David Kanen, 54, was appointed to our Board of Directors on July 26, 2019. Mr. Kanen is the President and Portfolio Manager of Kanen Wealth Management, LLC (“KWM”), a registered investment adviser that he founded in 2016. He served as Senior Vice President Investments of Aegis Capital from 2012 to 2016. From 1988 to 2012, Mr. Kanen worked for several brokerage firms as an institutional securities broker, including A.G. Edwards & Sons, Inc. from 1992 to 2004, where he worked as a wealth manager/broker and managed several retail and institutional accounts, including hedge funds that focused on value investing. Mr. Kanen serves as the non-executive Chairman of the Board of Directors of BBQ Holdings, Inc., a publicly traded chain of barbecue restaurants that include Famous Dave’s of America, Inc. and Granite City Food and Brewery, and as a member of the Board of Directors of U.S. Auto Parts Network, Inc., a publicly traded online provider of automotive aftermarket parts and repair information.
As an institutional securities broker and later as the managing member of a registered investment advisor, Mr. Kanen obtained extensive expertise in financial analysis and investments. He brings to the Build-A-Bear Workshop Board of Directors insights on financing issues and capital allocation. As a representative of the Company’s largest stockholder, he also provides insights from an institutional shareholder perspective.
KWM is the general partner of The Philotimo Fund, LP (“Philotimo”) and is currently the Company’s largest stockholder. Collectively, Mr. Kanen, KWM and Philotimo own nearly 10% of the Company’s outstanding shares. Mr. Kanen was appointed to the Board in connection with entry into the Cooperation Agreement between the Company, Mr. Kanen, KWM and Philotimo. See “Related Party Transactions” for additional information.