MGP Ingredients Taps Finance Chief Gall as Interim CEO

Dow Jones2024-12-20

By Denny Jacob

MGP Ingredients added interim chief executive officer to Brandon Gall's list of roles within the company.

The company, which manufactures and trades food, beverage, specialty wheat protein, and starch food ingredients, said the change will take effect on Jan. 1, according to a securities filing. Gall already serves as vice president of finance, chief financial officer and treasurer.

Gall succeeds David Bratcher, whose tenure as president and CEO, as well as member of the board, will conclude at the end of the month. Bratcher agreed to provide certain transition services, and after that, plans to retire.

MGP also disclosed that board member Donn Lux will succeed Karen Seaberg as chairman of the board, effective Jan. 1. Seaberg will remain a director.

Gall has served as CFO and vice president of finance since April 2019 and treasurer since May 2023. His base salary will increase to $525,000, and he will also be entitled to other forms of compensation including a one-time $100,000 supplement cash incentive payout in connection with the transition.

The company also backed its sales and adjusted earnings guidance for the year. It now expects capital expenditures of about $72 million this year, down from $78 million, due to unexpected delays in the construction of a mini-fuel plant for its ingredient solutions segment.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

December 20, 2024 08:31 ET (13:31 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2492443728?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-20 21:31","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2492443728","market":"us","top_or_hot":-1,"title":"MGP Ingredients Taps Finance Chief Gall as Interim CEO","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Denny Jacob \n</p>\n<p>\n  <a href=\"https://laohu8.com/S/MGPI\">MGP Ingredients</a> added interim chief executive officer to Brandon Gall's list of roles within the company. \n</p>\n<p>\n  The company, which manufactures and trades food, beverage, specialty wheat protein, and starch food ingredients, said the change will take effect on Jan. 1, according to a securities filing. Gall already serves as vice president of finance, chief financial officer and treasurer. \n</p>\n<p>\n  Gall succeeds David Bratcher, whose tenure as president and CEO, as well as member of the board, will conclude at the end of the month. Bratcher agreed to provide certain transition services, and after that, plans to retire. \n</p>\n<p>\n  MGP also disclosed that board member Donn Lux will succeed Karen Seaberg as chairman of the board, effective Jan. 1. Seaberg will remain a director. \n</p>\n<p>\n  Gall has served as CFO and vice president of finance since April 2019 and treasurer since May 2023. His base salary will increase to $525,000, and he will also be entitled to other forms of compensation including a one-time $100,000 supplement cash incentive payout in connection with the transition. \n</p>\n<p>\n  The company also backed its sales and adjusted earnings guidance for the year. It now expects capital expenditures of about $72 million this year, down from $78 million, due to unexpected delays in the construction of a mini-fuel plant for its ingredient solutions segment. \n</p>\n<p>\n  Write to Denny Jacob at denny.jacob@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 20, 2024 08:31 ET (13:31 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>MGP Ingredients Taps Finance Chief Gall as Interim CEO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMGP Ingredients Taps Finance Chief Gall as Interim CEO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-20 21:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Denny Jacob \n\n\nMGP Ingredients added interim chief executive officer to Brandon Gall's list of roles within the company. \n\n\n  The company, which manufactures and trades food, beverage, specialty ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MGP","symbol_name":"MGM Growth Properties LLC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2492443728","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492443728","pubTimestamp":1734701460,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"MGP Ingredients added interim chief executive officer to Brandon Gall's list of roles within the company.The company, which manufactures and trades food, beverage, specialty wheat protein, and starch food ingredients, said the change will take effect on Jan. 1, according to a securities filing. Gall already serves as vice president of finance, chief financial officer and treasurer.Gall succeeds David Bratcher, whose tenure as president and CEO, as well as member of the board, will conclude at the end of the month. Bratcher agreed to provide certain transition services, and after that, plans to retire.MGP also disclosed that board member Donn Lux will succeed Karen Seaberg as chairman of the board, effective Jan. 1. Seaberg will remain a director.Gall has served as CFO and vice president of finance since April 2019 and treasurer since May 2023. His base salary will increase to $525,000, and he will also be entitled to other forms of compensation including a one-time $100,000 supplement ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MGP":"MGM Growth Properties LLC","LU2065731478.USD":"ALLSPRING (LUX) WORLDWIDE FUND - SMALL CAP INNOVA \"I\" (USD) ACC","BK4169":"酿酒商与葡萄酒商","LU0029874061.USD":"TEMPLETON GLOBAL SMALLER COMPANIES \"A\" YDIS INC","MGPI":"MGP Ingredients","LU0128526141.USD":"TEMPLETON GLOBAL SMALLER COMPANIES \"A\" ACC","BK4084":"特种房地产投资信托"},"translate_title":"MGP Ingredients任命财务主管Gall为临时首席执行官","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MGP":1,"MGPI":1},"content_text":"By Denny Jacob \n\n\nMGP Ingredients added interim chief executive officer to Brandon Gall's list of roles within the company. \n\n\n  The company, which manufactures and trades food, beverage, specialty wheat protein, and starch food ingredients, said the change will take effect on Jan. 1, according to a securities filing. Gall already serves as vice president of finance, chief financial officer and treasurer. \n\n\n  Gall succeeds David Bratcher, whose tenure as president and CEO, as well as member of the board, will conclude at the end of the month. Bratcher agreed to provide certain transition services, and after that, plans to retire. \n\n\n  MGP also disclosed that board member Donn Lux will succeed Karen Seaberg as chairman of the board, effective Jan. 1. Seaberg will remain a director. \n\n\n  Gall has served as CFO and vice president of finance since April 2019 and treasurer since May 2023. His base salary will increase to $525,000, and he will also be entitled to other forms of compensation including a one-time $100,000 supplement cash incentive payout in connection with the transition. \n\n\n  The company also backed its sales and adjusted earnings guidance for the year. It now expects capital expenditures of about $72 million this year, down from $78 million, due to unexpected delays in the construction of a mini-fuel plant for its ingredient solutions segment. \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 20, 2024 08:31 ET (13:31 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492443728"}