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Bob Evans Farms Details Strong Qualifications Of Its Director Nominees In Letter To Stockholders

Stocks in this article: BOBE

NEW ALBANY, Ohio, July 23, 2014 (GLOBE NEWSWIRE) -- Bob Evans Farms, Inc., (Nasdaq:BOBE) today sent to its stockholders a letter from Lead Independent Director Michael Gasser and Chairman and Chief Executive Officer Steve Davis outlining the strong qualifications of the Board's dynamic and open-minded nominees to the Board of Directors at the Company's 2014 Annual Meeting.

The letter noted that, under the Board's proposal for the 2014 Annual Meeting: eleven directors would be fully independent, in addition to the CEO; a majority of those independent directors would have been added within just the last two years; at least six would be current or former CEOs; and at least eight would bring other public company Board experience.

The letter stated that the Board's "nominees are committed to 1) executing a growth strategy built on a recently completed two-year transformational investment program, 2) building on the Company's track record of returning capital to stockholders and 3) considering other strategic opportunities to benefit stockholders." The letter urged stockholders to vote the WHITE proxy card to support all the Board's nominees.

Complete text of letter follows:

Bob Evans Farms

July 23, 2014

DEAR FELLOW STOCKHOLDER,

We are writing to you today to inform you further about your Board's nominees to the Bob Evans Farms Board of Directors – a group that is highly qualified, independent, and open minded – and to urge you to elect these candidates at the 2014 Annual Meeting. These nominees are committed to 1) executing a growth strategy built on a recently completed two-year transformational investment program, 2) building on the Company's track record of returning capital to stockholders and 3) considering other strategic opportunities to benefit stockholders.

In keeping with its commitment to rigorous independent oversight and dynamic open-minded leadership, the Board has added four new independent directors over the last two years following comprehensive search processes with the assistance of search firms, the most recent of which commenced in February 2013. The Board composition we are proposing to stockholders would include 11 fully independent directors, in addition to the CEO. A majority of those independent directors would have been added within just the last two years, and 5 of 11 independent directors would have been added just this year.

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