AB Value-Radoff Group Modifies Slate at Rocky Mountain Chocolate Factory
2022年7月21日 - 3:00AM
ビジネスワイヤ(英語)
Seeks to Elect Proven Corporate Leader Mary
Bradley, Who Possesses Highly Additive Experience in Consumer
Brands, Chocolate and Franchising
Urges Stockholders to Vote on BLUE Proxy Card to Elect Ms. Bradley to the Board
at the 2022 Annual Meeting – Only Latest-Dated Vote Counts
AB Value Management LLC and Bradley L. Radoff (together with
their affiliates, the "AB Value-Radoff Group" or "we"), who own
approximately 17.6% of the outstanding shares of Rocky Mountain
Chocolate Factory, Inc. (NASDAQ: RMCF) ("Rocky Mountain" or the
"Company"), today announced that it has modified its slate and is
now seeking to elect just one highly qualified and independent
candidate – Mary Bradley – to the Company’s Board of Directors (the
“Board”) at the 2022 Annual Meeting of Stockholders (the "Annual
Meeting") scheduled for August 18, 2022. In connection with this
decision, the AB Value-Radoff Group issued the following
statement:
“After engaging with our fellow stockholders and taking into
account Rocky Mountain’s most pressing needs, we have decided to
seek the election of only Mary Bradley at the upcoming
Annual Meeting. Ms. Bradley would bring exceptional experience in
the consumer, chocolate and franchising sectors, expertise that is
currently lacking in the boardroom. Her background at companies
such as Godiva and Starbucks will enable her to bring operational
and strategic planning best practices to a company that has been
mired in dysfunction for far too long. The addition of one new
independent director to the Board is also consistent with the
latest settlement offer we communicated to the Company. We strongly
believe that Ms. Bradley is the right director at the right time as
Rocky Mountain embarks on a turnaround.
Further, we firmly believe Ms. Bradley is ideally suited to
replace Brett Seabert, who is a conflicted and problematic
director. The Company’s recent communications have done nothing to
address our suspicion that Mr. Seabert is only on the Board because
the Company’s prior Chief Executive Officer was his long-time
friend and best man. Likewise, the Company does not seem to be able
to defend his lack of discernible experience in corporate
governance, consumer brands or franchising. The reality is Mr.
Seabert is an underqualified director with meager stockholdings and
a five-year record of presiding over sizable value destruction at
Rocky Mountain. Given Chair Jeffrey Geygan’s well-documented public
biographies that emphasize his expertise in a variety of financial
areas, we assume he can fill Mr. Seabert’s role as a financial
expert and Chair of the Audit Committee.
By focusing our efforts on electing Ms. Bradley, who is an
objectively stellar nominee, we are aiming to provide stockholders
with a simple choice: add a gender diverse director with fresh
perspectives and ideal experience, while removing an incumbent
director who lacks relevant experience and has overseen tremendous
value destruction.”
VOTE THE BLUE
PROXY CARD TODAY!
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220720005853/en/
Saratoga Proxy Consulting John Ferguson / Joe Mills,
212-257-1311 info@saratogaproxy.com
Longacre Square Partners Greg Marose / Bela Kirpalani,
646-386-0091 gmarose@longacresquare.com /
bkirpalani@longacresquare.com
Rocky Mountain Chocolate... (NASDAQ:RMCF)
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Rocky Mountain Chocolate... (NASDAQ:RMCF)
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