Coffee Sipping Big Board Stocks

[timhyma]

The more I think about the shift in MGPI's management, the more it makes sense- getting a younger, more motivated person to run the company, instead of a guy that is bored after running it over 20 years <bg>.

MGP Ingredients CEO Stepping Down
Friday October 19, 9:37 am ET
Seaberg to Step Down Next Year As MGP Ingredients CEO


ATCHISON, Kan. (AP) -- After 20 years at the helm, Ladd Seaberg said he will step down as chief executive officer of MGP Ingredients Inc. when the company's fiscal year ends June 30.
Tim Newkirk, the company's president and chief operating officer, will succeed Seaberg in a transition plan the company said has been in the works for two years.

Seaberg, 61, who first started at MGP as a distillery production manager in 1969, became CEO in 1988. He said he had long planned to retire to spend more time with his family.

He said he will remain chairman of the company.

Newkirk, 39, first joined MGP as a distillery shift manager in 1991 and rose through the company before moving to Abengoa Bioenergy Corp. in 2000. He rejoined MGP in 2005 and became chief operating officer in May 2006.

MGP makes a number of food and beverage ingredients. It has seen larger sales in recent years from its business making ethanol.