Key Independent Director Resigns from Flowers Foods Board
FLO is trading near its 52-week low of $6.8 (11% above the low).
Summary
Thomas C. Chubb, III, an independent presiding director and chair of the Nominating/Corporate Governance Committee, has resigned from Flowers Foods' board after six years of service. The company stated the resignation is effective immediately due to competing professional demands and not due to any dispute. This follows a period of significant changes for the company, including a Chief Growth Officer departure and a nearly 50% dividend cut announced in May.
At the time of this announcement, FLO was trading at $7.53 on NYSE in the Trade & Services sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $6.80 to $16.96. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.