Business
Jack in the Box Inc. Reiterates Confidence in David Goebel-Led Board of Directors in Overseeing Successful Execution of “JACK on Track” Plan
Highlights Biglari’s Self-Interested Campaign and Contradictory and Volatile Behavior that Hindered the Board’s Attempts at Constructive Engagement Urges
About this update from Jack In The Box Inc.
[{"type":"text","content":"\nHighlights Biglari’s Self-Interested Campaign and Contradictory and Volatile Behavior that Hindered the Board’s Attempts at Constructive Engagement\n\n\nUrges Shareholders to Vote “FOR” all 10 of Jack in the Box’s Director Nominees, including David Goebel, Independent Chair of the Jack in the Box Board, on the WHITE Proxy Card\n\n\nVisit www.KeepJackonTrack.com for More Information\n\n\n SAN DIEGO--(BUSINESS WIRE)--\nJack in the Box Inc. (“Jack in the Box” or the “Company”) (NASDAQ: JACK), today mailed a letter to shareholders in connection with its upcoming Annual Meeting of Shareholders scheduled to be held on February 27, 2026 (the “Annual Meeting”). Shareholders of record as of January 2, 2026, will be entitled to vote at the Annual Meeting.\n\n\nIn the letter, the Company highlights Jack in the Box Independent Board Chair David Goebel’s leadership as the Board has overseen strategic actions to put the Company back on track as well as Mr. Goebel’s breadth of recent experience and the important role he plays as a mentor and thought leader not only for the Company’s Board and management team, but across relevant industries. The letter reminds shareholders that Mr. Goebel brings critical expertise to Jack in the Box as one of the most qualified franchise executives in the quick-service restaurant and casual dining sector and that his removal from the Board would jeopardize the continued successful execution of “JACK on Track” as well as the value of shareholders’ investments in Jack in the Box.\n\n\nIn addition, the letter highlights the Board’s conviction that the “vote no” campaign run by Biglari Capital Corp. (collectively with the participants in its solicitation, including Sardar Biglari, the ”Biglari Group”), is not driven out of genuine desire to create shareholder value, but rather by Mr. Biglari’s self-interest and anger at the Board’s unanimous decision that he was not well suited to join the Board. The letter outlines Mr. Biglari’s mischaracterizations and pattern of contradictory and volatile behavior that repeatedly hindered constructive dialogue despite the Board’s extensive engagement during which it considered Mr. Biglari’s views and worked towards a mutually agreeable outcome.\n\n\nThe full text of the letter follows:\n\n\nDear Fellow Shareholders,\n\n\nThe 2026 Annual Meeting of Shareholders (the “Annual Mee...