MGP Ingredients names CFO Brandon Gall interim CEO; Donn Lux becomes chairman

MGP INGREDIENTS INC

David Bratcher steps down as CEO and resigns from board effective Dec 31, 2024; gets transition and severance benefits.
CFO Brandon Gall appointed Interim President and CEO effective Jan 1, 2025; base salary raised to $525,000.
Donn Lux succeeds Karen Seaberg as Chairman of the Board; Ms. Seaberg remains a director.
Company reaffirms 2024 sales and adjusted earnings guidance; lowers capex to ~$72M from $78M.
Brown goods environment commentary consistent with Q3 2024 call; expects Q4/full-year results in late Feb 2025.

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