Wayne B. Hoovestol
Chairman of the Board of Directors
The terms of Jim Anderson and Wayne Hoovestol
expire at the 2014 annual meeting.
The Board believes that its current leadership structure, with Mr. Hoovestol, a non-employee serving as the Board Chairman, and Mr. Becker serving as the Chief Executive Officer, is appropriate given the experience of each individual.
WAYNE HOOVESTOL, 55, has served as a director since March 2006 and as Chairman of the Board since October 2008.
Mr. Hoovestol served as the Company’s Chief Operating Officer from January 2007 to February 2007, Chief Executive Officer from February 2007 to December 2008, and Chief Strategy Officer from March 2009 to November 2009.
no longer is an employee of the Company.
began operating Hoovestol Inc., a trucking company, in 1978.
He is also President of Lone Mountain Truck Leasing, which he founded in 2005.
Mr. Hoovestol became involved with the ethanol industry as an investor in 1995, and has served on the boards of two other ethanol companies.
Mr. Hoovestol also served on the board of CapSource Financial, Inc., a truck trailer sales and leasing company, from May 2005 to March 2007.
The Board concluded that Mr. Hoovestol
should serve as a director because of his
former leadership as chief executive officer, as well as the business perspective he
brings to the Board through his
ownership of other entities and investments in other ethanol companies.
was an employee until November 2009 and did not receive director compensation prior to that date.
Wayne Hoovestol, Chairman
Wayne Hoovestol (5)
Excludes shares beneficially owned by NTR
and Wayne Hoovestol
that may be beneficially owned by Wilon
, but which Wilon
disclaims beneficial ownership of such shares except to the extent of its pecuniary interest.
2,070,716 shares are owned by Wilon
Excludes shares beneficially owned by NTR and Wilon
that may be beneficially owned by Mr. Hoovestol
, but which Mr. Hoovestol
disclaims beneficial ownership of such shares except to the extent of his
Includes 30,000 shares owned by Mr. Hoovestol’s wife.
Wayne B. Hoovestol, President of Hoovestol Inc., is Chairman of the Company’s Board of Directors.