Delta Apparel, Inc. confirmed that company Chairman and CEO Robert W. Humphreys resigned from his role with the company. The move, effective June 29, 2024, came at the request of the independent directors of the Delta Apparel Board of Directors.
Humphrey’s resignation covers all positions and responsibilities he has held with the company, any company subsidiary, and any other entity owned or controlled by the company or in which the company has an ownership interest.
In December 2023, Delta Apparel agreed to appoint Timothy Brog as a new independent director to its Board to avoid a proxy battle with Forager Capital Management, an Alabama-based hedge fund management firm.
In mid-October, Forager Capital sent a letter to Delta Apparel, Inc., stating its intention to nominate four directors for election at Delta Apparel, Inc.’s 2024 annual shareholders meeting. The four candidates would have been Brog, David Berry, Matthew Dickman, and Susan Westphal.
In a regulatory filing in December, Delta Apparel said it entered into a Cooperation Agreement with Forager Capital in which it agreed to include Brog among the company’s slate of director nominees for election at its 2024 Annual Meeting.
Delta also appointed Tim Pruban as its chief restructuring officer. He is with Focus Management Group. Pruban will advise the Board on succession planning regarding Humphreys’ departure.
Images courtesy Delta Apparel
