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Diamond Foods Announces Results of Annual Meeting

Monday, January 14, 2013 5:15 PM


Stockholders Approve All Proposals Recommended by Board of Directors

SAN FRANCISCO, Jan. 14, 2013 (GLOBE NEWSWIRE) -- Diamond Foods, Inc. (Nasdaq:DMND) today announced the results of voting at its annual meeting of stockholders, which was held today. At the meeting, stockholders approved all the proposals recommended by the Company's Board of Directors in its proxy statement dated December 10, 2012, including:

  • The election of Alison Davis, Brian J. Driscoll and Nigel A. Rees as Class I directors to serve on the Company's Board of Directors until the 2015 annual meeting, and Robert M. Lea, Matthew C. Wilson and William L. Tos, Jr. to serve as Class II directors until the 2016 annual meeting;
     
  • The ratification of the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ended July 31, 2012;
     
  • Approving, on an advisory basis, the compensation paid to Company-named executive officers, known as the "Say-on-Pay" vote; and
     
  • Selecting, on an advisory basis, annual frequency for future Say-on-Pay votes.

Diamond also confirmed that with the expiration of the terms of Directors Laurence M. Baer and Glen C. Warren, Jr., the size of its Board has now been reduced to nine members. Robert Zollars continues to serve as Diamond's Chairman of the Board, and, beginning today, the membership of the committees of the Board of Directors will be as follows:

  • Audit Committee - Nigel Rees (Chair), Alison Davis and Dean Hollis
     
  • Compensation Committee - Alison Davis (Chair), Ed Blechschmidt and Robert Zollars
     
  • Nominating and Governance Committee - Ed Blechschmidt (Chair), Robert Zollars and Dean Hollis

"I would like to thank Larry Baer and Glen Warren for their service to the Company as long-time Directors on our Board and express our appreciation for their leadership and expertise during their years of service," said Robert J. Zollars, Diamond's Chairman of the Board.

The Diamond Foods Board of Directors also approved the continued appointment of the following executive officers of the Company:

Andrew Burke David Colo
Executive Vice President Executive Vice President
Chief Marketing Officer Global Operations and Supply Chain
   
Lloyd Johnson Stephen Kim
Executive Vice President Senior Vice President
Chief Sales Officer General Counsel
   
Michael Murphy Linda Segre
Interim Chief Financial Officer Senior Vice President
  Corporate Strategy and Human Resources

About Diamond Foods

Diamond Foods is an innovative packaged food company focused on building and energizing brands including Kettle Brand® Chips, Emerald® snack nuts, Pop Secret® popcorn and Diamond of California® nuts. Diamond's products are distributed in a wide range of stores where snacks and culinary nuts are sold. For more information visit our corporate web site: www.diamondfoods.com.

The Diamond Foods, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6112

CONTACT: Investors:
         Diamond Foods
         Linda Segre
         SVP, Corporate Strategy
         (415) 230-7952
         lsegre@diamondfoods.com
         
         Media:
         Sard Verbinnen & Co for Diamond Foods
         Lucy Neugart/Alyssa Linn
         (415) 618-8750
         lneugart@sardverb.com
         alinn@sardverb.com

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(Source: PrimeZone )
(Source: Quotemedia)

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