Farmer Brothers names vice president, head of coffee and reports inducement grants under Nasdaq Listing Rule 5635(c)(4)
NORTHLAKE, Texas, July 05, 2023 (GLOBE NEWSWIRE) -- Farmer Brothers Company (NASDAQ: FARM) today announced John Moore has been appointed as the company’s new vice president and head of coffee. Mr. Moore will lead the company’s green coffee procurement, sustainability, coffee research and development, blend development, coffee excellence, manufacturing and food safety and quality assurance efforts.
“John’s more than two decades of experience in all aspects of the coffee value chain, on both the national and international fronts, will help us realize additional efficiencies and process enhancements,” said Farmer Brothers President and Chief Executive Officer Deverl Maserang. “His leadership will also ensure we continue to provide the wide variety of high-quality, full-flavored coffee products our customers rely on and which have made us an industry leader for more than 110 years.”
Before joining Farmer Brothers, Mr. Moore served as the chief executive officer for Vassilaros Coffee. Prior to Vassilaros, he was the New York senior trader and general manager at Volcafe Specialty Coffee, the chief executive officer and managing partner of FAL Coffee Inc. and the vice president of sales and marketing at Octavio Inc., dba Dallis Coffee. Mr. Moore has founded and led several businesses, including Jolly Roger Imports, ELIXIR Cocktail & Espresso Bar and the German expansion of New York Gourmet GmbH & Co.
Mr. Moore is also a Certified Q grader and Cup of Excellence Head Judge. He received a Bachelor of Science degree from Earlham College.
“I am extremely excited to be joining Farmer Brothers – a family business, which has grown to become one of the most significant coffee companies in North America. This will be my third “100-year start up” and I cannot wait to learn more about the rich history of Farmer Brothers and its truly exceptional offerings,” said Mr. Moore.
In conjunction with this appointment, the company also announced the issuance of 24,916 restricted stock units under the company’s 2020 Inducement Incentive Plan, which were issued to Mr. Moore on July 3, 2023. This award will ratably vest over a three-year period on each anniversary of the award date, subject to Mr. Moore’s continued employment with the company.
The inducement plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Farmer Brothers, as an inducement material to such individuals entering into employment with the company, pursuant to Rule 5635(c)(4) of the Nasdaq listing rules.
About Farmer Brothers
Founded in 1912, Farmer Brothers is a national coffee roaster, wholesaler, equipment servicer and distributor of coffee, tea and culinary products. The company’s product lines, include organic, Direct Trade and sustainably produced coffee. With a robust line of coffee, hot and iced teas, cappuccino mixes, spices and baking/biscuit mixes, Farmer Brothers delivers extensive beverage planning services and culinary products to its U.S.-based customers. It serves a wide variety of customers, from small independent restaurants and foodservice operators to large institutional buyers, such as restaurant, department and convenience store chains, hotels, casinos, healthcare facilities and gourmet coffee houses, as well as grocery chains with private brand coffee and consumer branded coffee and tea products, and foodservice distributors.
Headquartered in Northlake, Texas, Farmer Brothers generated net sales of $469.2 million in fiscal 2022. The company’s primary brands include Farmer Brothers, Artisan Collection by Farmer Brother, Superior, Metropolitan, China Mist and Boyd’s.
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