FIVE POINTS, Calif., Dec. 11, 2014 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW) today announced that alfalfa seed industry veteran and current member of the Board of Directors, Mark Harvey, has been appointed Chairman of S&W's Board of Directors, effective December 9, 2014. Mr. Harvey, age 59, was appointed following the retirement of current board chairman, Grover Wickersham, who will remain a member of the Board of Directors.
Mark Harvey commented, "I am extremely pleased to take over as Chairman of S&W Seed Company. S&W is establishing itself as a leader in the alfalfa seed industry, looking to capitalize off some very important macro trends, including the desire by an expanding global population to increase the protein in their diets. This ability for a global farming community to meet this expanding demand is being met with the constraints of decreasing arable land to be farmed on and an increase in crops being utilized for other purposes, such as energy utilization. S&W boasts some of the world's leading alfalfa seed genetics and is in a prime position to leverage off both of these dynamics to expand its share of the market for years to come. We also have a significant opportunity within the stevia industry to establish a leadership position by breeding and developing unique varieties that can address very specific end market uses, such as the commercial processing or fresh and dry leaf markets."
Mr. Harvey became a member of the Board of Directors of S&W Seed Company following the Company's acquisition of Seed Genetics International in April 2013. Mr. Harvey has more than 35 years of experience in production processing and marketing of seed to many parts of the world, particularly branded alfalfa and clover. Mr. Harvey managed a 10,000 acre family farm producing seed, wheat and pulse crops, along with wool and beef, from 1976 until 1996 when the company he founded, Paramount Seeds, was sold to Elders Ltd. While with Elders, Mr. Harvey was manager of their national and international seed business from 1996 until 2001. In 2002, he was one the founding members of Seed Genetics International where he focused primarily on marketing and distribution. Mr. Harvey was educated at Cunderdin Agricultural College in West Australia.
Mr. Harvey concluded, "I would like to thank Grover Wickersham for his many years of service as chairman, and look forward to working closely with the management and fellow board members to achieve the goals that are set out by this company that we believe will be drivers of increased shareholder value for years to come."
About S&W Seed Company
Founded in 1980, S&W Seed Company is a global agricultural company, headquartered in the Central Valley of California. The Company is the largest producer of non-dormant alfalfa seed varieties in the world, with production operations in the San Joaquin and Imperial Valley's of California, as well as in South Australia. The Company has worldwide sales and distribution through both a direct sales force as well as dealer-distributors. The Company's proprietary varieties are designed to meet the shifting needs of farmers that require high performance in poor and highly saline soil conditions and have been verified over decades of university-sponsored trials. Additionally, the company is utilizing its research and breeding expertise to develop and produce U.S.-based stevia leaf. Stevia is an all-natural, zero calorie sweetener for the food and beverage industry. For more information, please visit www.swseedco.com.
Safe Harbor Statement
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in the Company's 10-K for the fiscal year ended June 30, 2014, and other filings made by the Company with the Securities and Exchange Commission.
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SOURCE S&W Seed Company