AgriBioTech, Inc. Announces Election of Outside Director to Board of Directors
HENDERSON, Nev.--(BUSINESS WIRE)--June 15, 1999--Richard Budd,
Chairman and Chief Executive Officer (CEO), AgriBioTech, Inc. ("ABT"
or the "Company") (NASDAQ National Market: ABTX) announced today that
Mr. L. Glenn Orr, Jr. has been elected to and joins the Company's
Board of Directors as an outside director. With the addition of Mr.
Orr to the ABT Board, there are now six Board members, three of which
are outside directors. During the March 1999 change in senior
management, the Company announced its intention to create a new, nine
person Board, with a majority of members being outside directors. ABT
is continuing its search for additional outside directors to add to
the Board to achieve this goal.
Mr. Orr, age 59, is currently Chairman, President & CEO of Orr
Management Company, an investment banking firm located in
Winston-Salem, NC. Earlier in his career, Mr. Orr spent 30 years in
the banking industry in the southeast U.S. He is Chairman Emeritus of
Southern National Corporation, and is also former Chairman, CEO and
President of the firm that is now part of Branch Bank & Trust Co.
(BB&T). Mr. Orr was instrumental in successfully completing the merger
of equals between Southern National Corporation and BB&T.
Mr. Orr serves on the Board of Directors of seven companies,
including three other publicly traded companies, as well as serves on
numerous non-profit boards, including service as a Trustee at Wake
Forest University and as a member of the North Carolina Economic
Development Commission.
"We are extremely pleased that Glenn Orr has agreed to and will
be joining our Board of Directors," said Richard Budd in making the
announcement, "and we look forward to his good counsel and working
with him."
AgriBioTech, Inc. is a vertically integrated, full service seed
company specializing in the forage and turfgrass seed sector, complete
with research and development of proprietary seed varieties, seed
processing plants, and a national and international distribution and
sales network. ABT's vision is to lead the turf and forage seed
industry in discovering its value potential.
CONTACT:
AgriBioTech, Inc.
Tony Blum, 702/566-2440
Fax: 702/566-2450
URL: www.agribiotech.com
KEYWORD: NEVADA
BW0473 JUN 15,1999
13:50 PACIFIC
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