Breaking News

Feud at Atchison company MGP ends; CEO ousted

Updated: 2013-12-04T16:18:52Z

— A battle for control of MGP Ingredients in Atchison apparently has ended, with an agreement to oust the CEO and drop all lawsuits.

The company announced Tuesday that CEO Tim Newkirk will leave, with two other executives serving as co-CEO until Newkirk's replacement can be found.

MGP's board of directors has been battling for most of the year with descendants of the company's founders, the Cray family. Six board members and Newkirk had proposed trying to sell at least part of the company. Two other board members, Cloud Cray Jr. and Karen Seaberg, opposed that plan.

The deal also requires both sides to drop lawsuits and limits potential sales or purchases of corporate assets.

And a long-delayed shareholders meeting will be held Dec. 17.

The Associated Press

Deal Saver Subscribe today!

Comments

The Kansas City Star is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Kansas City Star uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here