Too old & no rest. experience make this questionable.
On August 14, 2012, the Board of Directors (the “Board”) of Biglari Holdings Inc. (the “Company”) increased the size of the Board to six members and elected James P. Mastrian as a director of the Company. The Board also appointed Mr. Mastrian to serve on both the Audit Committee and the Governance, Compensation and Nominating Committee.
Mr. Mastrian, age 69, retired from Rite Aid Corporation in August 2008. He was the special advisor to the Chairman and Chief Executive Officer. Prior to that, from October 2005 to August 2007, he was the Chief Operating Officer of Rite Aid Corpo
Wonder why, if he is tight with Biglari, did he step down at CAW ?
EAST RUTHERFORD, N.J., Aug. 20, 2012 /PRNewswire/ -- CCA Industries, Inc. (NYSE MKT: "CAW") announced today that Jonathan Rothschild has been appointed as a director to fill the remaining term of James Mastrian. Mr. Mastrian has resigned as a director of the Company as of August 15, 2012. Stanley Kreitman, the Company's Chairman of the Board, stated "We are very pleased that Jonathan Rothschild has joined our board. Jonathan is President and CEO of Arterio, Inc., which is in the vitamin and supplements business, and a director of Immucell, Inc., a NASDAQ listed biotechnology company, and serves on their audit committee. He is also a director of the Anne Frank Center USA, a not-for-profit organization. Jonathan is a major shareholder, having a beneficial interest in 221,478 shares of CCA common stock. We look forward to working with Jonathan and thank Jim Mastrian for his past service, wishing him well in his future endeavors."
To be a good director of a company like BH, the fact that this guy presided over a multi-chain retail operation like Rite-Aid is more impt. to me than that he had specific restaurant experience. Many of the economics of running an operation like Rite-Aid dovetail quite nicely with what BH is doing anyway.