Exhibit 99.1
1400 Toastmaster Drive, Elgin, Illinois 60120 (847) 741-3300 www.middleby.com
Middleby Appoints Ed Garden and Julie Bowerman to its Board of Directors
ELGIN, Ill., February 25, 2025 – The Middleby Corporation (NASDAQ: MIDD), a leading worldwide manufacturer of equipment for commercial foodservice, residential kitchens and food processing industries, today announced the appointment of Julie Bowerman and Ed Garden to its Board of Directors, effective immediately.
Ms. Bowerman is an experienced public company director with more than 25 years of success in the food and beverage industry. She currently serves as Chief Marketing Officer of Kellanova Company. Ms. Bowerman previously served as Chief Marketing Officer and E-Commerce Officer of Kellogg Company before Kellanova was created through a 2023 spin-off by Kellogg’s. Prior to that, she held senior leadership positions at Hain Celestial Group and The Coca-Cola Company. In those roles, Ms. Bowerman led the global development of digital capabilities and omni-channel business models that generated incremental topline growth and bottom-line accretion. She currently serves on the Boards of Bridges Consumer Healthcare LLC and Brixmor Property Group.
Mr. Garden is the Founding Partner of Garden Investments and was formerly the Chief Investment Officer and a Founding Partner of Trian Partners, and currently serves as a director at General Electric Company. He brings investment and financial expertise, as well as a strong track record of enhancing value for shareholders. With deep public company board experience, Mr. Garden has previously served as a director of, among other companies, Invesco Ltd., Legg Mason, Inc., The Bank of New York Mellon Corporation, Family Dollar Stores, Inc., Pentair plc and The Wendy’s Company.
“We are pleased to welcome Julie and Ed to Middleby’s Board,” said Tim FitzGerald, Middleby CEO. “We are confident they will be valuable additions to our boardroom with unique expertise and insights as we advance the execution of Middleby’s long-term strategy and maximize shareholder value. I look forward to partnering with Julie and Ed on the path ahead to continue unlocking Middleby’s value potential as we optimize our portfolio and complete our spin-off transaction to best position Middleby Food Processing and Middleby RemainCo for success and industry leadership.”
“The Board additions announced today reflect Middleby’s long-standing commitment to best-in-class governance practices and active, constructive shareholder engagement,” said Gordon O’Brien, Middleby Board Chairman. “The appointment of Julie follows a comprehensive and ongoing review of a strong slate of candidates, supported by external advisors, all as part of our refreshment process. As Middleby moves into its next chapter, we are confident that Julie and Ed will strengthen our Board’s depth of expertise with their fresh perspectives as we drive value for our shareholders.”
“It is a privilege to join Middleby’s Board at this pivotal time for the Company as it executes its value-enhancing spin-off transaction, creating two standalone, independent companies that will each be able to pursue their own growth strategies with renewed focus and vigor,” said Mr. Garden. “Middleby is a great company and well-positioned at the forefront of the industry, with positive momentum and a clear strategy to optimize its portfolio and drive future growth and shareholder value. I look forward to working closely with Tim and the rest of the Board and management team to support the strategic and operational initiatives underway and create long-term value for shareholders.”
