Source Pravda.Ru

Burger King Holdings faces some staff changes

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.