Effective July 25, 2023, the Board of Directors of FAT Brands Inc. increased the size of the Board from eleven to twelve persons and appointed two new independent directors to fill the vacancies on the Board for a term expiring at the Company?s 2023 Annual Meeting of Stockholders. The new directors are Peter R. Feinstein and Matthew H. Green, who have also been appointed to the Audit Committee of the Board. Mr. Feinstein is an experienced operator of restaurant and entertainment properties, including Fatburger, Sugar Factory, El Dorado Cantina, Country Star Restaurants and Sapphire Gentlemen?s Club.
He is also a retired certified public accountant, having served in senior management and audit roles with Kenneth Leventhal & Co. and Fox & Co. Mr. Feinstein received a Bachelor of Science degree in Accounting from UCLA.
Mr. Feinstein is a part owner of two Fatburger franchisees that own stores in Nevada which pay to the Company a standard royalty rate on net sales plus marketing fees, which amounted to an aggregate of $0.4 million in 2022 and $0.2 million in 2023 through the date of this report. Mr. Green is an experienced finance professional based in London, over 30 years? experience as a merchant banker, focused primarily on the real estate, infrastructure, and energy sectors for clients including private equity firms, pension funds, sovereign wealth funds and family offices.
Mr. Green received a bachelors degree in business administration from the University of Washington.