MGPI c.e.o. leaves post early

by Jeff Gelski
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ATCHISON, KAS. — Ladd Seaberg stepped down as chief executive officer of MGP Ingredients, Inc. on March 5. Tim Newkirk, president of Atchison-based MGPI, becomes c.e.o. Mr. Seaberg said in October 2007 that he planned to retire as c.e.o. at the end of the company’s fiscal year on June 30, 2008.

Mr. Seaberg, 61, plans to continue as chairman of the board of directors, a position he has held since October 2006. He had been MGPI’s c.e.o. since 1988. Mr. Newkirk was named president in October 2006, and he continued as chief operating officer.

"As I previously announced, my plan at the time of Tim’s appointment as president was to prepare him to succeed me as chief executive officer," Mr. Seaberg said. "As I anticipated he would, Tim has demonstrated many times over that he is capable of assuming that role along with his duties as president to effectively meet his responsibilities to our employees, customers and stockholders."

Mr. Seaberg said retiring as c.e.o. will allow him to spend more time with family.

"I will celebrate my 62nd birthday in 2008 and look forward to spending more time with family and pursuing a multitude of activities that heretofore have been accessible only during vacation periods and holidays," Mr. Seaberg said.

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