Business
Rocky Mountain Chocolate Factory Advances Plan to Bring on World-Class Strategic and Operational Expertise to its Board of Directors
Company Retains Leading Global Search Firm to Identify Exemplary Independent Board Candidates and Strengthen RMCF's Ability to Drive Growth, Accelerate
About this update from Rocky Mountain Chocolate Factory, Inc.
[{"type":"text","content":"Company Retains Leading Global Search Firm to Identify Exemplary Independent Board Candidates and Strengthen RMCF's Ability to Drive Growth, Accelerate Innovation and Deliver Superior Customer ExperiencesDURANGO, CO / ACCESSWIRE / August 10, 2021 / Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) (the \"Company\"), a global confectionary manufacturer, international franchisor and retail operator delighting consumers through a premium offering of gourmet chocolate, confection and self-serve frozen yogurt, today announced key initiatives to bring on world-class strategic and operational expertise to its Board of Directors, and support the Company's growth strategy, accelerate innovation and deliver superior customer experiences.Following the Company's election of Rahul Mewawalla as independent Chairperson of the RMCF Board effective July 30, 2021, the Company today announced the formation of a Special Committee of the Board of Directors (\"Special Committee\") to oversee the process of identifying new qualified, independent directors for the company's next chapter of growth, innovation and transformation. The establishment of this Special Committee represents the next step in the Company's stated commitment to refresh RMCF's Board with a view towards the future and further enhancing corporate governance structures and practices at the Company. The Special Committee is comprised of Rahul Mewawalla, Chairperson of the Board and two other independent directors. In connection with this process, RMCF has retained leading global search firm Russell Reynolds Associates to identify world-class candidates for the Board's consideration.\"We are committed to ensuring the RMCF Board has the right experience, expertise and perspectives to maximize shareholder value and build upon the Company's incredible 40-year legacy,\" said Mr. Mewawalla. \"We are conducting a rigorous and thoughtful nationwide evaluation to identify several world-class, independent directors that will join RMCF's Board. In collaboration with an independent search firm, we intend to add valuable perspective to the Board and propel the Company to greater success for our shareholders, our employees, our franchisees and stores, and our customers all across the country and the world.\"The RMCF Board is committed to ensuring that it is composed of directors with the right sk...