Farmer Bros., a leading coffee and beverage company, has announced a change in leadership. The company has mutually agreed to terminate the employment of Chief Executive Officer Deverl Maserang, effective September 30th. In his place, John Moore, with over 30 years of experience in the industry and a former CEO of Vassilaros Coffee, has been appointed as the interim CEO, starting from October 1st.
Smooth Transition Expected
Maserang will continue to serve on the board of directors until a permanent successor is found. During this transition period, Maserang will be entitled to severance pay and benefits as outlined in his employment agreement dated September 6, 2019.
Strong Leadership Continues
The CFO position is also undergoing a change, with Scott Drake concluding his employment on October 1st. Brad Bollner, who previously held leadership positions at Dave and Buster’s, Vail Resorts, and GameStop, has been appointed as the interim CFO, effective the same day. The board remains confident in the capabilities of Bollner to lead the financial operations smoothly during this interim period.
For more information or inquiries, please contact Farmer Bros. directly.