\nBrown-Forman Corporation (NYSE:BFA, BFB) announced today that Campbell P. Brown<\/b> will step down as Chair of the Brown-Forman Board of Directors in July. Subject to his reelection at the annual meeting, he will continue to serve on the Board as a Director. Marshall B. Farrer<\/b>, a fifth-generation descendent of the company’s founder and a current Director of the Board, will assume the role of Chair of the Board, subject to his reelection to the Board.<\/p>\n
This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20241125906365\/en\/<\/a><\/p>\n Brown-Forman Board of Directors Members: Marshall B. Farrer (left) and Campbell P. Brown (right). (Photo: Business Wire)<\/p>\n<\/div>\n \n\u201cIt has been an honor to serve as Chair of the Board and to work alongside the many talented professionals who comprise Brown-Forman’s Board of Directors and Executive Leadership Team. Brown-Forman has always believed that thoughtful, well-planned leadership transitions strengthen our company for the long term. After working closely with Board leadership, the time is right to entrust the role of Chair to my cousin and fellow Board member, Marshall Farrer,\u201d said Campbell P. Brown<\/b>, Chair of the Board.<\/p>\n \n\u201cWe extend our deepest gratitude to Campbell for his exceptional leadership as Board Chair. His fresh perspectives, unwavering trust, and strategic guidance have been invaluable during his tenure. We are grateful for his steady hand and approach, which have significantly contributed to Brown-Forman\u2019s success,\u201d said Michael Todman<\/b>, Lead Independent Director.<\/p>\n \nDuring Brown\u2019s tenure, Brown-Forman continued its premium portfolio reshaping through the acquisitions of Gin Mare and Diplom\u00e1tico Rum. Brown led the Board through periods of significant volatility, including a pandemic, supply chain disruptions, macroeconomic challenges, and tariffs on American whiskey, and facilitated the selection and integration of four new Board members. His balanced thinking, depth of experience across the company\u2019s organizations, and aptitude for bringing people together, provided a strong foundation of leadership through the four years served as Chair.<\/p>\n \nBrown-Forman President and CEO Lawson Whiting<\/b> added, \u201cCampbell has been a strategic thought partner to me for many years. His unique perspective as a fifth-generation Brown family member and a leader with brand and commercial experience has been invaluable. Throughout his years of service, from employee to Board member to Board Chair, Campbell has demonstrated an unparalleled commitment to Brown-Forman and its people.\u201d<\/p>\n \nWhiting continued, \u201cAs we look to the future, Marshall\u2019s strategic vision and deep industry expertise will be key as we navigate the next chapter of growth at Brown-Forman. This transition represents the continuation of a legacy of stewardship that underscores the shared belief that there is truly \u2018Nothing Better in the Market\u2019 than Brown-Forman.\u201d<\/p>\n \n\u201cMarshall\u2019s exemplary leadership and understanding of the global potential of the company\u2019s portfolio and partnerships will undoubtedly elevate Brown-Forman to new heights. The Board looks forward to collaborating with him to drive innovation and encourage the company\u2019s long-term success,\u201d said Tracy Skeans<\/b>, Chair, Corporate Governance and Nominating Committee.<\/p>\n \n\u201cBeing named Chair of the Board is a profound honor, and I am deeply grateful for the trust placed in me by my fellow Board members. I look forward to building on the strong foundation laid by Campbell and continuing our legacy of strategic growth,\u201d said Marshall B. Farrer<\/b>, EVP, Chief Strategic Growth Officer, and Director.<\/p>\n \nFarrer will become the eleventh Brown family member and third fifth-generation family member to serve as Chair of the Board of Directors.<\/p>\n Campbell P. Brown:<\/b><\/p>\n \nCampbell Brown became Chair of the Board of Directors at Brown\u2010Forman Corporation in 2021. Previously, he served as the President and Managing Director of Old Forester Kentucky Straight Bourbon Whisky, Brown\u2010Forman\u2019s founding bourbon brand. A great-great grandson of Brown\u2010Forman\u2019s founder, Brown worked at Brown-Forman for over 27 years and has served on the Board for eight years. He began his career by driving business development in emerging markets like India and Turkey. Upon returning to the U.S., he took on increasing responsibilities, including Brand Manager for Jack Daniel\u2019s Tennessee Whiskey, and later, President of Old Forester. Brown is a founding member of the Brown\u2010Forman\/Brown Family Shareholders Committee and served on the board of Dendrifund. He previously represented Brown\u2010Forman on the Board of Directors for the Kentucky Distillers Association.<\/p>\n Marshall B. Farrer:<\/b><\/p>\n \nMarshall Farrer, a fifth-generation Brown family shareholder, joined the Board of Directors in 2016. Marshall started his career at Brown\u2010Forman in 1998 as a Market Manager in the Wine Division in California, and has since held various positions of increasing responsibility. In 2006, he became Director of Latin America and the Caribbean, later moving to Sydney as Managing Director for Australia, New Zealand, and South Pacific. He led the global expansion of Jack Daniel\u2019s Tennessee Honey and managed the Global Travel Retail business. In 2020, Marshall relocated to Amsterdam and London as President of Europe and joined the Executive Leadership Team. He was named Executive Vice President and became, and continues to serve as, Brown\u2010Forman\u2019s first Chief Strategic Growth Officer in 2023. Additionally, he has served on the Board of Directors of The Duckhorn Portfolio, Inc. (NYSE: NAPA) since May 2024.<\/p>\n About Brown-Forman:<\/b><\/p>\n \nBrown-Forman Corporation has been building exceptional spirits brands for more than 150 years, responsibly upholding our founding promise of \u201cNothing Better in the Market.\u201d Our portfolio of premium brands includes the Jack Daniel\u2019s Family of Brands, Woodford Reserve, Herradura, el Jimador, Korbel, New Mix, Old Forester, The Glendronach, Glenglassaugh, Benriach, Diplom\u00e1tico Rum, Chambord, Gin Mare, Fords Gin, Slane, and Coopers\u2019 Craft. With a team of approximately 5,700 employees worldwide, we proudly share our passion for premium beverages in more than 170 countries. Discover more about us at Brown-Forman.com and stay connected through LinkedIn, Instagram, and X.<\/p>\n Important Information on Forward-Looking Statements:<\/b><\/p>\n \nThis press release contains statements that are \u201cforward-looking statements\u201d as defined under U.S. federal securities laws. These forward-looking statements reflect management\u2019s expectations or projections regarding future events and speak only as of the date we make them. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. By their nature, forward-looking statements involve risks, uncertainties, and other factors (many beyond our control) that could cause our actual results to differ materially from our historical experience or from our current expectations or projections.<\/p>\n \nFor further information on factors that could cause our actual results to differ materially from our historical experience or from our current expectations or projections, please refer to our public filings, including the \u201cRisk Factors\u201d section of our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20241125906365\/en\/<\/a><\/span><\/p>\n Elizabeth Conway Sue Perram KEYWORDS:<\/b> United States North America Kentucky<\/p>\n INDUSTRY KEYWORDS:<\/b> Retail Restaurant\/Bar Food\/Beverage Wine & Spirits<\/p>\n![\"Brown-Forman](\"https:\/\/mms.businesswire.com\/media\/20241125906365\/en\/2315246\/4\/DSC00896FinalB.jpg\")
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<\/b>Director
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External Communications
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502-774-7737
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elizabeth_conway@b-f.com<\/a><\/p>\n
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<\/b>Vice President
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Investor Relations
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502-774-6862
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sue_perram@b-f.com<\/a><\/p>\n
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