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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.”