The Board of Directors of The Steak 'n Shake Company (NYSE: SNS) announced yesterday that Alan B. Gilman, former co-chairman, has been elected chairman of the board effective immediately.
Gilman, Chief Executive Officer of the company, had served as co-chairman with E.W. “Ed” Kelley until his death on July 4, 2003. He will continue in his role as CEO.
Wayne L. Kelley, president of Kelley restaurants, the system’s largest franchisee in Atlanta and Charlotte, was elected to serve on the Board of Directors. "Wayne Kelley's appointment to the Board will enhance the Board's operational insight" noted Chairman Gilman. "Wayne's election will continue a Kelley presence on the Board."
In addition Mary Ham, Vice President, Secretary, and General Counsel, is resigning as general counsel effective immediately. David Milne, formerly corporate counsel for the company, will replace Ham as general counsel. Ham will retain her positions as vice president and secretary. Gilman praised Ham for her service and contributions to Steak 'n Shake, noting particularly her mentoring Milne for his new role.
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