The CEO of Bob Evans Farms, Steve Davis, is stepping down after more than eight years on the job – as the restaurant operator works on improving its performance. Bob Evans said Monday that Chief Financial Officer Mark Hood and Mike Townsley, president of the Bob Evans Foods division, will help run the company while it looks for a permanent replacement. Both Hood and Townsley will remain in their current roles while taking on new responsibilities. Non-executive chair Mary Kay Haben said, ‘The independent directors unanimously concluded that as the company strives to improve performance, it would benefit from new leadership and enhanced execution.’ Activist investor Sandell Asset Management has been pushing for changes at Bob Evans for some time, suggesting the company sell or spin off its food products business. Steve Davis is also giving up his position as a board member.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
