Friendly’s CEO Resigns; Largest Shareholder Requests Seats

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 …

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