BALTIMORE, March 24 /PRNewswire-FirstCall/ -- Douglas Ober, Chairman and Chief Executive Officer of The Adams Express Company (NYSE: ADX), announced that, on March 23, 2010, the Board of Directors of the Company elected the following executives to new positions. Mr. David D. Weaver was elected President, Ms. Nancy J. F. Prue was elected Executive Vice President, and Mr. Richard A. Church was elected Vice President-Research.
Weaver Elected President
Mr. Weaver has been Executive Vice President of Adams Express since March 31, 2008. In that capacity and as President, he serves as a member of the portfolio management team that is headed by Mr. Ober. Mr. Ober took on the additional position of President of the Company following the retirement of former President Joseph Truta last year, and Mr. Weaver's promotion continues the Company's long-standing tradition of having a separate President and CEO for the Fund.
Mr. Weaver joined Adams Express in May 2004 as a research analyst covering the industrials and consumer-discretionary sectors of the Fund. In January 2007, he was promoted to Vice President-Research. Prior to joining the Company, he was an analyst with Legg Mason Wood Walker, Inc. in Baltimore.Mr. Weaver received his undergraduate degree from Western Maryland College (now McDaniel College) and a M.S. degree in Business/Finance from The Johns Hopkins University. He is a Chartered Financial Analyst and a member of the Baltimore Security Analysts Society. Prue Elected Executive Vice President In her new position as Executive Vice President of Adams Express, Ms. Prue joins the portfolio management team with Mr. Ober and Mr. Weaver. Ms. Prue is also Executive Vice President of Adams Express's non-controlled affiliate, Petroleum & Resources Corporation, and has served in that capacity since 2009. Prior thereto, she was Vice President of Petroleum & Resources from 2005 to 2009, and Vice President-Research from 1986 to 2005.