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.
Sardar Biglari wasn't going to let slide by the recent swipe at him by the board of Cracker Barrel Old Country Store, which is seeking shareholder approval to extend a poison pill plan designed to stop Biglari from growing his stake in the restaurant and retail company. In a response filed with the Securities and Exchange Commission last week, Biglari says he hasn't talked to anyone at Cracker Barrel for 18 months and points out there are 164 million reasons for him not to add to his stake in the Lebanon-based company.
The multi-year governance and strategy spat between Cracker Barrel Old Country Store and investor Sardar Biglari may have gone a little quiet in recent months, but that doesn't mean the board of the restaurant and retail company is letting down its guard.
After renewing its poison pill plan this spring, the board is now asking investors to extend the shareholder rights plan through the spring of 2018, saying Biglari "remains a threat." The Texas-based investor and leader of Steak 'n Shake and other restaurant brands still controls nearly 20 percent of Lebanon-based Cracker Barrel.
Read Cochran's letter and see the company's presentation — trumpeting its recent track record, defending the poison pill and firing more governance shots at Biglari — in full here. Shareholders will vote at the company's annual meeting next month.