MEMPHIS, Tenn. —The board of directors of Back Yard Burgers announced plans to separate the chairman and chief executive officer positions. According to a news release, the board of directors also accepted the resignation of Michael Myers from his positions as president and chief operating officer, effective immediately.
Mike Webb, the company's chief financial officer, would not divulge why Myers resigned, but said the new structure is a more efficient way of doing business.
"I think you will see a trend in our industry of companies separating the president and chairman positions," Webb said. "The basic logic is to disperse authority."
The board will conduct an executive search for an individual to serve as CEO and president. Lattimore Michael will serve as CEO until a new one is appointed.
Back Yard Burgers operates and franchises quick-service restaurants in 20 states, primarily in markets throughout the Southeast region of the United States.
