Burger King Holdings, a global chain of hamburger fast food restaurants, announced Tuesday some changes of its board.
As a result of reduced ownership the representatives of three private equity funds – TPG Capital, Bain Capital Partners and the Goldman Sachs Funds – were liable to quit the board effective June 30.
John Chidsey was donated another role in addition to his status of CEO – chairman effective July 1.
The equity funds have been reducing their stake in the company since Burger King went public.
Prior to this offering, the equity funds owned about 43% of the company's outstanding shares. The funds now own only about 32% of the company's outstanding shares.