– USA, TX – Fiesta Restaurant Group, Inc. (NASDAQ: FRGI), the parent company of the Pollo Tropical and Taco Cabana fast-casual restaurant brands, today announced that Andrew Rechtschaffen will be added to the Board of Directors as a new independent director. The Board will expand to nine directors and Mr. Rechtschaffen will be appointed as a director during an upcoming Board meeting later this month.
“Fiesta has a long history of constructive engagement with all of our shareholders, including AREX,” said Stacey Rauch, Chair of the Board of Fiesta. “The Board looks forward to working collaboratively with Andrew as the Company continues to review all strategic options to unlock the value of its brands.”
“We are pleased to welcome Andrew to the Board,” said Richard Stockinger, CEO. “He brings financial expertise that Fiesta looks forward to leveraging as we drive value for the Company and our shareholders.”
About Andrew Rechtschaffen
Mr. Rechtschaffen founded AREX Capital Management, LP, a value-oriented investment firm, in October 2017. Prior to founding AREX, he was a partner at Greenlight Capital, founder and portfolio manager of Obrem Capital, and a managing director in the Principal Strategies Group at Citadel Investment Group.
“We appreciate the proactive and productive approach by Fiesta’s Board and management in its engagement with shareholders,” said Mr. Rechtschaffen. “I look forward to working with the rest of the Board to help Fiesta maximize shareholder value.”
About Fiesta Restaurant Group, Inc.
Fiesta Restaurant Group, Inc. is the parent company of the Pollo Tropical and Taco Cabana restaurant brands. The brands specialize in the operation of fast-casual restaurants that offer distinct and unique tropical and Mexican inspired flavors with broad appeal at a compelling value.
For more information: https://www.frgi.com
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