NEW ALBANY, Ohio
April 28, 2014
/PRNewswire/ -- Bob Evans Farms, Inc. (NASDAQ: BOBE) today announced that, as part of its Board succession process first publicly announced in January,
Kevin M. Sheehan
, President and Chief Executive Officer of Norwegian Cruise Line,
Kathy S. Lane
, former Chief Information Officer of TJX Companies, Inc., and
Larry S. McWilliams
, Co-Chief Executive Officer of Compass Marketing, have been appointed to its Board of Directors on
The Company also said that
E. Gordon Gee
, 70, is stepping down from the Board effective immediately, following his acceptance in March of the permanent position of President of the
West Virginia University
. It further said that
Larry C. Corbin
, 72, and
G. Robert Lucas
, 70, will be retiring from the Board at the end of their terms in connection with the 2014 Annual Meeting and will not be standing for reelection.
"Today's announcements are part of the Board's ongoing efforts to ensure continued exceptional leadership and the highest standards of governance at Bob Evans," said
Michael J. Gasser
, the Company's Lead Independent Director. "As part of the Board's evaluation and succession planning process, the Nominating and Corporate Governance Committee has worked with an executive search firm for over a year to identify independent, exceptional candidates with the appropriate skill sets. We believe that
will bring new perspectives and special expertise in their respective fields to the Board's deliberations, as we continue to fulfill our fundamental commitment to serve the best interests of and maximize value for Bob Evans shareholders," Mr. Gasser added.
With the changes announced today, the Board will consist of 12 directors, 11 of whom are independent, and 7 of whom have joined the Board since 2007, including 4 within the past 2 years. Following the retirement of Messrs. Corbin and Lucas immediately prior to the 2014 Annual Meeting, the Company expects that the size of the Board will revert to ten directors. Messrs. Sheehan and McWilliams will join the Board's Audit Committee and Nominating and Corporate Governance Committee. Ms. Lane will serve on the Board's Finance Committee and Nominating and Corporate Governance Committee.