MGPI elects new board
May 23, 2014
by Eric Schroeder
ATCHISON, KAS. — The board of directors of MGP Ingredients, Inc. has elected eight directors to serve one-year terms until the annual meeting of stockholders to be held in 2015. 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 under way. “MGP is pleased to welcome these three new board members,” Mr. Cray, chairman of the board, 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 c.e.o. We hope to conclude our review of candidates by the end of the summer.”
MGP Ingredients has been without a permanent c.e.o. since letting Tim Newkirk go last December.