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Jennifer Grafton Joins Farmland Partners Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Farmland Partners Inc. (NYSE: FPI) announced the appointment of Jennifer Grafton to its Board of Directors, effective March 16, 2023. Grafton brings extensive legal expertise and executive leadership experience, currently serving as Executive Vice President and General Counsel at E2open Parent Holdings, Inc. She has a strong background in corporate governance, ESG, and risk management. Grafton expressed enthusiasm for contributing to the Company’s continued success following a strong performance in 2022. Farmland Partners manages approximately 196,100 acres across 19 states and is positioned as a significant player in the North American farmland sector.
Positive
Addition of Jennifer Grafton to the Board enhances legal and governance expertise.
Strengthened leadership with experience in corporate governance and ESG matters.
Company had one of its strongest years in 2022, indicating positive momentum.
Negative
Potential for continuity issues as new members join the Board.
DENVER--(BUSINESS WIRE)--
Farmland Partners Inc. (NYSE: FPI) (the “Company” or “FPI”) today announced the addition of Jennifer Grafton, a business executive with public company Board and executive leadership experience, to its Board of Directors, effective March 16, 2023.
Ms. Grafton currently serves as the Executive Vice President, General Counsel, and Secretary of E2open Parent Holdings, Inc., a publicly traded provider of supply chain management software. She is also an Independent Director for Dakota Gold Corp., an NYSE-listed gold mining company.
From 2008 to 2019, Ms. Grafton was with Colorado-based energy company Westmoreland Coal Company and its various subsidiaries, where she served as a Board Director, Chief Legal Officer, Chief Administrative Officer, Corporate Secretary, General Counsel, and Associate General Counsel. Prior, she was a corporate securities attorney for a law firm in Denver.
“Jennifer brings a wealth of legal knowledge and executive leadership to our Board,” said Paul Pittman, FPI’s Executive Chairman. “She is a proven expert in executive compensation and corporate governance and has deep understanding in ESG, risk management, and regulatory matters. We’re thrilled that she is joining us.”
“This is an exciting time to be part of the Farmland Partners team. The Company had one of its strongest years ever in 2022 and is putting the right pieces into place for continued success,” Grafton said. “I take my role seriously, and I’m looking forward to working alongside the rest of the Board to tackle tough issues and chart a course for the future.”
Ms. Grafton holds an undergraduate degree from the University of Puget Sound, a J.D. from the University of Denver, and an M.B.A. from the University of Michigan.
About Farmland Partners Inc.
Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of December 31, 2022, the Company owns and/or manages approximately 196,100 acres in 19 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, South Carolina, Texas, and Virginia. In addition, we own land and buildings for four agriculture equipment dealerships in Ohio leased to Ag Pro under the John Deere brand. We have approximately 26 crop types and over 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014. Additional information: www.farmlandpartners.com or (720) 452-3100.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the federal securities laws, including, without limitation, statements with respect to our outlook and the outlook for the farm economy generally, proposed and pending acquisitions and dispositions, financing activities, crop yields and prices and anticipated rental rates. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” or similar expressions or their negatives, as well as statements in future tense. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, beliefs and expectations, such forward-looking statements are not predictions of future events or guarantees of future performance and our actual results could differ materially from those set forth in the forward-looking statements. Some factors that might cause such a difference include the following: the on-going war in Ukraine and its impact on the world agriculture market, world food supply, the farm economy, and our tenants’ businesses; general volatility of the capital markets and the market price of the Company’s common stock; changes in the Company’s business strategy, availability, terms and deployment of capital; the Company’s ability to refinance existing indebtedness at or prior to maturity on favorable terms, or at all; availability of qualified personnel; changes in the Company’s industry, interest rates or the general economy; adverse developments related to crop yields or crop prices; the degree and nature of the Company’s competition; the timing, price or amount of repurchases, if any, under the Company's share repurchase program; the ability to consummate acquisitions or dispositions under contract; and the other factors described in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and the Company’s other filings with the Securities and Exchange Commission. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
Who is Jennifer Grafton, and what is her role in Farmland Partners Inc. (FPI)?
Jennifer Grafton has been appointed to the Board of Directors of Farmland Partners Inc. (FPI) effective March 16, 2023. She is an experienced executive with a background in legal affairs and corporate governance.
What experience does Jennifer Grafton bring to Farmland Partners (FPI)?
Jennifer Grafton brings extensive experience in legal and executive roles, including her position as Executive Vice President at E2open Parent Holdings and a previous tenure at Westmoreland Coal Company.
Why is the appointment of Jennifer Grafton significant for FPI?
Her appointment is significant due to her expertise in executive compensation, corporate governance, and risk management, which can strengthen the Board's oversight capabilities.
What does the addition of Grafton to the Board mean for the future of Farmland Partners (FPI)?
The addition of Grafton is expected to bring fresh perspectives to the Board, contributing to the Company's strategic direction and governance.
When did Jennifer Grafton join the Board of Directors of Farmland Partners (FPI)?
Jennifer Grafton joined the Board of Directors of Farmland Partners Inc. (FPI) on March 16, 2023.
