Engaged Capital plans reshuffle at Shake Shack

The Glen Welling-run activist investor, Engaged Capital, is planning a reshuffle at burger chain Shake Shack. A battle is on to gain three directors there, per The Wall Street Journal.

An activist investor buys a minority stake in a company, to gain its control, and to change how it’s run.

Engaged, which has a 6.6% stake in Shake Shack, has been in talks with the management for a restructuring.

At loss
Shake Shack posted a Q1 loss of $0.01 per share. But it outperformed the market by revenues of $253.28 million.

In the past, Engaged had pushed Del Frisco to sell itself and urged medical device maker HeartWare International to terminate its acquisition of Valtech Cardio.