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Monday, December 15, 2014

Bob Evans CEO resigns as part of board revamp, (NASDAQ: BOBE)

Bob Evans Farms Inc said Chief Executive Steve Davis has resigned by mutual agreement effective immediately as its board steps up efforts to revamp the restaurant and packaged food company following a proxy fight.Bob Evans said its independent board members unanimously concluded that the company would benefit from a new leadership as it strives to improve performance.Bob Evans's recent performance under Davis has failed to meet the expectations of the board, the Wall Street Journal reported, quoting Non-Executive Chair Mary Kay Haben."In the beginning he had a good tenure, but at this point, business results are not what we'd like and not what we're capable of," the Journal quoted her as saying. (

Bob Evans Farms, Inc. (Bob Evans) is a full-service restaurant company that operates Bob Evans Restaurants. Shares of BOBE traded higher by 0.42% or $0.21/share to $50.51. In the past year, the shares have traded as low as $42.28 and as high as $55.99. On average, 416791 shares of BOBE exchange hands on a given day and today's volume is recorded at 218815.