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MarketFoolery

Sally Smith’s Mic Drop

MarketFoolery

The Motley Fool

Money, Business, Motley, Business News, Stocks, News, Investing, Market, Fool

4.71.7K Ratings

🗓️ 5 June 2017

⏱️ 19 minutes

🧾️ Download transcript

Summary

Activist investor group Marcato Capital won a proxy fight to get three board seats at Buffalo Wild Wings, and longtime CEO Sally Smith has decided to retire. Jason Moser and Taylor Muckerman analyze Smith’s incredible track record and wish good luck to whoever has to fill the enormous shoes she leaves behind. Plus, we share highlights from FoolFest 2017.

Thanks to Casper for supporting The Motley Fool. Save $50 on a mattress at www.casper.com/fool and use the promo code “fool”.

Transcript

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0:00.0

Thanks to Casper for sponsoring this episode of Market Foolry.

0:02.6

For $50 off any mattress, go to Casper.

0:04.8

Com slash Fool and enter the promo code Fool.

0:07.8

It's Monday June 5th.

0:11.2

Welcome to Market Foolery.

0:12.4

I'm Chris Hill joining me in studio today from Stock

0:14.2

Advisor Canada, Taylor Markerman, and for a million dollar portfolio, Jason Moser.

0:18.3

Happy Monday, Jen.

0:19.4

Hello, hello. We all survived Foolfest. Of course. It was a great time. It was. We're going to talk a little bit about Foolfest and some of the takeaways from our two-day investing event and there was a lot. There was a lot of content, a lot of investing, a lot of stock ideas, a lot of great stuff.

0:35.0

I think we got to start though with last Friday's action at the Buffalo Wild Wings annual meeting.

0:44.0

Yeah.

0:45.0

Activist investor group Marcato Capital won a proxy fight to get three seats on the board of directors and CEO Sally Smith said thank you I'm out of

0:56.7

here and she is going to leave the company before the end of the year we don't

1:01.7

know the exact date we used let's just

1:06.1

start with this Jason were you surprised no we surprised that they got the seats

1:10.4

and that's like were you surprised by that one-two punch of they got the seats and that should like were you surprised by that one two punch of they

1:13.8

got the seats they wanted they won the proxy vote and she said I'm out of here yeah

1:18.3

well I mean I didn't I wasn't surprised that they got the seats because they own

1:21.4

almost 10% of the company and it's kind of what they do right so I mean

1:25.3

my thinking was if they got that my belief was that Sally was probably just going to

1:30.5

wipe her hands and the whole matter and just right off into the sunset and

1:34.1

honestly I think that's the right decision for her.

...

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