Steven Becker and Matthew Drapkin to Join Ruby Tuesday Board of Directors


Ruby Tuesday, Becker Drapkin, and Carlson Capital, L.P. appointed Steven Becker and Matthew Drapkin to the Board of Director as independent members effective June 30. In exchange for the agreed settlement of appointees, Becker Drapkin and Carlson Capital, L.P. will withdraw the separate nominations of Becker, Drapkin, and Michael Brodsky to the Board of Directors and will vote in favor of each of the Board’s nominees for election at the 2011 shareholder meeting.

The 742-unit Ruby Tuesday chain will increase the size of its Board from eight to nine members with the appointment of Becker and Drapkin, and the vacancy of one Board seat. The company is bidding farewell to current Board member R. Brad Martin, who retires today from the Company’s Board of Directors.

"Steve’s and Matt’s appointment to the Board will further enhance the quality of our corporate governance, in addition to bringing potential new ideas to the table given their previous Board experiences,? said Chairman and CEO Sandy Beall.

Becker's experience in the private equity industry is well-established. He has served as Managing Partner and Founder of Becker Drapkin since 2004. Prior to founding Becker Drapkin, he was a partner at Special Situations Funds, asset management firm in New York City and worked in research at Bankers Trust Securities. Becker holds a B.A. from Middlebury College and a J.D. from the University of Florida.

Drapkin has been a partner at Becker Drapkin since 2009. Prior to joining Becker Drapkin, he served as head of research, special situations, and private equity for New York-based hedge fund ENSO Capital. Drapkin holds a B.A. in American History from Princeton University, an M.B.A. in Finance from Columbia University School of Business, and a J.D. from Columbia University School of Law.

Ruby Tuesday operates and franchises namesake restaurants in 46 states, 15 countries internationally, and Guam. It is also a licensee of the Lime Fresh Mexican Grill concept, and will help development of a 200-store pipeline for the Mexican style QSR chain.

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Source: Business Wire

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