BOULDER — Stephen B. Hughes has been replaced as chairman of Boulder Brands Inc.’s board of directors, but he will retain his job as chief executive of the Boulder-based natural-foods company.
Earlier this week, Boulder Brands’ board of directors appointed R. Dean Hollis as chairman of the board.
For commercial property owners with triple net leases (NNN), recouping the costs of a capital energy improvement can be a barrier to making sustainable investments. See two ways to overcome the split incentive with solar as well as four financial incentives that benefit commercial property owners directly.
In a prepared statement, the company (Nasdaq: BDBD) said the board decided to separate the roles of chairman and CEO as part of the board’s ongoing evaluation of the company’s governance policies and practices and after considering the views expressed by various stockholders of the company.
Hollis has been a member of the board since July 2011 and served as the board’s lead independent director from October 2013 until his appointment as chairman.
Boulder Brands owns a variety of natural and organic food brands, including Evol, Glutino, Udi’s Gluten Free, Earth Balance, Smart Balance and Level Life.
For 2014, the company reported a $127 million loss that equated to $2.09 per share after making $10 million in 2013. Revenue, however, was up, climbing from $461.3 million in 2013 to $516.6 million in 2014.
Boulder Brands stock was trading at $9.49 per share midday Friday. The company’s 52-week range has been $7.77 to $18.46 per share.