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Friendly's CEO Resigns; Largest Shareholder Requests Seats
On September 28th, Friendly Ice Cream Corp. (FRN), announced CEO John L. Cutter had resigned. It was not immediately clear whether Mr. Cutter had been forced out. I mention the possibility that Mr. Cutter was forced out, because Friendly's largest shareholder, Sardar Biglari, included this disclosure in a recent 13-D: "The Reporting Persons have consulted with the Chairman of the Board of Directors and management of the Issuer concerning the business, operations and fu...

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Friendly's CEO Resigns; Largest Shareholder Requests Seats
On September 28th, Friendly Ice Cream Corp. (FRN), announced CEO John L. Cutter had resigned. It was not immediately clear whether Mr. Cutter had been forced out. I mention the possibility that Mr. Cutter was forced out, because Friendly's largest shareholder, Sardar Biglari, included this disclosure in a recent 13-D: "The Reporting Persons have consulted with the Chairman of the Board of Directors and management of the Issuer concerning the business, operations and fu...