Exhibit 99.1
-MORE-
Contacts:
Dolph Baker, Chairman
Max P. Bowman, Vice President and CFO
(601) 948-6813
CAL-MAINE FOODS, INC. NAMES SHERMAN MILLER
PRESIDENT AND CHIEF EXECUTIVE OFFICER
DOLPH BAKER TO REMAIN CHAIRMAN OF THE BOARD OF DIRECTORS
RIDGELAND, Miss.
(September 30,
2022)
—
Cal-Maine Foods,
Inc. (NASDAQ:
CALM)
today announced
that
its
Board
of Directors
has
named Sherman
L.
Miller President
and Chief
Executive Officer
of
the
Company, effective immediately. He will succeed Dolph Baker as Chief Executive Officer. Mr. Baker will
retain
his
role
as
Chairman
of
the
Company’s
Board
of
Directors
and
as
an
executive
officer
of
the
Company. and will remain actively involved in
managing the Company, with a focus on
strategy, capital
allocation, advising
the senior
management team
and leading
the Board.
This transition
is consistent
with
the Board’s succession planning process.
Sherman
Miller
joined
the
Company
in
1996
and
has
served
in
various
management
positions
during
his
26-year
tenure,
most
recently
as
President
and
Chief
Operations
Officer.
He
was
elected
President in 2018,
Chief Operations Officer
in 2011 and
Vice President of
Operations in 2007.
Prior to
this, he served
in management positions at
various processing plant locations
including Chase, Kansas;
Delta, Utah; and Edwards, Mississippi.
He became a member of the Cal-Maine
Foods Board of Directors
in 2012. He will remain interim Chief Operations Officer until a successor is named. Miller is very active
in
the
egg
industry
and
serves
as
a
director
of
the
U.S.
Poultry
and
Egg
Association
and
United
Egg
Producers, and past director of the American Feed Industry Association. He graduated from Mississippi
State University with a bachelor’s degree in poultry science.
Commenting on the
appointment, Dolph Baker
stated, “Sherman has
dedicated his entire
career
to
Cal-Maine
Foods
and
is
extremely
well
qualified
for
this
leadership
position,
having
the
right
complement of operational
experience and strategic
vision. He has
been a proven
leader in managing
our
operations through
the various
market cycles
that are
characteristic of
our industry.
Under his
leadership,
the Company has achieved tremendous
growth, and he has the full confidence
of the Board that he is the
right
person
to
lead
the
Company
forward.
Sherman
is
well-respected
within
the
Company,
by
our
customers and throughout our industry. I look
forward to our continued strong working
relationship as
we execute our growth strategy.”
Sherman Miller
added, “I
am proud
and honored
to assume
this role
with Cal-Maine
Foods. Dolph
has been a tremendous leader and mentor, and we will continue to benefit from his valuable insight and
deep knowledge of
the Company. He has
established Cal-Maine Foods
as a leader
in our industry,
and we
will continue to work together and build upon this proud legacy
and history of success. Cal-Maine Foods
has a
proven business
model with
a favorable
product mix,
a strong
focus on
efficient and
sustainable
operations,
and
a
solid
base
of
valued
customers.
With
the
support
of
our
capable
and
experienced
management team and
an outstanding team
of employees throughout our
operations, I am excited
about
the opportunities ahead for Cal-Maine Foods.”
