O’Charley’s averts shareholder challenge by granting board seats

NASHVILLE Tenn. O’Charley’s Inc. has averted a proxy battle with 12-percent stakeholder Crescendo Partners by putting former Arby’s chief Douglas Benham and two others on its board of directors.

Under the agreement disclosed Thursday, O’Charley’s, the operator or franchisor of 364 casual-dining restaurants, has expanded its board to 11 seats, from nine. In addition to Benham, the one-time president and chief executive of Arby’s Restaurant Group, the new direct

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