This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Fred Adams, Jr. Named Chairman Emeritus Of Cal-Maine Foods, Inc.

Cal-Maine Foods, Inc. (NASDAQ: CALM) today announced that Fred Adams, Jr., founder and chairman of the board, has made the decision to tender his resignation as an officer and director of the Company, due to health issues.

In recognition of his long service and role as founder of the Company, the board of directors has designated him chairman emeritus at a regular board meeting held today in Jackson. In this advisory position, Adams will continue to participate in board meetings and provide consultation as requested by the board. He will remain an active employee of Cal-Maine Foods.

Dolph Baker, president and chief executive officer of Cal-Maine Foods, will succeed Adams as chairman, effective July 27, 2012. Sherman Miller, chief operating officer of Cal-Maine Foods, has been elected to the vacant seat on the board and will fill Adams’ unexpired term.

Commenting on the announcement, Adams said, “I believe it is the right time for me to take this step and assume a different role with the Company. It has been extremely rewarding for me to see the tremendous growth of Cal-Maine Foods since our humble beginnings as Adams Egg Company in 1957. After 55 years in the egg business, I remain enthusiastic about the Company’s growth prospects and look forward to advising and working with our leadership team as we execute our strategy. As these important transitions take place at Cal-Maine Foods, I am highly confident that Dolph has the experience and ability to lead the Company forward with continued success.”

Baker said, “Since our founding, Fred Adams has played a vital role in the growth and success of Cal-Maine Foods and his vision and leadership have inspired everyone associated with the Company. It has been a privilege for all of us to learn from him and work with such a well-respected leader in the egg industry. We will continue to benefit from his experience, valuable customer and industry relationships, and commitment to our strategic objectives. I look forward to maintaining my strong working relationship with Fred as we move into our new roles with Cal-Maine Foods.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs