Adams Resources & Energy, Inc. Announces Board of Director Changes
HOUSTON, Sept. 20 /PRNewswire-FirstCall/ -- Adams Resources & Energy, Inc.
(Amex: AE) announced today the resignations of R. H. (Steve) Stevens, Jr. and
Vincent H. Buckley from its Board of Directors.
The resignations result from Director Stevens and his firm, Stevens &
Company, LLP, entering into a direct business relationship with Mr. K. S.
Adams, Jr., Chairman and Chief Executive Officer of the Company. With this
new business relationship, Mr. Stevens may no longer qualify as an independent
director of the Company under American Stock Exchange guidelines. Therefore,
effective September 20, 2005, Mr. Stevens resigned as a member of the Board of
Directors of Adams Resources & Energy, Inc. He was subsequently appointed as
a non-voting advisory member of the Board.
In order to maintain the makeup of the Company's Board of Directors to
include a majority of outside independent directors, Mr. Vincent Buckley
agreed to resign as a Director as of September 20, 2005. Mr. Buckley has also
been appointed a non-voting advisory member of the Board and he continues as
Executive Vice President and General Counsel of the Company.
Adams Resources & Energy, Inc., through its subsidiaries, is engaged in
the business of marketing crude oil, natural gas and petroleum products; tank
truck transportation of liquid chemicals; and oil and gas exploration and
production.
Rick Abshire
(713-881-3609)
SOURCE Adams Resources & Energy, Inc.
