Market Overview

Farmer Bros Names Wahba to Board as Director; Will Not Pay Q2 Dividend

Farmer Bros. Co. (Nasdaq: FARM) announced today that Jeffrey A. Wahba, Interim Co-Chief Executive Officer, Treasurer and Chief Financial Officer has been appointed as Class I director on the Company's Board of Directors to fill the vacancy left by the Company's former director, President and Chief Executive Officer, Mr. Roger M. Laverty, III, who stepped down on June 30, 2011.

Mr. Wahba will serve as a Class I director through the remainder of Mr. Laverty's term; provided if the Board appoints someone other than Mr. Wahba to the position of permanent sole Chief Executive Officer or Mr. Wahba ceases to serve as Co-Chief Executive Officer, Mr. Wahba has agreed to step down as a director at that time.

Posted-In: News Dividends Small Cap Analysis Management

 

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