Karen Seaberg Elected to Chair MGP's Board of Directors
ATCHISON, Kan., Dec. 22, 2014 (GLOBE NEWSWIRE) -- The Board of Directors of MGP Ingredients, Inc. (Nasdaq:MGPI) has announced the election of Karen Seaberg as board chairperson effective immediately. Her election continues a long family legacy at the company, a leading supplier of premium distilled spirits and specialty wheat proteins and starches.
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In chairing the board, Mrs. Seaberg succeeds her father, Cloud L. "Bud" Cray, who served as chairman during this past year, as well as from 1980 to 2005. He retains a position on the board as chairman emeritus. Her husband, Ladd Seaberg, was chairman from 2005 until his retirement in 2009 and also served a combined total of 28 years as president and CEO. The role of chairman was originally held by Mrs. Seaberg's late grandfather, Cloud L. Cray, Sr., who founded the company in 1941.
"While remaining an active member of the board, I have decided to step down as chair as we prepare for the start of a new year," Bud Cray said. "MGP has made significant progress during this past year thanks to the hard work of our talented management team and employees, along with the high caliber Board that we have in place."
Cray continued, "We are very excited for Karen, whose outstanding record of accomplishments now includes being the first female to serve as board chair at MGP. She possesses a solid understanding of MGP's business, and has repeatedly demonstrated her remarkable leadership skills on many fronts. The entire board shares my confidence in her abilities to provide valuable guidance and insight pertinent to decisions that are in the best interest of our shareholders, customers and employees, as well as the communities of which we are a part. Her optimistic attitude, perseverance and integrity are additional qualities that will serve all stakeholders well as she fulfills the responsibilities of her new position on the board."
Mrs. Seaberg became a director of MGP in 2009, filling a vacancy that resulted from her husband's retirement from the board. Her professional background includes over 20 years as an executive travel agent in association with the Travel Center of Atchison. Along with her husband, she is co-owner of a local Long John Silver's franchise. She also served for five years on the managing executive committee of the former RiverHouse Restaurant in Atchison.
"I am deeply grateful for the faith my fellow directors have in my capabilities to serve as chairperson of MGP's board," Mrs. Seaberg said. "As one might imagine, I have had a strong attachment to the company since my earliest days. This connection has only become more solid through the years, increasing my desire and determination to do what is right and best for all who have an interest in MGP's success."
ADD 1–Karen Seaberg Elected
Widely recognized for her involvement in civic activities, Mrs. Seaberg performed a key role at the local, state and national levels in the development of the 2004 Lewis & Clark Bicentennial commemoration, including serving on the executive committee for "A Journey Fourth," one of 15 Lewis & Clark Bicentennial Signature events held nationally in 2004. In addition to other positions she held in relation to bicentennial activities, she was a member of the National Lewis & Clark Trail Heritage Foundation Board from 2003 to 2007 and served as its president from 2007 to 2008.
Mrs. Seaberg was very active in Atchison's award-winning Riverfront/Downtown Development project, serving on the Design Committee from 1997 to 2000 and the Development Committee from 2000 to 2004. She is a charter member of the Riverfront Development Foundation, which was organized in 2005.
Mrs. Seaberg also continues to perform a lead role in Atchison's nationally-acclaimed Amelia Earhart Festival, which attracts an estimated 50,000 guests to the local community each year. She served as a member of the Governor's Committee for the Amelia Earhart Birthday Centennial in 1997. She additionally was a principal organizer and events coordinator for the centennial festival in Atchison in 1997 and has served as festival chair since then.
Her community involvement over the years spans many other entities and programs, including the Atchison Area Chamber of Commerce Board of Directors and Tourism Council, Atchison Family YMCA Capital Campaign Cabinet, Atchison Hospital Board of Directors, Riverbend Regional Healthcare Board, and the Board of the Cray Medical Research Organization at the University of Kansas Medical Center, Kansas City, Kan.
About MGP Ingredients, Inc.
MGP is a leading independent supplier of premium spirits, offering flavor innovations and custom distillery blends to the beverage alcohol industry. The company also produces high quality food grade industrial alcohol and formulates grain-based starches and proteins into nutritional and highly functional ingredients for the branded consumer packaged goods industry. The company is headquartered in Atchison, Kansas, where a variety of distilled alcohol products and food ingredients are manufactured. Distilled spirits are also produced at company facilities in Lawrenceburg, Indiana. For more information, visit mgpingredients.com.
A photo accompanying the release is available at https://www.globenewswire.com/newsroom/prs/?pkgid=29756
The photo is also available via AP PhotoExpress.
CONTACT: Shanae Randolph, 913.367.1480
shanae.randolph@mgpingredients.com
or
Steve Pickman, 913.367.1480
steve.pickman@mgpingredients.com
Released December 22, 2014