Farmer Bros. Co. Announces Leadership Transition
Christopher P. Mottern Appointed Interim Chief Executive Officer
Michael Keown Steps Down as President and Chief Executive Officer
NORTHLAKE,
The Board has commenced a comprehensive search process, with the assistance of a leading executive search firm, to identify and evaluate candidates to serve as permanent CEO.
“As we position Farmer Brothers for its next phase of growth and development, we have determined that now is the right time for a leadership transition,” said
Mr. Clark continued, “On behalf of the Board and everyone at Farmer Brothers, I want to thank Mike for his commitment and significant contributions to our company since 2012. Under his leadership, Farmer Brothers has grown through multiple acquisitions, made critical investments into its roasting facilities, successfully relocated its headquarters and rebuilt its workforce in Northlake, and achieved ambitious sustainability goals. We appreciate Mike’s dedication to the Company’s mission, and we wish him all the best in the future.”
“It has been a privilege to lead Farmer Brothers and work alongside its talented team of employees over the past seven years, and I am proud of all that we have accomplished together,” said Mr. Keown. “With the Company’s state-of-the art coffee processing facility, leadership position in sustainable coffee practices, and having brought the Boyd’s coffee volume into the Company’s operations, I am confident Farmer Brothers has a strong foundation for the future and look forward to watching its continued growth and success.”
Mr. Mottern said, “I am honored to assume the Interim CEO role and intend to work closely with the Board, our senior leadership team, and our dedicated employees as we execute our strategy. We continue to believe there are exciting opportunities ahead for Farmer Brothers and I am committed to driving the business forward, while also ensuring a smooth leadership transition.”
Third Quarter 2019 Financial Results
In a separate release, the Company disclosed its financial results for its third fiscal quarter ended
About
About
Founded in 1912,
Headquartered in Northlake,
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements.” When used in this press release, the words “will,” “expects,” “anticipates,” “estimates,” “believes,” and similar expressions, and statements which are made in the future tense or refer to future events or developments are intended to identify such forward-looking statements. These statements are based on management’s current expectations, assumptions, estimates and observations of future events and include any statements that do not directly relate to any historical or current fact. Actual results may differ materially due in part to the risk factors set forth in the Company’s most recent annual, periodic and current reports filed with the
Contact:
212-355-4449
Source: Farmer Bros. Co.