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Brown-Forman Director Retires

^{Published on 2009-01-22 08:04:12, Last Modified on 2009-01-22 08:04:49 - Market Wire}
 

LOUISVILLE, Ky.--([ BUSINESS WIRE ])--[ Brown-Forman ] (NYSE:BFB)(NYSE:BFA) announced today that Matthew R. Simmons is retiring from the company's board of directors, effective at the conclusion of today's board meeting. Simmons, who has been a director since 2002, is leaving to devote more time to his business, Simmons & Company International, a specialized energy investment banking firm. "I regret that my other responsibilities require me to leave the [ Brown-Forman ] board, but I depart knowing that the company is in the very capable hands of CEO Paul Varga, Presiding Board Chairman Garvin Brown, an outstanding board of directors, and the exceptional management team that works with them," said Simmons.

Simmons is also the author of the noteworthy 2005 book, "Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy," which stated that the world's oil production was nearing, or already at, its apex, making him one of the world's preeminent experts on the "peak oil" movement.

The retirement of Simmons reduces the number of directors on [ Brown-Forman's ] board to twelve. Garvin Brown IV, presiding chairman of the [ Brown-Forman ] board of directors, commented, "Matt Simmons has provided exemplary service to our company over the last seven years and we thank him for his many contributions and his strategic counsel."

During its meeting today, [ Brown-Forman's ] board of directors declared a regular quarterly cash dividend of $0.2875 per share on Class A and Class B Common Stock. Stockholders of record on March 6, 2009 will receive the cash dividend on April 1, 2009.

This year marks the 63^rd consecutive year that [ Brown-Forman ] has paid quarterly dividends.

[ Brown-Forman ] Corporation is a producer and marketer of fine quality beverage alcohol brands, including [ Jack Daniel's ], [ Southern Comfort ], [ Finlandia ], [ Canadian Mist ], [ Fetzer, ][ Korbel ], [ Gentleman Jack ], [ el Jimador ], [ Tequila Herradura ], [ Sonoma-Cutrer ], [ Chambord ], [ Tuaca ], [ Woodford Reserve ], and [ Bonterra ].