HF Foods Group Inc. (NASDAQ: HFFG), a prominent distributor in the food service industry, has announced the immediate resignation of two key members of its board of directors. The resignations were disclosed in a recent SEC filing.
Valerie P. Chase and Russell T. Libby, both serving on the board of HF Foods, have stepped down from their positions, effective immediately. The announcement came just days before the company's Annual Meeting of Stockholders, where neither will stand for re-election.
According to the filing, the departures of Ms. Chase and Mr. Libby are not due to any disagreements with the company regarding its operations, policies, or practices. The nature of their resignations has not prompted any public concern about the internal workings of HF Foods.
The board has already initiated a search for new independent directors to fill the vacancies left by Ms. Chase and Mr. Libby. The company has not yet named any potential candidates or provided a timeline for when the new appointments will be made.
Investors and stakeholders of HF Foods are keeping a close watch on the board's composition, especially considering the critical role it plays in guiding the company's strategic direction. The swift action to seek replacements suggests an effort to maintain stability and continuity in governance.
This development is part of normal corporate governance processes and does not reflect broader issues within the company. As HF Foods continues its operations, the focus remains on finding suitable board members to help steer the company in its future endeavors.
The information in this article is based on a statement from an SEC filing by HF Foods Group.
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