Buffalo Wild Wings Inc (BWLD): Activist Richard McGuire’s Marcato Capital Demands Sweeping Changes

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Page 15 of 49 – SEC Filing
EPS (not net income), and ROIC and total shareholder return — all of which are absent from management’s incentive compensation design.
We are confident that Buffalo Wild Wings is in a strong position to compete and succeed in the future. However, we believe this opportunity will be squandered if our concerns highlighted here are not addressed with urgency.  We look forward to a vigorous discussion of these factors with the Board and management going forward.
Sincerely,
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Mick McGuire
CC:
Dale Applequist
Cynthia Davis, Compensation Committee
Michael Johnson, Chairman of Compensation Committee
Warren Mack
Oliver Maggard, Compensation Committee
Jerry Rose
Sally Smith, CEO, President

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