism Practice Negotiates Two More Board Seats and Governance Improvements for Engaged Capital at Shake Shack
Olshan client Engaged Capital reached an agreement with Shake Shack for two new independent directors to join Shake Shack’s board. Shake Shack also agreed to retain a consulting firm to support operational initiatives to improve restaurant execution, cost structure and profitability. As part of the agreement, Chairman Danny Meyer also agreed to an immediate reduction and subsequent elimination of his director designation rights.