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Diamond Foods Announces Results Of Annual Meeting

SAN FRANCISCO, Jan. 14, 2013 (GLOBE NEWSWIRE) -- Diamond Foods, Inc. (Nasdaq:DMND) today announced the results of voting at its annual meeting of stockholders, which was held today. At the meeting, stockholders approved all the proposals recommended by the Company's Board of Directors in its proxy statement dated December 10, 2012, including:

  • The election of Alison Davis, Brian J. Driscoll and Nigel A. Rees as Class I directors to serve on the Company's Board of Directors until the 2015 annual meeting, and Robert M. Lea, Matthew C. Wilson and William L. Tos, Jr. to serve as Class II directors until the 2016 annual meeting;  
  • The ratification of the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ended July 31, 2012;  
  • Approving, on an advisory basis, the compensation paid to Company-named executive officers, known as the "Say-on-Pay" vote; and  
  • Selecting, on an advisory basis, annual frequency for future Say-on-Pay votes.

Diamond also confirmed that with the expiration of the terms of Directors Laurence M. Baer and Glen C. Warren, Jr., the size of its Board has now been reduced to nine members. Robert Zollars continues to serve as Diamond's Chairman of the Board, and, beginning today, the membership of the committees of the Board of Directors will be as follows:

  • Audit Committee - Nigel Rees (Chair), Alison Davis and Dean Hollis  
  • Compensation Committee - Alison Davis (Chair), Ed Blechschmidt and Robert Zollars  
  • Nominating and Governance Committee - Ed Blechschmidt (Chair), Robert Zollars and Dean Hollis

"I would like to thank Larry Baer and Glen Warren for their service to the Company as long-time Directors on our Board and express our appreciation for their leadership and expertise during their years of service," said Robert J. Zollars, Diamond's Chairman of the Board.

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