People: Penford Corp (PENX.W)

Summary

Name	Age	Since	Current Position
Paul Hatfield	76	2003	Independent Chairman of the Board
Thomas Malkoski	56	2003	President, Chief Executive Officer, Director
Steven Cordier	56	2006	Chief Financial Officer, Senior Vice President, Assistant Secretary
Wallace Kunerth	64	2000	Vice President, Chief Science Officer
Christopher Lawlor	62	2005	Vice President - Human Resources, General Counsel, Secretary
Michael Friesema		2012	Vice President - Corporate Development
Timothy Kortemeyer	46	2006	Vice President; President - Industrial Ingredients
John Randall	68	2006	Vice President; President - Food Ingredients
William Buchholz	70	2003	Independent Director
Jeffrey Cook	57	2003	Independent Director
R. Randolph Devening		2003	Independent Director
John Hunter	65	1998	Independent Director
Sally Narodick	67	1993	Independent Director
Edward Ryan	55	2010	Independent Director
James Warjone	69	2001	Independent Director
Matthew Zell	47	2010	Independent Director

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Biographies

Name	Description
Paul Hatfield	Mr. Paul H. Hatfield is Independent Chairman of the Board of Penford Corporation. He has served as a director of the Company since October 1994 and as Chairman of the Board since January 2003. Mr. Hatfield has been Principal of the Hatfield Capital Group, a private investment company, since 1997. He served as Chairman, President and Chief Executive Officer of Petrolite Corporation until July 1997. Previously, he worked for Ralston Purina Company from 1959 until his retirement in 1995. He served as a Vice President of Ralston as well as the President and Chief Executive Officer of Protein Technologies International, Inc., then a wholly-owned subsidiary of Ralston. He is a director of Maritz Inc. Mr. Hatfield also previously served as a director of Solutia Inc. and Bunge Ltd.
Thomas Malkoski	Mr. Thomas D. Malkoski is President, Chief Executive Officer, Director of Penford Corp. He joined Penford Corporation as Chief Executive Officer and was appointed to the Board of Directors in January 2002. He was named President of Penford Corporation in January 2003. From 1997 to 2001, he served as President and Chief Executive Officer of Griffith Laboratories, North America, a formulator, manufacturer and marketer of ingredient systems to the food industry. Previously, he served in various senior management positions, including as Vice President/Managing Director of the Asia Pacific and South Pacific regions for Chiquita Brands International, an international marketer and distributor of bananas and other fresh produce. Mr. Malkoski began his career at the Procter and Gamble Company, a marketer of consumer brands, progressing through product category management responsibilities. Mr. Malkoski holds a Masters of Business Administration degree from the University of Michigan.
Steven Cordier	Mr. Steven O. Cordier is Chief Financial Officer, Senior Vice President, Assistant Secretary of Penford Corporation. He joined Penford in July 2002 as Vice President and Chief Financial Officer, and was promoted to Senior Vice President in November 2004. From September 2005 to April 2006, Mr. Cordier served as the interim Managing Director - Penford’s Australian and New Zealand operations. He came to Penford from Sensient Technologies Corporation, a manufacturer of specialty products for the food, beverage, pharmaceutical and technology industries, where he held a variety of senior financial management positions.
Wallace Kunerth	Dr. Wallace H. Kunerth is Vice President, Chief Science Officer of Penford Corp. Dr. Kunerth has served as Penford’s Vice President and Chief Science Officer since 2000. From 1997 to 2000, he served in food applications research management positions in the Consumer and Nutrition Sector at Monsanto Company, a provider of hydrocolloids, high intensity sweeteners, agricultural products and integrated solutions for industrial, food and agricultural customers. Before Monsanto, he was the Vice President of Technology at Penford’s food ingredients business from 1993 to 1997.
Christopher Lawlor	Mr. Christopher L. Lawlor is Vice President - Human Resources, General Counsel and Secretary of Penford Corporation. Mr. Lawlor joined Penford in April 2005 as Vice President - Human Resources, General Counsel and Secretary. From 2002 to April 2005, Mr. Lawlor served as Vice President-Human Resources for Sensient Technologies Corporation, a manufacturer of specialty chemicals and food products. From 2000 to 2002, he was Assistant General Counsel for Sensient. Mr. Lawlor was Vice President-Administration, General Counsel and Secretary for Kelley Company, Inc., a manufacturer of material handling and safety equipment from 1997 to 2000. Prior to joining Kelley Company, Mr. Lawlor was employed as an attorney at a manufacturer of paper and packaging products and in private practice with two national law firms.
Michael Friesema	Mr. Michael J. Friesema serves as Vice President - Corporate Development of Penford Corp. He joined Penford in September 2010 as Director – Business Development and was promoted to Vice President – Corporate Development in August 2012. He came to Penford from Corn Products International, Inc. (now Ingredion Incorporated), a manufacturer of starch and sweetener ingredients, where he most recently served as General Manager, Africa and Senior Director, Engineering, Asia-Africa Division. Prior to that, he was Chief Operating Officer and President – Food Ingredients for zuChem, Inc.
Timothy Kortemeyer	Mr. Timothy M. Kortemeyer is Vice President; President - Industrial Ingredients of Penford Corp. Mr. Kortemeyer has served as Vice President of Penford Corporation since October 2005 and President, Industrial Ingredients since June 2006. He served as General Manager of Penford Products from August 2005 to June 2006. Mr. Kortemeyer joined Penford in 1999 and served as a Team Leader in the manufacturing operations of Penford Products until 2001. From 2001 until 2003, he was an Operations Manager and Quality Assurance Manager. From July 2003 to November 2004, Mr. Kortemeyer served as the business unit manager of the Company’s co-products business, and from November 2004 until August 2005, as the director of the Company’s specialty starches product lines, responsible for sales, marketing and business development.
John Randall	Mr. John R. Randall is Vice President; President - Food Ingredients of Penford Corp. He joined Penford in February 2003 as Vice President and General Manager - Penford Food Ingredients and was promoted to President - Food Ingredients division in June 2006. Prior to joining Penford, Mr. Randall was Vice President, Research & Development/Quality Assurance of Griffith Laboratories, USA, a specialty foods ingredients business, from 1998 to 2003. From 1993 to 1998, Mr. Randall served in various research and development positions with KFC Corporation, a quick-service restaurant business, most recently as Vice President, New Product Development. Prior to 1993, Mr. Randall served in research and development leadership positions at Romanoff International, Inc., a manufacturer and marketer of gourmet specialty food products, and at Kraft/General Foods.
William Buchholz	Mr. William E. Buchholz is Independent Director of Penford Corporation since January 2003. He has been a business consultant and private investor since 2002. From 2001 to 2002, Mr. Buchholz served as Senior Vice President of Finance and Administration, Chief Financial Officer, and Secretary at MessageMedia, a Colorado-based email messaging service and software company. Mr. Buchholz was Senior Vice President and Chief Financial Officer of Nalco Chemical Company, a specialty chemicals company, with responsibilities for all finance functions including audit, tax, financial systems, U.S. and international treasury, and investor relations from 1992 to 1999. Prior to that, he served as Vice President and Chief Financial Officer of Cincinnati Milacron, an industrial equipment supplier. Mr. Buchholz is a certified public accountant and holds an M.B.A., Finance and a B.A., Accounting, both from Michigan State University.
Jeffrey Cook	Mr. Jeffrey T. Cook is Independent Director of Penford Corp. He is the President and Chief Operating Officer of Stellar Holdings, Inc., a Seattle based private real estate investment and development firm. Mr. Cook has been a member of the Board of Directors since 1998. He previously served Penford as President from January 2002 to January 2003, President and Chief Executive Officer from September 1998 to January 2002, Vice President, Finance and Chief Financial Officer from 1991 to August 1998, and was the Corporate Treasurer prior to that time. He joined the Company in 1983. He is a graduate of Stanford University with a B.A. in Economics. Mr. Cook also serves as a board member for Port Blakely Companies, a privately held natural resources and real estate development company headquartered in Seattle, Washington, and Powerit Holdings, Inc., a intelligent energy demand management also headquartered in Seattle.
R. Randolph Devening	Mr. R. Randolph Devening is Independent Director of Penford Corporation since August 2003. Until his retirement in 2001, Mr. Devening served for seven years as Chairman, President and Chief Executive Officer and as President and Chief Executive Officer of Foodbrands America, Inc., a company that produces, markets and distributes branded and processed food products for the food service and retail markets. Prior to that, he served as Vice Chairman, Chief Financial Officer and director from 1993 to 1994, and Executive Vice President, Chief Financial Officer and director from 1989 to 1993 for Fleming Companies, Inc., a wholesale food distributor. Mr. Devening holds an undergraduate degree in International Relations from Stanford University and an MBA in Finance and Marketing from Harvard University Graduate School of Business. Mr. Devening also serves as a director of Safety-Kleen, Inc. and Banctec, Inc., and as an advisor to Hall Brothers Capital Partners. Mr. Devening previously served as a director of 7-Eleven, Inc. and Gold Kist Inc.
John Hunter	Mr. John C. Hunter, III, is Independent Director of Penford Corp., since October 1998. From 1999 until his retirement in 2004, Mr. Hunter was the Chairman, President and Chief Executive Officer of Solutia, Inc., an international producer of high-performance, chemical-based materials used to make consumer, household, automotive and industrial products. On December 17, 2003, Solutia, Inc. and its domestic subsidiaries filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York in order to reorganize its business and to obtain relief from certain legacy liabilities which accrued under prior ownership and management. Mr. Hunter also served as President and Chief Operating Officer of Solutia, Inc. from 1997 to 1999. From 1992 to 1997, Mr. Hunter was President, Fibers for Monsanto Company. He graduated from the Georgia Institute of Technology with a B.S. in Chemical Engineering and holds an M.B.A. from the University of Houston. Mr. Hunter also serves as a board member of Energizer Holdings, Inc.
Sally Narodick	Ms. Sally G. Narodick is Independent Director of Penford Corporation since August 1993. Ms. Narodick was an educational technology and e-learning consultant until she retired in March 2004. From 1998 to 2000, she served as Chief Executive Officer of Apex Online Learning, an Internet educational software company. Previously, Ms. Narodick served as an education technology consultant, both independently and for the Consumer Division of IBM from 1996 to 1998. From 1989 to 1996, Ms. Narodick served as Chair and Chief Executive Officer of Edmark Corporation, an educational software company that was sold to IBM in 1996. A graduate of Boston University, Ms. Narodick earned an M.A. in Teaching from Columbia Teachers College and an M.B.A. from New York University. She serves as a board member of Cray, Inc. Ms. Narodick also previously served as a director of Sum Total Systems, Inc., Puget Energy, Inc. and Solutia Inc.
Edward Ryan	Mr. Edward F. Ryan is Independent Director of Penford Corporation. He joined the Board of Directors on March 4, 2010. Since 1998, Mr. Ryan has served as President of Entrepreneurial Financial Resources, Inc. (“EFR”), a private equity firm that manages a portfolio of companies, and he currently serves as Chairman of several companies owned by EFR. Mr. Ryan is also Chairman of Summit Marketing, LLC, a national direct marketing, government services, promotional products, and recognition and incentive company. Mr. Ryan previously held a variety of positions at Code 3/Public Safety Equipment Inc., a supplier of lighting and sound based warning products, which he purchased in 1986 and continued to manage until its sale in 1998. Mr. Ryan also served as a director of K2 Inc. until it was acquired in 2007.
James Warjone	Mr. James E. Warjone is Independent Director of Penford Corporation, since January 2001. Mr. Warjone is Chairman and Chief Executive Officer of Port Blakely Companies, a private company that owns and operates commercial forests in Washington, Oregon and New Zealand, operates an international log and lumber trading company, and also develops real estate in Washington State. Mr. Warjone has been with Port Blakely Companies since 1978. He earned his B.S. in economics from Claremont Men’s College. Mr. Warjone also serves as a board member of The Joshua Green Corporation, Uwajamaya, the Association of Washington Business, the Greater Seattle Chamber of Commerce, the Washington Roundtable, the National Alliance of Forest Owners, and the Pacific Science Center.
Matthew Zell	Mr. Matthew M. Zell is Independent Director of Penford Corp., since April 9, 2010. Mr. Zell is currently a Managing Director of Equity Group Investments, L.L.C. Mr. Zell also serves on the board of Anixter International Inc., a global provider of communications, security and other products, and previously served on the boards of Homex Development Corp. and GP Strategies Corporation. Mr. Zell was the Chief Executive Officer of Prometheus Technologies, Inc. until he rejoined Equity Group Investments L.L.C. in 2001.

Basic Compensation

Name	Fiscal Year Total
Paul Hatfield	--
Thomas Malkoski	2,192,660
Steven Cordier	1,092,780
Wallace Kunerth	314,757
Christopher Lawlor	565,476
Michael Friesema	--
Timothy Kortemeyer	733,195
John Randall	694,758
William Buchholz	--
Jeffrey Cook	632,874
R. Randolph Devening	--
John Hunter	--
Sally Narodick	--
Edward Ryan	--
James Warjone	--
Matthew Zell	--

As Of 30 Aug 2012

Options Compensation

Name	Options	Value
Paul Hatfield	0	0
Thomas Malkoski	365,000	751,250
Steven Cordier	200,000	182,425
Wallace Kunerth	85,000	71,251
Christopher Lawlor	30,000	15,600
Michael Friesema	0	0
Timothy Kortemeyer	5,000	47,405
John Randall	110,000	776,191
William Buchholz	0	0
Jeffrey Cook	374,466	1,625,676
R. Randolph Devening	0	0
John Hunter	0	0
Sally Narodick	0	0
Edward Ryan	0	0
James Warjone	0	0
Matthew Zell	0	0

Insider Trading

Name	Shares Traded	Price
COOK JEFFREY T	3,500	$8.09
DEVENING R RANDOLPH	2,721	$0.00
BUCHHOLZ WILLIAM E	2,721	$0.00
HATFIELD PAUL H	2,721	$0.00
NARODICK SALLY G	2,721	$0.00
HUNTER JOHN C III	2,721	$0.00
WARJONE JAMES E	2,721	$0.00
ZELL MATTHEW M	2,721	$0.00
RYAN EDWARD F	2,721	$0.00
COOK JEFFREY T	2,721	$0.00
CORDIER STEVEN O	1,658	$7.62
LAWLOR CHRISTOPHER L	1,095	$7.62
MALKOSKI THOMAS D	3,355	$7.62
RANDALL JOHN R	1,244	$7.62
KORTEMEYER TIMOTHY MICHAEL	1,298	$7.62
KUNERTH WALLACE H	829	$7.62
COOK JEFFREY T	12,084	$0.00
RYAN EDWARD F	100	$8.50
RYAN EDWARD F	6,685	$8.70
RYAN EDWARD F	10,000	$8.74
RYAN EDWARD F	200	$8.50
RYAN EDWARD F	3,015	$8.36
COOK JEFFREY T	23,600	$0.00
WARJONE JAMES E	5,200	$5.70
HATFIELD PAUL H	5,000	$5.77

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People: Penford Corp (PENX.W)

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Summary

Biographies

Basic Compensation

Options Compensation

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