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SOURCE S&W Seed Company
Mike Nordstrom transitions to Chairman of S&W Australia
FIVE POINTS, Calif., Nov. 1, 2013 /PRNewswire/ -- S&W Seed Company (NASDAQ: SANW), announced today that Ann M. Veneman, Former U.S. Secretary of Agriculture and Executive Director of UNICEF, has been nominated for election to its Board of Directors at the 2013 annual meeting of its stockholders in December. The Company also announced that Mike Nordstrom, a founding director of S&W, will not stand for re-election at the 2013 annual meeting, but will instead join the board of S&W Australia as Chairman.
Secretary Veneman brings to the S&W Board more than 25 years of public service, where she held senior positions, nationally and internationally. From 2001 to 2005 Veneman served as the United States Secretary of Agriculture where she led an organization of over 110,000 employees, with an annual budget of $113 billion. From 2005 to 2010 she was Executive Director of UNICEF, the agency of the United Nations that is tasked with advocating and protecting the rights of children worldwide. In that position she managed approximately 11,000 UNICEF employees in more than 150 countries. A California native, Veneman was Secretary of the California Department of Food and Agriculture from 1995 to 1999. From 1986 to 1993, Ms Veneman held various USDA positions, including Deputy Secretary, Deputy Undersecretary for International Affairs and Commodity Programs, and Associate Administer of the Foreign Agricultural Service. Veneman has also practiced law in Washington, DC and California in both the private and public sectors.
"When it comes to agriculture, few people have been appointed to more top public service leadership positions than Secretary Veneman," said Grover Wickersham, S&W's Chairman of the Board. "We look forward to welcoming her to our Board of Directors annual meeting in December."
If elected, Ms. Veneman will fill the Board seat to be vacated by Michael N. Nordstrom who will not stand for re-election to S&W's Board when his term expires at this year's annual meeting. Mr. Nordstrom will continue to serve the S&W Board as a senior advisor and will be joining the board of directors of S&W's Australian subsidiary as Chairman. Mr. Nordstrom has served on S&W's Board since incorporation in October 2009.
"Mike Nordstrom's will continue to serve in various leadership roles and will chair the S&W Australia board. Mike has been a major contributor to S&W's success so far and we value his expertise, contacts in agriculture and common sense counsel. In his new role, he will be instrumental in expanding our Australian operations, and maximizing the benefits of the integrated company," said Grover Wickersham.
About S&W Seed Company
Founded as a partnership in 1980, S&W Seed Company is now a global agricultural corporation, headquartered in the Central Valley of California. The company is the largest producer of non-dormant, alfalfa seed varieties in the world, with production operations in the San Joaquin and Imperial Valley's of California, as well as in South Australia. The company has worldwide sales and distribution through both a direct sales force as well as dealer-distributors. The company's proprietary varieties are designed to meet the shifting needs of farmers that require high performance in poor and highly saline soil conditions and have been verified over decades of university-sponsored trials. Additionally, the company is utilizing its research and breeding expertise to develop and produce U.S.-based stevia leaf. Stevia is an all-natural, zero calorie sweetener from the food and beverage industry. For more information, please visit www.swseedco.com.
Safe Harbor Statement
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in the company's Annual Report on Form 10-K for the fiscal year ended June 30, 2013, and in other filings made by the Company with the Securities and Exchange Commission.
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