MGP Ingredients, Inc. Stockholders Elect New Board of Directors
MGP Ingredients, Inc. shareholders today elected all eight individuals nominated by the Board of Dir…MGP Ingredients, Inc. shareholders today elected all eight individuals nominated by the Board of Directors. They will hold office for a one-year term until the annual meeting of stockholders to be held in 2015.
Following today’s vote, the Company’s Articles of Incorporation have been amended to provide for the annual election of all directors.
Newly elected directors Terrence Dunn and Anthony Foglio join current directors Daryl Schaller and John Bridendall as Group A directors. Newly elected director George “Skip” Page, Jr. joins current directors Cloud L. “Bud” Cray, Jr., Karen Seaberg, and Jeannine Strandjord as Group B directors elected by holders of the Company’s preferred stock. One Group B position to be elected by the holders of the Company’s Preferred Stock is expected to be filled by the Company’s new chief executive officer upon completion of the search currently underway.
"MGP is pleased to welcome these three new board members," Board Chairman Cray told stockholders at the annual meeting. “We appreciate the support of our shareholders, especially during the challenges we faced in 2013. Our new board has the right experience to help us chart a successful future. Among the board’s top priorities is the hiring of a new CEO. We hope to conclude our review of candidates by the end of the summer.”