Henderson, Nevada
March 16, 1999Richard Budd, chairman
and CEO, AgriBioTech Inc. announced that James W.
Johnston has been elected to and joins the company's board of directors as an outside
director.
As previously announced, ABT is continuing its search for three new and additional outside
directors to add to its board. Once all three of these additional outside board members
are appointed, ABT will have a nine-person board of directors with a majority of members
being outside directors.
Johnston, 52, is president and CEO of Stonemarker Enterprises Inc., a consulting and
investment
company. He previously served as vice chairman of RJR Nabisco Inc., a holding company,
from
1995 to 1996. From 1989 to 1996, he also served as chairman of R.J. Reynolds Tobacco Co.,
and
was CEO of that company until 1995.
Johnston was named a director of RJR Nabisco Holdings Corp. in 1992 and chairman of R.J.
Reynolds Tobacco International Inc. in 1993. He retired from R.J. Reynolds in July 1996.
Johnston began his business career with Ford Motor Co. In addition to Ford, he has held
senior
management positions at various subsidiaries of Northwest Industries Inc. and Citibank
N.A. He
serves on various boards, including the Sealy Corporation and various non-profit
organizations.
"We are extremely pleased that Jim Johnston has agreed to join our board of
directors,'' said Budd in making the announcement, "and we look forward to his good
counsel and working with him on building ABT into a profitable and industry-leading seed
company.''
AgriBioTech is a fully integrated, full-service seed company specializing in the forage
and turfgrass seed sector, complete with research and development of proprietary seed
varieties, seed processing plants, and a national and international distribution and sales
network. ABT's vision is to lead the turf and forage seed industry in discovering its
value potential.
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