MFA Oil Delegates Convene for Company’s 85th Annual Meeting
October 9, 2014
Columbia, Missouri – MFA Oil recently held the company’s 85th annual meeting in Osage Beach, MO. Nearly 550 delegates, guests and employees were in attendance as the company reviewed operations, approved distribution of patronage and conducted Board of Director elections.
Newly appointed MFA Oil President and CEO Mark Fenner reviewed the company operations and discussed the company’s continued focus on growth and efficiencies. Fenner took over the helm from Jerry Taylor, who retired on August 31. Benny Farrell, MFA Oil’s chairman of the board, announced the company will return cash payments of over $19 million to its nearly 40,000 members this year.
“The return is the second highest in MFA Oil history,” comments Fenner. “And we continue to look for opportunities to grow our operations. In the last fiscal year, we have acquired eight companies, expanding in our current market area and into new states.”
Guest speaker Richard Fordyce, Director of Missouri Department of Agriculture, discussed the department’s role in helping agriculturalists find opportunities to achieve success.
Two sitting directors were re-elected following delegate caucuses: Marion Kertz, Southeast Missouri; and Floyd Buckman, East Central Missouri. A new director, Wayne Wright, was elected to represent Northeast Missouri and Southeast Iowa.