Shareholders of Cracker Barrel Old Country Store have voted to extend the poison pill adopted by the company's board this spring all the way to 2018. The mechanism is designed to deter activist Sardar Biglari, who in turn says he's not interested in growing his stake in the company.
The company is promising exact vote numbers soon but it's likely the decision was pretty clear: Biglari's initiatives have been losing support in recent years.
An executive who joined the board of Delek US Holdings earlier this year has resigned from the body to pursue other ventures.
Yonel Cohen came to Delek after the Brentwood-based company acquired a 48 percent stake in Alon USA Energy. Cohen was one of five Alon directors who stepped aside to make room for Delek representatives but soon after was named to Delek’s board.
In a filing with regulators, Delek says his resignation was not because of any disagreement with the company over its operations, policies or practices.
Cohen is, among other things, chairman of the board of Golden House Ltd., a company listed on the Tel Aviv Stock Exchange, and a former CEO of Migdal Group, the largest insurance group in Israel.
Shares of Delek (Ticker: DK) rose more than 3 percent to $26.66 Wednesday. Year to date, they’re off slightly.
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