In other news, the company plans to change its corporate name from the Steak n Shake Company to Biglari Holdings Inc. This adjustment is to delineate more clearly the parent company's new direction as a diversified holding company as well as to eliminate confusion among the activities of the holding company and those of its wholly-owned subsidiary, Steak n Shake Operations Inc., the company explained.
Because a change of the corporate name requires an amendment to the articles of incorporation, the company will include a proposal in its proxy statement provided to shareholders in connection with the annual meeting, to be held on April 8 at the St. Regis Hotel in New York City. The company has also reserved the trading symbol BH with the New York Stock Exchange. The company's stock will begin trading a day after a majority of shareholders approve the name change.
All investment and other capital allocation decisions are made for the company by Sardar Biglari, chairman and chief executive officer.
The Steak n Shake Company is a diversified holding company. Its most significant operating subsidiary is Steak n Shake Operations Inc. The chain of now 485 restaurants serves premium burgers and milkshakes.