Getting to Know Buffalo Wild Wings’ Management
The importance of management
In the long run, management decisions greatly impact the share price and bottom line of a company. So it’s important to keep updated with the management of a company you interested in getting exposure to.
Sally Smith, Buffalo Wild Wings’ (BWLD) current Chief Executive Officer and President, joined the company as Chief Financial Officer in 1994, when the company was weighed down by debt and on the brink of bankruptcy. Smith closed down many underperforming restaurants, created an infrastructure for accounting, marketing, finance, and human resource departments, and made the BWLD what it is today.
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The company’s condition has improved steadily under Smith, who redesigned the restaurants, changing them from a college bar concept to a sports bar and grill. Since 1994, Smith has played a vital role in increasing the company’s unit count from 35 to more than 1,000. She is also responsible for BWLD’s investments in emerging brands like PizzaRev and R Taco.
Jeffrey B. Sorum
On March 1, 2016, Jeffrey Sorum, formerly BWLD’s Senior Vice President and Corporate Controler, was promoted to Chief Accounting Officer and Interim Principal Financial Officer on March 1, 2016, after the retirement of Mary J. Twinem. (Twinem had served as CFO of BWLD since July 1996.)
James M. Schmidt
Since January 2011, James Schmidt has been serving as BWLD’s Chief Operating Officer. Previously, he had served as BWLD’s Executive Vice President and General Counsel in 2002. Before joining BWLD, Schmidt was an attorney at Robbins, Kelly, Patterson & Tucker.
You can gain exposure to BWLD and the restaurant industry by investing in the Consumer Discretionary Select Sector SPDR Fund (XLY). Notably, XLY has 4.8% of its portfolio in McDonald’s (MCD), 3.8% in Starbucks (SBUX), and 1.4% in YUM! Brands (YUM).
Continue to the next part for a closer look at BWLD’s cost drivers.