(KAIR)--The CEO of Atchison based MGP ingredients has been terminated without cause. That comes as the nearly year long battle between the company and shareholders took what many think is the final step towards pushing the company to resume business as usual.
According to a press release from MGP, the company announced Tuesday that it has entered into a settlement agreement with the Cray Group on all issues related to the 2013 Annual Meeting and all related lawsuits.
Board member Karen Seaberg says the long delayed stockholder meeting will take place soon, and other changes have been made in the company's leadership, along with the board's decision to terminate Newkirk.. The meeting will take place on December 17th, and Don Tracy and Randy Schrick have been appointed to serve as Co-CEOs of the company. They will assume their new positions at the shareholders meeting.
Schrick and Tracy will serve until a new CEO is hired.
The agreement comes after a Kansas Court of Appeals overturned a previous decision to delay the meeting, which was originally set to be held in September.
As part of the agreement, all litigation will be dismissed.
The controversy arose when the Cray Group, comprised of family members of the company's founders, took issue with the direction the company was headed under Newkirk's leadership.
© Many Signals Communications
MOST VIEWED STORIES
Cold case investigation leads to Holton warrant
Horton City Clerk's resignation accepted Monday
Effingham owner regains truck following theft, arrest
Former Kickapoo Tribal chairman arrested
Winchester native named as Amberwell CEO
Holton property search concludes with arrest
Mayetta pair arrested on meth, child endangerment charges
Juveniles face charges following Atchison break-in
Rural Horton man charged in alleged beating
Atchison Co's Oswald named honorary bailiff for KS Court
McLouth man injured in Monday wreck
No injuries in early Sunday morning house fire in Falls City
KS prepares for severe weekend weather
Senator Slama on tax relief efforts
Commission approves agreement for budget help
Former AG Schmidt running for KS' 2nd Congressional District
Pawnee City School Board approves personnel changes
Council hears report from golf course
Richardson County accepted into managed call handling program
LATEST STORIES
Severe storms move through NE KS
NVCH receives $415,000 grant for expansion project
KS prepares for severe weekend weather
Richardson County Board approves pay raise for dispatchers
NPPD urges farmers to be safe around power lines
Arbor Day proclaimed in Atchison
Former AG Schmidt running for KS' 2nd Congressional District
Doniphan Co Commission approves overlay projects