Brown-Forman: Executive Marshall Farrer to resign, become board chairman after annual meeting
Brown-Forman said Executive Vice President and Chief Strategic Growth Officer Marshall B. Farrer will resign effective after the 2025 Annual Meeting of Stockholders so he can become Chairman of the Board, subject to his reelection to the Board. The Compensation Committee approved a one-time $865,000 lump sum payment and retirement-style treatment of his 2013 plan stock-settled appreciation rights, which matters to shareholders because it is a defined cost tied to a leadership transition.
Key points
- Farrer informed the company of his resignation intention on April 25, 2025, effective after the 2025 Annual Meeting.
- Compensation Committee approved on April 28, 2025 a one-time $865,000 lump sum payment for lost early retirement and pension benefits.
- His 2013 plan SSARs are treated as if he retired; his 2022 plan SSARs and performance-based RSUs continue unmodified.
The filing
Written by AI on Nov 8, 2026, 1:12 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 28, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.