Farmer Bros. Co.
Board Names Interim CEO after Roy E. Farmer Unexpectedly Passes Away
Sunday January 9, 11:57 pm
TORRANCE, Calif.--(BUSINESS WIRE)--Jan. 9, 2005--Farmer
Bros. Co. (Nasdaq:FARM) said its Board of Directors elected Guenter W.
Berger, the Company's Vice President of Production, as Interim Chief
Executive Officer. The Board acted Sunday during a special meeting after
Chairman, CEO and President Roy E. Farmer, 52, died unexpectedly on
Mr. Berger, 67, a 44-year veteran of Farmer
Bros., joined the Company soon after he emigrated from Germany. He has held
his current title since 1980 and his responsibilities include the Torrance
inventory, production, coffee roasting and distribution operations.
Roy E. Farmer in June became the Company's
third Board Chairman in 93 years, succeeding his father, Roy F. Farmer, who
passed away March 16, 2004. He had been employed by Farmer Bros. Co. for his
entire adult life.
"Guenter knows every aspect of our
operations better than anyone, has earned loyalty and support from employees
and suppliers alike, and has shown himself to be a capable and effective
leader during his 24 years as our head of production," said John Merrell,
who is among the Board's majority of independent Directors. "We are
confident Guenter will maintain our focus on creating shareholder value as
well as a stable workplace for the long term."
The Company said it would release
additional information as it becomes available.
Farmer Bros. Co. is an institutional coffee roaster
that sells a variety of coffee and allied products to the food service
industry. The Company's signature trucks and vans bearing the
"Consistently Good" logo are seen throughout Farmer Brothers' 28-state
service area. Farmer Brothers has paid a dividend for 51 consecutive
years, increased the dividend in each of the last seven consecutive years,
and its stock price has grown on a split-adjusted basis from $1.80 a share
Abernathy MacGregor Group
Jim Lucas / Whitney Hays,