Jan Singer Elected to Brown-Forman Board of Directors

LOUISVILLE, Ky.–(BUSINESS WIRE)–Brown-Forman Corporation (NYSE: BFA, BFB) announced that Jan Singer has been elected to the company’s board of directors, effective immediately. Singer’s election brings the number of directors on Brown-Forman’s board to 12.

Singer was most recently CEO of J.Crew, a well-known apparel company, where she led transformation work that included financial restructuring, value creation planning, e-commerce acceleration and brand positioning. for the iconic multi-brand specialty retailer. In 2018, she was named a National Outstanding Mother honoree, an award honoring her contributions and influence as a mother, businesswoman, philanthropist and mentor.

In 2016, Singer was Managing Director of Victoria’s Secret Lingerie, where she was responsible for the $4 billion+ lingerie business and rebuilding key key categories, capitalizing on her ability to anticipate consumer trends and stimulate growth. Previously, she was CEO of Spanx, Inc., a lingerie/lifestyle brand. Additionally, Singer spent a decade at Nike, including roles leading the global apparel and footwear industry. Singer was also a board member of Kate Spade & Company from 2015 to 2017.

“Jan is a seasoned consumer and retail executive with a reputation for building brands for long-term growth while meeting current consumer needs. administration of Brown-Forman,” said Campbell P. Brown, Chairman of the Board of Brown-Forman.

For more than 150 years, Brown-Forman Corporation has enriched the experience of life by responsibly creating premium beverage alcohol brands, including Jack Daniel’s Tennessee Whiskey, Jack Daniel’s Tennessee RTDs, Jack Daniel’s Tennessee Honey, Jack Daniel’s Tennessee Apple, Jack Daniel’s Tennessee Fire, Gentleman Jack, Jack Daniel’s Single Barrel, Finlandia, Korbel, el Jimador, Woodford Reserve, Old Forester, Coopers’ Craft, Herradura, New Mix, Sonoma-Cutrer, Chambord, Benriach, GlenDronach, Glenglassaugh, Slane and Fords Gin. Brown-Forman brands are supported by approximately 4,700 employees and sold in more than 170 countries around the world. For more information about the company, please visit http://www.brown-forman.com/.

Important information about forward-looking statements: DISCLOSURE TO BE CONFIRMED

This press release contains statements, estimates and projections that are “forward-looking statements” as defined by US federal securities laws. Words such as “aim”, “anticipate”, “aspire”, “believe”, “could”, “continue”, “could”, “consider”, “estimate”, “expect”, “would expect”, “intend”, “may”, “could”, “plan”, “potential”, “project”, “pursue”, “see”, “seek”, “should”, “will ‘, ‘would’ and similar words indicate forward-looking statements, which speak only as of the date we make them. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. By their nature, forward-looking statements involve risks, uncertainties and other factors (many of which are beyond our control) that could cause our actual results to differ materially from our historical experience or our current expectations or projections. These risks and uncertainties include, but are not limited to:

  • Impact of health epidemics and pandemics, including the COVID-19 pandemic, and the resulting negative economic impact and related government actions

  • The risks associated with being a U.S.-based company with global operations, including business, political, and financial risks; local policies and working conditions; protectionist trade policies or economic or trade sanctions, including additional retaliatory tariffs on U.S. spirits and the effectiveness of our actions to mitigate the adverse impact on our margins, sales and distributors; compliance with local business practices and other regulations; terrorism; and health pandemics

  • Failure to comply with anti-corruption laws, trade sanctions and restrictions, or similar laws or regulations

  • Fluctuations in foreign currency exchange rates, especially a stronger US dollar

  • Changes in laws, regulations or government policies – particularly those affecting the production, importation, marketing, labelling, pricing, distribution, sale or consumption of our alcoholic beverages

  • Changes in tax rates (including excise duty, sales, VAT, tariffs, duties, corporate income, personal income, dividends or capital gains) or changes in reserves associated, changes in tax rules or accounting standards, and the unpredictability and suddenness with which they may occur

  • Adverse global or regional economic conditions, particularly related to the COVID-19 pandemic, and related economic downturns or recessions, low consumer confidence, high unemployment, weak credit or capital markets, fiscal deficits, heavy government debt, measures austerity, higher interest rates, higher taxes, political instability, higher inflation, deflation, lower returns on pension assets or lower discount rates for pension obligations

  • Dependence on the continued growth of the Jack Daniel’s family of brands

  • Changes in consumer preferences, consumption or buying habits – particularly away from large producers in favor of small distilleries or local producers, or away from brown spirits, our premium products or spirits in general, and our ability to anticipate or react to them; legalizing the use of marijuana on a more widespread basis; changes in consumer buying practices from traditional retailers to e-commerce retailers; bar, restaurant, travel or other on-site declines; changes in demographic or health and wellness trends; or adverse consumer reaction to new products, line extensions, packaging changes, product reformulations or other product innovations

  • Declining social acceptability of alcoholic beverages in major markets

  • Production facility, aging warehouse or supply chain disruption

  • Inaccuracy in forecasting supply and demand

  • Higher costs, lower quality, or unavailability of energy, water, raw materials, product ingredients, labor, or finished goods

  • Important additional labeling or warning requirements or limitations on the availability of our alcoholic beverages

  • Consolidation of competitors and retailers or other competitive activities, such as pricing actions (including price reductions, promotions, discounts, coupons or free products), marketing, category expansion, launches of products or entry or expansion into our geographic markets or distribution networks

  • Changes to the route to the consumer that affect the timing of our sales, temporarily disrupt the marketing or sale of our products, or result in increased fixed costs

  • Stock fluctuations of our products by distributors, wholesalers or retailers

  • Risks associated with acquisitions, divestitures, business partnerships or investments – such as the integration of acquisitions, difficulties or termination costs, or impairment of recorded value

  • Infringement and insufficient protection of our intellectual property rights

  • Product recalls or other product liability claims, product tampering, contamination or quality issues

  • Major disputes and legal proceedings, or government investigations

  • Cyber-breach or failure or corruption of key computer systems, or failure to comply with personal data protection laws

  • Negative publicity related to our business, products, brands, marketing, officers, employees, board of directors, family shareholders, operations, business performance or prospects

  • Inability to attract or retain talented leaders or employees

  • Our family-owned “controlled company” status under NYSE rules and our dual-class share structure

For more information about these and other risks, please see our public filings, including the “Risk Factors” section of our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with of the Securities and Exchange Commission.

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