Yesterday, Brazil Fast Food Corp. announced the results of their 2011 annual stockholder meeting held on June 30, 2011 at Brazil Fast Food’s corporate headquarters.
Brazil Fast Food Corp. is the second largest fast-food restaurant chain in Brazil with 781 points of sale. The Company operates under the Bob’s brand, KFC and Pizza Hut São Paulo as franchisee of Yum! Brands, and Doggis as franchisee of Grupo de Empresas Doggis S.A.
At the Company’s 2011 annual stockholder meeting, five directors received election to serve on Brazil Fast Food Corp.’s Board until the annual meeting of shareholders in 2012. This is as set out in Brazil Fast Food’s definitive proxy statement. Guillermo Héctor Pisano, Gilberto Tomazoni, Gustavo Alberto Villela Filho, Marcos Rocha, and Marcos Gouvêa de Souza received reappointment to the Board.
The Board also designated the composition of their standing audit and compensation committees. Mr. Rocha and Mr. Pisano will serve on the Company’s Audit Committee, and Mr. Villela Filho, Mr. Gouvêa de Souza and Mr. Pisano will serve on the Company’s Compensation Committee.
In addition, at this meeting, Brazil Fast Food’s Audit Committee recommended, and the Board approved, the appointment of KPMG Auditores Independentes (a unit of KPMG International) as the Company’s independent auditor. KPMG Auditores Independentes acquired the Company’s previous independent auditor, BDO Auditores Independentes, a unit of BDO International Ltd., in March of 2011.
Ricardo Bomeny, Brazil Fast Food Corp.’s Chief Executive Officer, stated, “We are pleased to announce the reelection of five directors to our Board, which this year was reduced from seven to five members. Our Board members provide Brazil Fast Food with an invaluable range of industry experience, expertise and insight, and I look forward to continuing to work with each of them to strengthen our industry leading brands and to best position the Company for continued profitable growth.”
Headquartered in Rio de Janeiro, Brazil, Brazil Fast Food Corp. owns and operates (both directly and through franchisees) the second largest fast-food restaurant chain in Brazil. The Bob’s trade name is used by Venbo Comércio de Alimentos Ltda, a subsidiary of Brazil Fast Food holding company, BFFC do Brasil Participações Ltda.
CFK Comércio de Alimentos Ltda, also a holding company subsidiary, uses the “KFC” trade name. The “Pizza Hut” trade name is used by Internacional Restaurantes do Brasil (IRB), also a 60 percent subsidiary of Brazil Fast Food holding company, BFFC do Brasil Participações Ltda.
Brazil Fast Food Corp. recently entered into an agreement with Grupo de Empresas Doggis S.A (GED). This agreement is to cross-franchise the Bob’s and Doggis brands in Chile and Brazil, respectively. Brazil Fast Food will control the Doggis master franchise in Brazil. GED will control the Bob’s master franchise in Chile.
For more information visit: www.bffc.com.br