Business
Farmer Brothers Board of Directors Appoints New Chairman
NORTHLAKE, Texas, Jan. 23, 2020 (GLOBE NEWSWIRE) -- Farmer Bros. Co. (NASDAQ:FARM) (the “Company” or “Farmer Brothers”) today announced that its Board of
About this update from Farmer Brothers Company
[{"type":"text","content":"NORTHLAKE, Texas, Jan. 23, 2020 (GLOBE NEWSWIRE) -- Farmer Bros. Co. (NASDAQ:FARM) (the “Company” or “Farmer Brothers”) today announced that its Board of Directors has named Christopher Mottern as Board Chairman, effective January 22, 2020. Mr. Mottern, who has served as a director on the Farmer Brothers Board since 2013, succeeds Randy Clark, who will continue to serve as a director of the Company.\n Mr. Mottern was appointed to Farmer Brothers’ Board in 2013 and recently served as Interim Chief Executive Officer of Farmer Brothers from May 7, 2019 until October 31, 2019. Mr. Mottern said, “I am honored to be appointed by my fellow directors to the role of Chairman of the Board, as we continue to execute on our turnaround strategy to position the Company for the long term. I want to thank Randy for his tremendous leadership and contributions to the Company during a period of significant transformation for Farmer Brothers. We are fortunate to have Randy remain on the Board, which will continue to benefit from his skills and experience.” Mr. Clark said, “It has been a privilege to serve as the Company’s Chairman for the last four years. I look forward to continuing to work closely with Chris, along with the rest of the Board and management team to enhance Farmer Brothers’ operational and financial performance.” In addition, Hamideh Assadi has resigned from the Board for personal reasons, effective immediately. Mr. Mottern added, “On behalf of the Board and management team, I want to express our appreciation for Hami’s many contributions to the Company and years of distinguished service. We wish her the best in the future.” Following these changes, the Board comprises seven people, six of whom are independent. The Board committee chairs are as follows: Allison Boersma, Chair of the Audit Committee; David Ritterbush, Chair of the Nominating & Governance Committee; Chuck Marcy, Chair of the Compensation Committee. About Farmer Bros. Co.Founded in 1912, Farmer Bros. Co. is a national coffee roaster, wholesaler, and distributor of coffee, tea, and culinary products. The Company's product lines include organic, Direct Trade and sustainably-produced coffee. With a robust line of coffee, hot and iced teas, cappuccino mixes, spices, and baking/biscuit mixes, the Company delivers extensive beverage planning services and culinary products t...