Western Sizzlin Announces Appointment of Sardar Biglari as Chairman of the Board
Western Sizzlin Corporation (OTC Bulletin Board: WSZZ), announced that the Board of Directors of the Company has appointed Sardar Biglari, Chairman and Chief Executive Officer of The Lion Fund, as Chairman of the Board and accepted the resignation of six serving directors, all effective March 21, 2006.
Sardar Biglari said, "Western Sizzlin will be led by a Board that is financially committed and genuinely interested in providing the leadership to create value for all of our shareholders. I myself am very excited to help direct a company towards fulfilling its promise. The Board of Directors intends to participate actively in our pursuit of success. It is with gratitude that we say farewell to the former board members who have helped navigate the firm through difficult times. We their successors will be tireless in building the business for the benefit of all stakeholders."
Mr. Biglari is the Chairman and Chief Executive Officer of Biglari Capital Corp. based in San Antonio, Texas. His firm is a registered investment adviser and the general partner of The Lion Fund, L.P., an investment limited partnership owning approximately 16% of the Company's outstanding common stock.
Resigning from the Board of Directors are Messrs. Paul C. Schorr, III, J. Alan Cowart, Roger D. Sack, A. Jones Yorke, Jesse Harrington and Pat Vezertzis. Mr. Paul D. Sonkin will not stand for re-election as a Director when his current term expires at the 2006 Annual Meeting of Stockholders.
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