Scott, Mississippi
June 3, 2002
-
CEO Murray
Robinson to retire; will continue as Vice Chairman
-
SVP and CFO W. T.
Jagodinski to become President and CEO on September 1
-
VP of Business
Development R. D. Greene named VP Finance and Treasurer
Delta and Pine Land
Company (NYSE:DLP), a leading commercial breeder, producer
and marketer of cotton planting seed, today announced that
consistent with its succession plan, Murray Robinson will retire
as President and Chief Executive Officer August 31, 2002 and W.
T. ("Jag") Jagodinski, who was named Executive Vice President,
will succeed Robinson as President and Chief Executive Officer,
effective September 1, 2002. In addition, Rick Greene, 32, D&PL
Vice President of Business Development, has been named Vice
President Finance and Treasurer, effective immediately.
Jagodinski, 45, an
11-year D&PL veteran most recently served as Senior Vice
President and Chief Financial Officer. Robinson, 68, will
continue as Vice Chairman and Jon E. M. Jacoby, 63, will remain
Chairman. Charles R. ("Randy") Dismuke, 47, will continue in his
role as Senior Vice President and head of U.S. operations, with
oversight for sales and marketing, distribution, and production
of seed.
"We are delighted
that Jag will become our CEO," said Jacoby. "His keen
understanding of all aspects of our domestic and international
operations as well as his broad financial experience will enable
D&PL to successfully execute its long-term growth strategy – a
strategy that he collaborated in developing. I also want to
thank Murray Robinson for the tremendous job he has done during
his 14-year tenure with the Company."
Robinson commented,
"We have effectively accomplished the repositioning of D&PL’s
technology sources -- a goal we set two years ago -- and it is
the right time for me to step away from day to day operation of
the Company. Jag and I, supported by our other senior managers,
have worked extensively together to pursue business
opportunities that would continue to provide valuable
technologies to our farmer customers yet increase benefits to
our shareholders. Jag’s capabilities as a leader and a manager
make him ideally suited to take D&PL to the next level in the
years ahead. Also, Rick has played a key role in formulating the
Company’s international strategy and bringing the recently
announced trait development collaborations to fruition, and we
look forward to his continued contributions. Having Randy
Dismuke and other senior managers continue in their leadership
positions gives the company not only depth of experience but
also continuity in customer and industry relationships."
Jagodinski said, "It
has been a privilege for me to work alongside Murray in
developing a long-term growth strategy designed to leverage
D&PL’s expertise and reduce its reliance on third parties for
technologies that benefit our farmer customers while increasing
value for our shareholders. Rick Greene’s involvement in our
current strategic moves, along with his broad experience, make
him a sound choice to take over the financial team. We have a
strong management team and talented work force that will help us
take advantage of D&PL’s strong market position and many growth
opportunities in the coming years."
Jagodinski has
served as Senior Vice President and Chief Financial Officer of
D&PL since September 2000. He joined D&PL in 1991 as Director of
Corporate Accounting and Financial Reporting. He served as Vice
President Finance and Treasurer from 1993 until 2000. Prior to
joining D&PL, Jagodinski spent eight years at Arthur Andersen
LLP in various capacities. Before that, he worked for five years
at Price Waterhouse. Jagodinski earned a BBA in Accounting from
the University of Mississippi in 1978.
Greene has served as
Vice President Business Development since September 2000, and
from 1997 until 2000 as Director of International Taxation and
Finance at D&PL. Prior to joining the Company, he served in
various capacities at Arthur Andersen LLP since 1991. Greene
earned a BS in Accounting from Christian Brothers University in
1992.
Delta and Pine Land
Company is a commercial breeder, producer and marketer of cotton
planting seed. Headquartered in Scott, Mississippi, with
multiple offices in eight states and facilities in several
foreign countries, D&PL also breeds, produces and markets
soybean planting seed.
|