Rocky Mountain Chocolate Factory Announces Board Changes
Rocky Mountain Chocolate Factory (NASDAQ: RMCF) announced two new appointments to its Board of Directors. Melvin Keating and Al Harper have joined the board, replacing Starlette B. Johnson and Charlson Arnold, effective November 26, 2024. Keating brings extensive corporate leadership experience, having served on nearly 20 public company boards. Harper, a seasoned entrepreneur and owner of American Heritage Railways, is one of RMCF's largest shareholders, owning approximately 1 million shares (13% of common shares outstanding).
Rocky Mountain Chocolate Factory (NASDAQ: RMCF) ha annunciato due nuove nomine nel suo Consiglio di Amministrazione. Melvin Keating e Al Harper si sono uniti al consiglio, sostituendo Starlette B. Johnson e Charlson Arnold, a partire dal 26 novembre 2024. Keating porta una vasta esperienza nella leadership aziendale, avendo servito in quasi 20 consigli di aziende quotate. Harper, un imprenditore esperto e proprietario di American Heritage Railways, è uno dei maggiori azionisti di RMCF, possedendo circa 1 milione di azioni (13% delle azioni ordinarie in circolazione).
Rocky Mountain Chocolate Factory (NASDAQ: RMCF) anunció dos nuevos nombramientos en su Junta Directiva. Melvin Keating y Al Harper se han unido a la junta, reemplazando a Starlette B. Johnson y Charlson Arnold, a partir del 26 de noviembre de 2024. Keating aporta una amplia experiencia en liderazgo corporativo, habiendo servido en casi 20 juntas de compañías públicas. Harper, un emprendedor experimentado y propietario de American Heritage Railways, es uno de los principales accionistas de RMCF, poseyendo aproximadamente 1 millón de acciones (13% de las acciones ordinarias en circulación).
록키 마운틴 초콜릿 팩토리 (NASDAQ: RMCF)는 이사회에 두 명의 새로운 임원을 임명했다고 발표했습니다. 멜빈 키팅과 알 하퍼가 이사회에 합류하여 스타렛 B. 존슨과 찰슨 아널드를 대체하며, 이는 2024년 11월 26일부터 시행됩니다. 키팅은 거의 20개의 공개회사 이사회에서 근무한 광범위한 기업 리더십 경험을 제공합니다. 하퍼는 경험이 풍부한 기업가이자 아메리칸 헤리티지 레일웨이즈의 소유주로, RMCF의 가장 큰 주주 중 한 명으로 약 100만 주(보통주 전체의 13%)를 보유하고 있습니다.
Rocky Mountain Chocolate Factory (NASDAQ: RMCF) a annoncé deux nouveaux membres au sein de son conseil d'administration. Melvin Keating et Al Harper ont rejoint le conseil, remplaçant Starlette B. Johnson et Charlson Arnold, à compter du 26 novembre 2024. Keating apporte une vaste expérience en leadership d'entreprise, ayant servi dans près de 20 conseils d'administration de sociétés cotées. Harper, entrepreneur chevronné et propriétaire d'American Heritage Railways, est l'un des plus grands actionnaires de RMCF, possédant environ 1 million d'actions (13 % des actions ordinaires en circulation).
Rocky Mountain Chocolate Factory (NASDAQ: RMCF) hat zwei neue Mitglieder in seinen Vorstand berufen. Melvin Keating und Al Harper sind dem Vorstand beigetreten, um Starlette B. Johnson und Charlson Arnold zu ersetzen, mit Wirkung zum 26. November 2024. Keating bringt umfangreiche Erfahrung in der Unternehmensführung mit und hat in nahezu 20 Vorstandsgremien öffentlicher Unternehmen gedient. Harper, ein erfahrener Unternehmer und Eigentümer von American Heritage Railways, ist einer der größten Aktionäre von RMCF und besitzt etwa 1 Million Aktien (13% der ausstehenden Stammaktien).
- Major shareholder Al Harper (13% ownership) joins the board, potentially aligning management with shareholder interests
- New board member Melvin Keating brings extensive public company experience, including corporate restructuring expertise
- None.
Insights
The board changes at Rocky Mountain Chocolate Factory signal a significant strategic shift, particularly with the addition of Mel Keating, who brings valuable restructuring and turnaround expertise from his Alliance Semiconductor experience. The appointment of Al Harper is especially noteworthy, as his
Keating's extensive board experience across retail and consumer sectors (Vitamin Shoppe, Crown Crafts) suggests a focus on operational optimization and strategic repositioning. Harper's local business acumen in Durango and significant skin in the game through his recent share purchase demonstrates a vested interest in the company's success. These appointments reflect a deliberate move to strengthen oversight and execution capabilities as the company aims to address profitability challenges.
DURANGO, Colo., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Rocky Mountain Chocolate Factory Inc. (Nasdaq: RMCF) (the “Company”, “we”, or “RMCF”), an international franchisor and producer of premium chocolates and other confectionery products, including gourmet caramel apples, is pleased to announce the appointments of Melvin Keating and Al Harper to the Company’s Board of Directors, replacing Starlette B. Johnson and Charlson Arnold, effective November 26, 2024.
“We’d like to thank both Starlette and Charles for serving on the Board,” stated Jeff Geygan, Interim CEO of RMCF. “At the same time, we are delighted to welcome Mel and Al as the newest members of our Board. Their knowledge and experience will bring great value as we look to return Rocky Mountain Chocolate Factory to sustained growth and profitability.”
Mr. Keating brings extensive experience in corporate leadership, investment advisory, and board service, having served on nearly 20 public company boards throughout his career including directorship for SPS Commerce, Vitamin Shoppe, Tower Jazz Semiconductor, and Crown Crafts, among others. He has held various leadership positions including President and CEO of Alliance Semiconductor Corp., where he successfully executed a complex corporate restructuring, and also served as a Strategy Consultant for Warburg Pincus Equity Partners. He currently serves as a director of Agilysys, Inc.
Mr. Harper is a seasoned entrepreneur and leader with expertise spanning industries such as transportation, real estate, and entertainment. As the Owner and President of American Heritage Railways, Inc., he oversees operations for its subsidiaries including the Durango & Silverton Narrow Gauge Railroad and the Great Smoky Mountains Railroad. Mr. Harper is also one of the largest shareholders of RMCF, having recently purchased approximately one million shares of the Company (
About Rocky Mountain Chocolate Factory, Inc.
Rocky Mountain Chocolate Factory, Inc. is an international franchiser of premium chocolate and confection stores, and a producer of an extensive line of premium chocolates and other confectionery products, including gourmet caramel apples. Headquartered in Durango, Colorado, Rocky Mountain Chocolate Factory is ranked among Entrepreneur’s Franchise 500® and Franchise Times’ Franchise 400® for 2024. The Company and its franchisees and licensees operate nearly 260 Rocky Mountain Chocolate stores across the United States, with several international locations. The Company's common stock is listed on the Nasdaq Global Market under the symbol "RMCF."
Investor Contact
Sean Mansouri, CFA
Elevate IR
720-330-2829
RMCF@elevate-ir.com
FAQ
Who are the new board members appointed to Rocky Mountain Chocolate Factory (RMCF) in November 2024?
How many shares of RMCF does new board member Al Harper own?
What is Melvin Keating's background and experience before joining RMCF's board?
