By Will Feuer


FAT Brands Inc. said it has overhauled its board, removing most of its independent directors and dissolving some committees amid continuing government investigations into the company.

The company, which franchises various restaurants like Fatburger and Johnny Rockets, said Monday that an entity with the majority of voting power in the company removed Kenneth Anderson, Lynne Collier, Amy Forrestal, James Neuhauser and Edward Rensi from its board last week.

FAT Brands is controlled by Fog Cutter Holdings LLC, which is controlled by a board of managers comprised of FAT Brands founder and Chief Executive Andrew Wiederhorn, as well as Taylor Wiederhorn, Thayer Wiederhorn and Mason Wiederhorn. FAT Brands said last month that Mr. Wiederhorn would step down as CEO of FAT Brands once the company found an interim CEO.

Donald Berchtold, Tyler Child, Kenneth Kepp, Mark Elenowitz, Carmen Vidal, Mason Wiederhorn, Taylor Wiederhorn and Thayer Wiederhorn were named to the FAT Brands board. Mr. Berchtold and Messrs. Wiederhorn are related to Andrew Wiederhorn, who is named in Monday's securities filing as chairman of the company.

Ms. Collier was re-appointed as a director and Mr. Rensi was also re-appointed but declined to re-join the board, the company said.

The company said it has elected "controlled company" status and dissolved its board's compensation committee and nominating and corporate governance committee.

FAT Brands previously disclosed that the U.S. Attorney's Office for the Central District of California and the Securities Exchange Commission are investigating the company and Andrew Wiederhorn. FAT Brands' board had formed a Special Review Committee comprised of directors other than Andrew Wiederhorn to oversee a review of the issues raised by the investigations.

The company has said it doesn't believe it is the target of the U.S. Attorney's investigation.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

04-03-23 1629ET