Company Website:
http://freshdelmonte.com
CORAL GABLES, Fla. -- (Business Wire)
The board of directors of Fresh Del Monte Produce Inc. (NYSE: FDP)
announced today that Robert S. Bucklin has been nominated as a candidate
for election to the board of directors, at the Company’s upcoming annual
meeting of shareholders scheduled for April 30, 2014. If elected, Mr.
Bucklin will replace Dr. Elias K. Hebeka, who will retire from the
Company’s board of directors at the end of his current term as director
which expires on April 30, 2014. Dr. Hebeka assumed his responsibilities
on Fresh Del Montes’ board in November 2007 and has served on the Audit
and Governance Committees.
Mr. Bucklin brings over 35 years of extensive experience within the
investment banking services industry to Fresh Del Monte. Mr. Bucklin
most recently served as Vice Chairman of Rabobank International’s North
America Wholesale banking, where he was primarily responsible for U.S.
and Canadian Wholesale Clients, Corporate Banking, Mergers and
Acquisitions, and Food & Agribusiness Research and Advisory. Prior to
being named Vice Chairman, he served as Chief Corporate Banking Officer
of Rabobank International, where he led the significant growth of
Rabobank’s regional business and client relationships, and helped
establish Rabobank as the premier Food & Beverage bank in North America.
Before joining Rabobank International, Mr. Bucklin served as President
and Chief Operating Officer of First City-Dallas bank. He currently
serves on the boards of directors of the OSI Group, LLC, Agrivida, Inc.
and Bay State Milling Company. Mr. Bucklin is also a member of the
Advisory Board for Jacob Stern & Sons, as well as serves as Chairman of
Global Green USA, a non-profit organization. Mr. Bucklin holds a
Bachelors degree in Finance from the University of Illinois and an MBA
from the Harvard Business School.
“Mr. Bucklin’s years of executive banking leadership with Rabobank and
industry knowledge enable him to provide valuable insight to our Company
and we look forward to welcoming him to our board of directors," said
Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer. “On behalf
of the board of directors, I want to thank Dr. Hebeka for his exemplary
service to the organization. The Company and our shareholders have
benefited greatly from his valuable insight and dedication," Mr.
Abu-Ghazaleh added.
About Fresh Del Monte Produce Inc.
Fresh Del Monte Produce Inc. is one of the world’s leading vertically
integrated producers, marketers and distributors of high-quality fresh
and fresh-cut fruit and vegetables, as well as a leading producer and
distributor of prepared food in Europe, Africa, the Middle East and the
countries formerly part of the Soviet Union. Fresh Del Monte markets its
products worldwide under the Del Monte® brand, a symbol of product
innovation, quality, freshness and reliability for more than 100 years.
Forward-looking Information
This press release contains certain forward-looking statements
regarding the intent, beliefs or current expectations of the Company or
its officers with respect to the Company’s plans and future performance.These forward-looking statements are based on information currently
available to the Company and the Company assumes no obligation to update
these statements. It is important to note that these forward-looking
statements are not guarantees of future performance and involve risks
and uncertainties. In this press release, these statements appear in a
number of places and include statements regarding the intent, belief or
current expectations of the Company or its officers (including
statements preceded by, followed by or that include the words
“believes,” “expects,” “anticipates” or similar expressions).The
Company’s plans and performance may differ materially from those in the
forward-looking statements as a result of various factors, including (i)
the uncertain global economic environment and the timing and strength of
a recovery in the markets the Company serves, and the extent to which
adverse economic conditions continue to affect its sales volume and
results, including the Company’s ability to command premium prices for
certain of its principal products, or increase competitive pressures
within the industry, (ii) the impact of governmental initiatives in the
United States and abroad to spur economic activity, including the
effects of significant government monetary or other market interventions
on inflation, price controls and foreign exchange rates, (iii) the
impact of governmental trade restrictions, including adverse
governmental regulation that may impact the Company’s ability to access
certain markets, (iv) the Company’s anticipated cash needs in light
of its liquidity, (v) the continued ability of the Company’s
distributors and suppliers to have access to sufficient liquidity to
fund their operations, (vi) trends and other factors affecting the
Company’s financial condition or results of operations from period to
period, including changes in product mix or consumer demand for branded
products such as its, particularly as consumers remain price-conscious
in the current economic environment; anticipated price and expense
levels; the impact of crop disease, severe weather conditions, such as
flooding, or natural disasters, such as earthquakes, on crop quality and
yields and on its ability to grow, procure or export its products; the
impact of prices for petroleum-based products and packaging materials;
and the availability of sufficient labor during peak growing and
harvesting seasons, (vii) the impact of pricing and other actions by the
Company’s competitors, particularly during periods of low consumer
confidence and spending levels, (viii) the impact of foreign currency
fluctuations, (ix) the Company’s plans for expansion of its business
(including through acquisitions) and cost savings, (x) the Company’s
ability to successfully integrate acquisitions into its operations, (xi)
the impact of impairment or other charges associated with exit
activities, crop or facility damage or otherwise, (xii) the timing and
cost of resolution of pending and future legal and environmental
proceedings or investigations, (xiii) the impact of changes in tax
accounting or tax laws (or interpretations thereof), and the impact of
settlements of adjustments proposed by the Internal Revenue Service or
other taxing authorities in connection with the Company’s tax audits,
and (xiv) the cost and other implications of changes in regulations
applicable to its business, including potential legislative or
regulatory initiatives in the United States or elsewhere directed at
mitigating the effects of climate change.All forward-looking
statements in this report are based on information available to the
Company on the date hereof, and the Company assumes no obligation to
update any such forward-looking statements.The Company’s plans
and performance may also be affected by the factors described in Item
1A. - “Risk Factors” in Fresh Del Monte Produce Inc.’s Annual Report on
Form 10-K for the year ended December 28, 2012 along with other reports
that the Company has on file with the Securities and Exchange Commission.
Note to the Editor: This release and other press releases are available
on the Company's web site, www.freshdelmonte.com.
Contacts:
Fresh Del Monte Produce Inc.
Christine Cannella, 305-520-8433
Assistant
Vice President, Investor Relations
Source: Fresh Del Monte Produce Inc.
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