Farmer Bros. Announces Preliminary Results of Annual Meeting of Stockholders
Results Indicate Stockholders Support the Election of All Three of Farmer Brothers’ Highly-Qualified Director Nominees
Results Indicate Stockholders Approved Proposal to Declassify the Board
NORTHLAKE, Texas, Dec. 10, 2019 (GLOBE NEWSWIRE) -- Farmer Bros. Co. (NASDAQ:FARM) (the “Company” or “Farmer Brothers”) today announced that, based on a preliminary vote count provided by its proxy solicitor following the Company’s 2019 Annual Meeting of Stockholders held today, stockholders have overwhelmingly voted to elect all three of Farmer Brothers’ highly-qualified director nominees – Charles Marcy, Deverl Maserang and Christopher Mottern – to the Company’s Board of Directors.
Commenting on the preliminary results of the Annual Meeting of Stockholders, Farmer Bros. issued the following statement:
We are pleased with the outcome of today’s vote, which reaffirms that we have the right team and the right plan in place to return Farmer Brothers to consistent growth and profitability. The
Farmer Brothers Board and management team have taken decisive action to put new leadership in place and laid the foundation for the Company’s turnaround. Our Board remains committed to driving
the business forward, delivering sustainable long-term growth and value creation for stockholders.
We would like to thank our stockholders for their consideration and support throughout this process. We look forward to continued engagement with our stockholders in order to advance our shared goal of creating value.
The preliminary results indicate that stockholders have also approved the declassification of the Board as well as all other proposals considered.
The Company will file preliminary voting results with the Securities and Exchange Commission on a Form 8-K within four days of the Annual Meeting and will file final voting results on a Form 8-K/A once they are certified by the independent inspector of elections.
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 to its U.S. based customers. The Company serves a wide variety of customers, from small independent restaurants and foodservice operators to large institutional buyers like restaurant and convenience store chains, hotels, casinos, healthcare facilities, and gourmet coffee houses, as well as grocery chains with private brand coffee and consumer-facing branded coffee and tea products, and foodservice distributors.