Burger King Holdings is the parent company of Burger King, also known as Burger King Corporation and abbreviated BKC, and is a Delaware corporation formed on 23 July 2002. A public company, it derives its income from several sources, including property rental and sales through company owned restaurants; however a substantial portion of its revenue is dependent on franchise fees. During the transitional period after the acquisition of the company by 3G Capital, Burger King's board of directors was co-chaired by John W. Chidsey, formerly CEO and chairman of the company, and Alex Behring, managing partner of 3G Capital. By April 2011 the new ownership completed the restructuring of Burger King's corporate management and Chidsey tendered his resignation, leaving Behring as CEO and chair.