BRIDGFORD FOODS CORPORATION (NASDAQ:BRID) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangement of Certain Officers.
On March 1, 2017, Keith A. Ross notified the board of directors
(the Board) of Bridgford Foods Corporation (the Company) of his
intent to resign from the Board, effective immediately. Mr. Rosss
resignation was not the result of any disagreement with the
Company or management regarding operations, policies or
practices.
On March 2, 2017, the Board reelected Paul R. Zippwald as a
director of the Company to fill the vacancy created by the
resignation of Mr. Ross. Mr. Zippwald will serve on the Boards
Audit Committee and Compensation Committee. Mr. Zippwald
previously served on the Companys Board, including the Audit
Committee and Compensation Committee, prior to his resignation on
March 9, 2016.
There are no arrangements or understandings between Mr. Zippwald
and any other persons to which Mr. Zippwald was appointed a
director of the Company.
Mr. Zippwald was Regional Vice President and Head of Commercial
Banking for Bank of America NTSA, North Orange County,
California, for more than five years prior to his retirement in
July 1992. Mr. Zippwald is currently retired. He is a graduate of
the Graduate School of Credit and Financial Management at the
Amos Tuck School of Business Administration of Dartmouth College
and also holds a graduate degree from the American Institute of
Banking.
Mr. Zippwald brings to the Board a background and expertise in
banking and investment advisory services. He has provided many
years of service to the Company as a prior member of the Board.
The Board believes that Mr. Zippwald is qualified to serve as a
director of the Company due to his business expertise and
executive managerial experience
A press release announcing Mr. Rosss resignation and Mr.
Zippwalds appointment to the Board is attached hereto as Exhibit
99.1 and is incorporated herein by reference.
On March 7, 2017, the Company received a letter from The Nasdaq
Stock Market LLC confirming that following the appointment of Mr.
Zippwald to the Board and the Audit Committee, the Company
regained compliance with Nasdaq Listing Rule 5605.
Item 9.01 – Financial Statements and Exhibits
(c) Exhibits.
| Exhibit Number | Description | |
| 99.1 | Press Release dated March 3, 2017. |
About BRIDGFORD FOODS CORPORATION (NASDAQ:BRID)
Bridgford Foods Corporation is engaged in the manufacturing, marketing and distribution of a range of frozen and snack food products throughout the United States. The Company operates in two business segments, which include the processing and distribution of frozen products, and the processing and distribution of snack food products. The Company’s frozen food products segment serves both food service and retail customers. The Company, through its frozen food products segment, sells approximately 160 frozen food products through wholesalers, cooperatives and distributors to approximately 21,000 retail outlets and over 23,000 restaurants and institutions. The Company through snack food products segment sells approximately 90 different items through customer owned distribution centers and a direct store delivery network serving approximately 15,000 supermarkets, mass merchandise and convenience retail stores located in over 45 states. BRIDGFORD FOODS CORPORATION (NASDAQ:BRID) Recent Trading Information
BRIDGFORD FOODS CORPORATION (NASDAQ:BRID) closed its last trading session down -0.47 at 11.90 with 300 shares trading hands.