- Farmer Brothers Company (NASDAQ:FARM) sends a letter to shareholders ahead of the company's annual meeting scheduled for December 8.
- The letter includes a defense of why its board nominees are better options than the slate being put up Waite Group. A few key points on Farmer Brothers' board performance and plans are posted below.
- "Delivering superior value for all stockholders through a successful turnaround that has driven an increase in the Company's stock price of over 225%.
- "Executing a thoroughly planned corporate relocation that is expected to rationalize and simplify the Company's supply chain and produce annualized cost savings of approximately $18 million to $20 million."
- "Enhancing governance and bringing fresh perspectives to the Board under a new independent Chairman appointed in 2015, with five new directors who were added in the past five years."
- Source: Press Release