Farmer Bros. CEO Deverl Maserang terminated without cause, effective Sep 30, 2023

FARMER BROTHERS CO

President and CEO Deverl Maserang's employment terminated without cause, effective Sep 30, 2023.
Maserang will also resign from the Board of Directors on Sep 30, 2023.
Departure not due to any disagreement with the Company on operations, policies, or practices.
Maserang will receive previously negotiated severance per his Employment Agreement dated Sep 6, 2019.
No permanent successor has been announced; Board search expected.

item 5.02

Executive movements

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Departed

Deverl Maserang

member of the Board of Directors

FARM · FARMER BROTHERS CO

Effective: 2023-09-30
Filed: September 12, 2023, 7:59 PM ET

Mr. Maserang informed the Board of his intention to resign as a member of the Board on September 30, 2023.

Departed

Deverl Maserang

President and Chief Executive Officer

FARM · FARMER BROTHERS CO

Effective: 2023-09-30
Filed: September 12, 2023, 7:59 PM ET

the Company and Deverl Maserang, the Company’s President and Chief Executive Officer, had agreed that Mr. Maserang’s employment with the Company would be terminated, without cause, effective September 30, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Deverl Maserang resigned as member of the Board of Directors at FARMER BROTHERS CO.

Action: resigned
Role: member of the Board of Directors

Exact text from the filing

Mr. Maserang informed the Board of his intention to resign as a member of the Board on September 30, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Deverl Maserang was terminated as President and Chief Executive Officer at FARMER BROTHERS CO.

Action: terminated
Role: President and Chief Executive Officer

Exact text from the filing

the Company and Deverl Maserang, the Company’s President and Chief Executive Officer, had agreed that Mr. Maserang’s employment with the Company would be terminated, without cause, effective September 30, 2023.

View on SEC.gov

FARMER BROTHERS CO filing history →

Source: SEC EDGAR

accession 0001104659-23-099809

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