MGP Ingredients Announces Executive and Board Leadership Changes

In This Article:

Brandon Gall appointed Interim President and CEO to succeed David Bratcher;
Donn Lux to succeed Karen Seaberg as Chairman of the Board;
Reaffirms 2024 sales and earnings guidance

ATCHISON, Kan., December 20, 2024--(BUSINESS WIRE)--MGP Ingredients, Inc. (Nasdaq: MGPI), today announced that the Board of Directors has appointed Brandon Gall, MGP’s Chief Financial Officer, to the additional position of Interim President and Chief Executive Officer, effective January 1, 2025, succeeding David Bratcher. Bratcher will resign from the Board of Directors on December 31, 2024 and has agreed to remain available for advisory services to facilitate a smooth transition, after which he plans to retire.

The Company also announced that Donn Lux, a current member of the Board, will succeed Karen Seaberg as Chairman of the Board to guide the company during this challenging environment for the alcohol spirits industry. Lux will lead the Board search for a permanent CEO, considering both internal and external candidates, to drive dynamic growth and elevate the performance of our branded spirits portfolio. Ms. Seaberg will remain a member of the Board.

"On behalf of the Board of Directors, I want to thank David for his dedication to MGP and we wish him the best in his future endeavors," said Karen Seaberg, Chairman of the Board. "I am delighted the Board has appointed Brandon Gall as our Interim President and CEO and welcome Donn Lux as the incoming Chairman. Donn’s decades of branded spirits experience, vision, and leadership uniquely positions him to guide MGP toward becoming a premier branded spirits company."

Donn Lux, incoming Chairman of the Board, said, "I am honored to step into the role of Chairman of the Board and deeply grateful for the trust and support of my fellow Board members. I want to thank Karen for her exceptional leadership and the strong foundation MGP has built under her leadership. We are fortunate to have Brandon’s knowledge and experience during this transition period. As we look ahead, I am excited to work alongside our talented Board and executive team to drive MGP into the next phase of growth and emerge even stronger as a leading player in the branded spirits industry."

"I am honored to step into the role of Interim President and CEO," said Brandon Gall. "I am committed to ensuring continuity and driving forward our strategic initiatives during this transitional period."

David Bratcher, President and Chief Executive Officer, remarked, "It has been a privilege to serve as President and CEO of MGP after leading Luxco for many years. I am deeply grateful to our incredible team for their hard work, dedication, and commitment to our shared vision. I also want to express my heartfelt gratitude to my family for their unwavering support and encouragement throughout this journey. As I step away, I am confident that MGP is in excellent hands and will continue to thrive in the years to come."