Libby Hill Seafood Restaurants is spinning off its seafood import and distribution arm, Bay Hill Seafood Sales, with the business to be purchased and run by Justin Conrad, the third-generation head of the Greensboro-based seafood restaurant company.
Conrad, currently president and CEO of the company his grandfather started in 1953, will resign his position leading Libby Hill once the split is complete, likely by the end of November.
Terms of the deal were not disclosed.
Ken Conrad, Justin's father, will continue as chairman of Libby Hill, and it's not been determined who will be the company's next president and CEO or when the position will be filled, Justin Conrad said Wednesday.
"This has been a long time coming," Justin Conrad said. "We really see it as a win-win. In order for Libby Hill to really flourish, it needs some attention, too."
Click here to read the full story from Triad Business Journal >
