Cal-Maine Foods, Inc. Announces Retirement of Michael Castleberry and Promotions of Finance Team

Rhea-AI Summary

Cal-Maine Foods (NASDAQ: CALM) announces leadership changes as Mike Castleberry retires from his role as Vice President and Controller effective January 2022. Matt Glover will take over the role, transitioning from Director of Financial Reporting, effective November 29, 2021. Additionally, Jia Scott has been appointed Vice President - Treasury, while Rhonda Whiteman becomes Vice President - Operational Accounting. These changes aim to strengthen the company’s financial management as it continues its growth strategy.

Positive

• Matt Glover's promotion continues strong management continuity after his tenure in financial reporting.
• Jia Scott's extensive experience in taxation and treasury enhances the company's financial strategy.
• Rhonda Whiteman's familiarity with company operations and processes supports ongoing operational improvements.

Negative

• None.

RIDGELAND, Miss.--(BUSINESS WIRE)-- Cal-Maine Foods, Inc. (NASDAQ: CALM) today announced that Michael D. (Mike) Castleberry, Vice President and Controller and the Company’s principal accounting officer, will retire from Cal-Maine Foods effective early January 2022. Castleberry has held this position since 2014 after serving as Director of Accounting since 2013.

Matt Glover has been named Vice President – Accounting and will transition to the role of principal accounting officer effective November 29, 2021. Glover has served as Director of Financial Reporting for Cal-Maine Foods since 2019. He previously was a Senior Audit Manager at BKD, LLP, for ten years where he worked with audit clients in a variety of industries. Glover holds a Bachelor of Accountancy degree and a Master of Accountancy degree from the University of Mississippi. He is a Certified Public Accountant.

Jia Scott has been named Vice President – Treasury. Scott has served as Director of Taxation for Cal-Maine Foods since November 2013. Prior to this position, she was Vice President of Taxation of Parkway Properties Inc. and held other senior financial positions at various publicly traded companies where she played a leading role in accounting, debt management and treasury services. In addition to her tax and treasury work at Cal-Maine Foods, she also helps oversee the Company’s philanthropic efforts and sustainability initiatives. Scott holds a Bachelor of Accountancy degree from Jackson State University, a Master of Accountancy degree from Millsaps College and is a Certified Public Accountant.

Rhonda Whiteman has been promoted to Vice President - Operational Accounting. Whiteman joined Cal-Maine Foods in 2012 and has held numerous financial positions in areas including accounts payable, purchasing, analytics and accounting management across the Company. She most recently served as Director of Operations Accounting, where she has utilized a strong working knowledge of the Company’s enterprise-wide procedures and field operations to support continuous improvement initiatives. Whiteman holds a Bachelor of Business Administration degree from Mississippi State University.

The new appointments for Glover, Scott and Whiteman are effective November 29, 2021, and they will each report directly to Max Bowman, Vice President and Chief Financial Officer.

Commenting on the announcements, Dolph Baker, chairman and chief executive officer of Cal-Maine Foods, Inc., stated, “Mike Castleberry has served as a valued accounting and financial advisor, and we are very grateful for his leadership and dedicated service to the Company. He has played an integral role on our management team through a period of tremendous growth for Cal-Maine Foods. We will certainly miss his considerable insight and wisdom, and we wish him all the best in his retirement.

“Matt Glover is well qualified to assume this important new role, having managed all our financial reporting and SEC filings while utilizing his technology experience to enhance our reporting processes and procedures. Since joining Cal-Maine Foods, he has worked closely with Mike Castleberry and will continue to benefit from his expertise to ensure a smooth transition. Jia Scott has extensive experience in taxation and treasury, both at Cal-Maine Foods and with other companies and industries. Rhonda Whiteman is very familiar with our systems and processes across the Company and understands the financial management and needs of our operating facilities. We are confident in each of these managers’ capabilities and commitment as they take on these new leadership roles for Cal-Maine Foods. We are fortunate to have a strong finance and accounting team, and we look forward to working together as we continue to execute our growth strategy.”

Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing, marketing and sale of fresh shell eggs, including conventional, cage-free, organic pasture-raised, free-range and nutritionally enhanced eggs. The Company, which is headquartered in Ridgeland, Mississippi, is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211118006302/en/

Dolph Baker, Chairman and CEO

Max P. Bowman, Vice President and CFO

(601) 948-6813

Source: Cal-Maine Foods, Inc.

FAQ

What leadership changes has Cal-Maine Foods announced?

Cal-Maine Foods announced that Mike Castleberry will retire as Vice President and Controller in January 2022, with Matt Glover succeeding him effective November 29, 2021.

Who will take over as principal accounting officer at Cal-Maine Foods?

Matt Glover has been named the new principal accounting officer, effective November 29, 2021.

What roles have Jia Scott and Rhonda Whiteman been promoted to at Cal-Maine Foods?

Jia Scott has been named Vice President - Treasury, and Rhonda Whiteman has been promoted to Vice President - Operational Accounting.

When is Mike Castleberry's retirement effective?

Mike Castleberry's retirement from Cal-Maine Foods is effective early January 2022.