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American Vanguard Announces Changes in Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
American Vanguard Corporation (NYSE: AVD) announced the resignation of Lawrence S. Clark from its board of directors after 15 years, effective December 9, 2021. Marisol Angelini has been appointed to fill the vacancy, bringing over 22 years of experience from The Coca-Cola Company in various leadership roles, including VP Marketing in Brazil and Chief Marketing Officer in Mexico. Angelini's expertise is expected to enhance American Vanguard’s marketing and global commercialization strategies.
Positive
Appointment of Marisol Angelini expected to enhance marketing and brand strategies.
Angelini's international experience aligns with the company's global commercialization goals.
Negative
Resignation of Lawrence S. Clark may lead to concerns about continuity in leadership.
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--
American Vanguard Corporation (NYSE: AVD) today announced that, after 15 years of service on its board of directors, Lawrence S. Clark has submitted his resignation effective on the close of business on Thursday, December 9, 2021. He will continue to serve on the board and committees through the next regular meeting of the board.
To fill the vacancy that will be created by Mr. Clark’s departure, the Company’s board of directors has appointed Marisol Angelini to serve on the board effective after the close of business on Thursday, December 9, 2021. Ms. Angelini served through 2018 in positions of increasing responsibility over 22 years at The Coca-Cola Company, including in the capacity of VP Marketing in Brazil, GM and VP of Global Tea/Water Business and Chief Marketing Officer (of Mexico City and later of Central and Eastern Europe). Prior to that service, she was Brand Manager for Proctor & Gamble in Venezuela. Ms. Angelini currently sits on the board of Bush Brothers & Company (a privately-held food company) where she serves on the Nominating and Corporate Governance Committee. She is also a member of the board of NACD (National Association of Corporate Directors), which is dedicated toward director education and best practices for public company boards.
Eric Wintemute, Chairman and CEO of American Vanguard, stated, “We thank Larry for his 15 years of service with American Vanguard. His background in banking and M&A work has been extremely helpful to us in carrying out our strategy of growth through acquisition. He has also provided unfailing leadership in his role as chair of the Compensation Committee. We will miss him greatly.” Mr. Wintemute continued, “We are very excited to welcome Marisol Angelini to our board. She is an accomplished business leader in the food and beverage industry with particular expertise in launching new brands. In addition, her linguistic fluency (English, Spanish and Portuguese) and international experience, especially in LATAM and Brazil, fit perfectly with our footprint. With this background, Marisol will be an invaluable resource for us in our global commercialization of precision application technology (such as SIMPAS), our carbon credit solutions (led by Ultimus) and our Green Solutions portfolio. We are also thankful to the Latino Corporate Directors Association, through whom we recruited Marisol, and add that her appointment is further demonstration of our commitment to diversity and inclusion on our board of directors.”
About American Vanguard
American Vanguard Corporation is a diversified specialty and agricultural products company that develops and markets products for crop protection and management, turf and ornamentals management and public and animal health. American Vanguard is included on the Russell 2000® and Russell 3000® Indexes and the Standard & Poor’s Small Cap 600 Index. To learn more about American Vanguard, please reference the Company’s web site at www.american-vanguard.com.
The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this release, all forward-looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that may cause results to differ from management’s current expectations. Such factors include weather conditions, changes in regulatory policy, the coronavirus pandemic, and other risks as detailed from time-to-time in the Company’s SEC reports and filings. All forward-looking statements, if any, in this release represent the Company’s judgment as of the date of this release.
