Farmer Bros. Co. announced that on February 15, 2023, the company streamlined its leadership team as part of the Company's strategic priority to reduce overhead costs and drive profitability.

This action included the termination of employment of Ruben Inofuentes, the Company's Chief Supply Chain Officer, and Maurice S.J. Moragne, the Company's Chief Sales Officer, effective as of February 17, 2023, among several other positions. The Company expects that the duties of Messrs. Inofuentes and Moragne will be assumed by various other employees of the Company.