The Scoular Company Announces Retirement of CEO Randal Linville
April 7, 2009
Elects 28-Year Veteran Chuck Elsea as New CEO
OMAHA, NE – The Scoular Company today announces the retirement of Randal Linville from the positions of President, Chief Executive Officer, and director. Mr. Linville retires after serving the Company for 25 years in positions of increasing responsibility, the last 10 as President and CEO. Linville’s tenure at Scoular caps a 33-year career in the agriculture commodity industry where, in recent years, Linville served as Chairman of the Commodity Markets Council, Chairman of the Farmhouse Foundation and President of the Transportation, Elevator and Grain Merchants Association (TEGMA).
“I am leaving the Company in the hands of a strong and deep management team committed to a long-term strategy that positions the Company for continued success. I am very proud of what has been accomplished and look forward to new opportunities to diversify my business interests, serve and support the non-profit sector, and participate in corporate governance, as well as spend more time with my family,” said Linville.
Scoular’s Board of Directors has elected Charles (“Chuck”) Elsea to serve as Chief Executive Officer, effective immediately. Mr. Elsea moves into the CEO role after having served as a Senior Vice President and director for the last eight of his 28 years at Scoular. “I am fortunate to have this opportunity at a time when Scoular’s leadership team and employees throughout North America are both aligned with and well grounded in our strategy. We will continue on the course that has generated considerable success in the last many years, focusing on promising agricultural markets that are growing and changing.”
Marshall Faith, Chairman of the Board of Directors at Scoular, expressed confidence in the Company’s future “particularly with the strong leadership of both Chuck Elsea and 20-year company veteran Bob Ludington who is beginning his third year in the critical role of Chief Operating Officer. Bob has both experience and a thorough understanding of our operations, and as a result, he continues to manage our diverse portfolio with great skill and foresight.”
Mr. Faith also thanked Mr. Linville for his years of service at Scoular, stating that “we would not be the company we are today without Randy’s vision and leadership to align Company resources and build a diverse business portfolio. The fruits of those efforts will remain with us for some time to come.”
No other changes have been made in Scoular’s management. Mr. Elsea’s responsibilities for management of some of the Company operations will be assumed by others already serving in similar capacities. Randy’s position on Scoular’s Board of Directors will be filled at the next annual meeting of shareholders in September.