US: Brown-Forman announces board changes

By just-drinks.com editorial team | 23 May 2008

Brown-Forman has announced several upcoming changes to its board of directors as part of its long-term succession plan.

Owsley Brown, former chairman and CEO, will retire from the board when his term expires at the company's annual meeting in July, ending a 37-year stint on the board.

Donald Calder, chairman of the audit committee, will extend his board service until next year's annual shareholders' meeting, ending a 13-year history with the company.

"We look forward to continuing the growth of the company from the strong foundation built by Owsley and many others," said chairman and CEO Paul Varga. "We also thank Don Calder for agreeing to extend his board service. They exemplify the service and shareholder-orientation that have long been hallmarks of our board. "

Brown's retirement from the Brown-Forman board will reduce the number of directors to 13 from 14.

Sectors: Spirits, Wine

Companies: Brown-Forman