Rocky Mountain Chocolate Factory Inc. Essay Sample

A. Board of Directors

1. a. Chairman: Franklin Crail ( CEO and President )

B. Directors: Bryan Merryman ( VP. CFO. COO. and Treasurer ) . Lee Mortenson. Gerald Kien. Clyde Engle. and Scott Capdevielle.

With the exclusion of Franklin Crail ( co-founder of Rocky Mountain Chocolate Factory Inc. ) and Bryan Merryman. the Board of Directors of Rocky Mountain Chocolate Factory Inc. is composed of wholly external/independent board members.

2. Directors do non have any compensation for functioning on the board. but they do receive compensation for functioning on board commissions. chairing commissions. and take parting in meetings. Directors who are non officers/employees of the company are entitled to stock option awards.

3. Rocky Mountain Chocolate Factory Inc. is publicly traded as RMCF. O on Consolidated Issue listed on NASDAQ Global Market. It closed on April 21. 2011 at $ 10. 40 ( USD ) a portion. The Board of Directors has often paid out quarterly hard currency dividends. normally $ 0. 10 to common portion outstanding. This dividend. on norm. has been three times that of the industry’s norm.

Harmonizing to the company’s most recent 10-K. there are presently 100. 000. 000 portions authorized ; 6. 026. 938 and 5. 989. 858 portions of common stock issued and outstanding severally. Each common stock is eligible to vote at the one-year meeting. Each portion of common stock entitles its holder to one ballot on all affairs voted on at the one-year meeting ( except the election of managers ) . Stockholders have cumulative vote rights in the election of managers.

There are besides 250. 000 authorised Preferred stock ( with zero issued or outstanding ) . 50. 000 portions of Series A Participating Preferred Stock. and 200. 000 portions of Undesignated series stock.

4. The board members contribute huge experiences in leading places. with assorted companies. None of their experiences outside of Rocky Mountain Chocolate Factory seem to be in the nutrient industry. though.

Franklin Crail co-founded the first Rocky Mountain Chocolate Factory shop in May 1981. He has served as its President. Director. Chairman of the Board. and CEO. Prior to co-founding the company. he was co-founder and President of CNI Data Processing Inc. ( a package house which developed automated charging systems for the overseas telegram telecasting industry ) .

Bryan Merryman is experienced in purchase buyout houses ; retail and fabrication of aftermarket car parts ; and audit. consulting. fiscal advisory. hazard direction. and revenue enhancement. He has been with the company since 1997.

Lee Mortenson has been with the company since 1987 and has been prosecuting in confer withing and investing activities since 2000. He was pull offing manager of a private investing house ; has been President and CEO of a company that provided direction consulting and investing services ; has been involved in existent estate development and fabrication ; and has been engaged in fabricating dress and medical merchandises.

Gerald Kien joined the company in 1995 after retiring from his place as President and CEO of a company engaged in the development of instrumentality for vehicle emanations proving. He was besides on the board of Sun Electric. a company that is tied to the oilfield. air current farm. and transmittal building industries.

Clyde Engle has been with the company since 2000. and antecedently from 1987 to 1995. He has experience in professional belongings direction. belongings and casualty insurance services. every bit good as in bank retention and commercial banking services.

Scott Capdevielle joined the company in 2009. His experiences include developing user generated web picture and distribution on the World Wide Web ; web analytics package. and assorted other facets of the package industry.

5. They have been on the Board of Directors since 1982. 1999. 1987. 1995. 2000 ( antecedently from 1987 – 1995 ) . and 2009 severally.

6. The board appears to be to a great extent involved with the strategic direction of the company. commanding everything from shop locations. to how preparation is conducted. to where ingredients can be obtained from. etc. Based on this. I would label their engagement as “Catalyst” ( see Figure 2-1 in the MGMT 436 text edition for inside informations ) .

B. Top Management

1. a. CEO. President. and Director: Franklin Crail
b. VP. CFO. COO. Treasurer. and Director: Bryan Merryman
c. Senior VP – Gross saless and Selling: Edward Dudley
d. Senior VP – Franchise Development and Operationss: Gregory Pope
e. VP – Finance: Jeremy Kinney
f. VP – Creative Services: Jay Haws
g. VP – Franchise Support and Training: Donna Coupe
h. CIO: Willian Jobson
I. Corporate Secretary: Virginia Perez

2. As with the board of managers. top direction of the company comes from a assortment of backgrounds. All are really experienced in their several Fieldss. but no 1 in top direction had anterior experience in the nutrient industry prior to fall ining Rocky Mountain Chocolate Factory Inc.

Franklin Crail co-founded the first Rocky Mountain Chocolate Factory shop in May 1981. He has served as its President. Director. Chairman of the Board. and CEO. Prior to establishing the company. he was co-founder and President of CNI Data Processing Inc. ( a package house which developed automated charging systems for the overseas telegram telecasting industry ) .

Bryan Merryman is experienced in purchase buyout houses ; retail and fabrication of aftermarket car parts ; and audit. consulting. fiscal advisory. hazard direction. and revenue enhancement. He has been with the company since 1997.

Edward Dudley joined the company in 1997 with the end of increasing the company’s mill and retail gross revenues. He antecedently spent ten old ages with a healthcare corporation. functioning in a figure of senior selling and gross revenues direction capacities.

Gregory Pope joined the company in 1990 as a shop director. During his 21 old ages with the company. he has worked his manner up from being a shop director. to a new shop opener. to a franchise field adviser. to Director of Franchise Development and Support. to VP of Franchise Development. to his current place of Senior VP – Franchise Development and Operations.

Jeremy Kinney joined the company in 1999 and has served in assorted fiscal and operational places since. He is besides the youngest executive officer at 33 old ages old.

Jay Haws has been closely associated with the company ( both as a franchisee and a marketing/graphic design adviser ) since 1981. Prior to fall ining the company. he was principal of an advertisement and in writing design bureau.

Donna Coupe managed franchised shops in Northern California for absentee proprietors from 1992-1997. Since fall ining the company in 1997. she has served in assorted places such as Field Consultant. Regional Manager. and Director of Franchise Support.

Willian Jobson joined the company in 1988 as Director of Information Technology and has tried to heighten the company’s strategic focal point on information and information engineering of all time since. In Durango. CO. he besides worked for a company that provided diagnostic imagination and information systems solutions in the health care industry.

Virginia Perez joined the company in 1996 and has served as the corporate secretary since 1997. Prior to working at Rocky Mountain Chocolate Factory Inc. . she worked for a belongings direction and development house in Palo. CA. Ms. Perez is a legal assistant and has held assorted administrative places during her calling.

3. About half of the top directors have been promoted internally ; get downing off as a shop director. or franchise proprietor. and working their manner up through the company. Some directors have been with the company since it was foremost incorporated in the early 1980s.

4. Yes. top direction has established a systematic attack to strategic direction. with intense focal point placed on the Environmental Scanning part of the Strategic Management Model ( Fig. 1-2 of the MGMT 436 text edition ) . puting shop locations in what it considers to be “tourist areas” or countries with high degrees of pes traffic.

5. Top direction is to a great extent involved in the strategic direction procedure of the company. They control a bulk of what their franchise subdivisions do. Everything from shop locations. to carry oning preparation. to supplying ingredients. is decided upon ( or located ) in their original Durango. CO location.

6. Unknown. but they seem to be to a great extent involved with each other ( as is labeled “Catalyst” in Figure 2-1 of the MGMT 436 text edition ) .

7. Yes. determinations are made ethically in a socially responsible mode. Anything that may adversely impact the Rocky Mountain Chocolate Factory name. system. or repute is purely out ( and is evidences for annulment of any franchise understanding ) .

8. As with # 7… although chocolate beans ( the primary natural stuff used to do cocoa ) are grown commercially in Africa. Brazil. and several other states around the Earth. Rocky Mountain Chocolate Factory can non straight command if these states are carry oning themselves in an environmentally sustainable mode.

9. While non specifically discussed in the instance survey. or in the company’s 10-K. there is a note in their 2010’s 10-K ( Note 8 – Stock Compensation Plans – Continued ) that spells out stock options for managers and top direction. In 2010. there were 371. 437 preferable stock outstanding.

10. Yes. They all come from really experient backgrounds. every bit far as high-level direction is concerned. To cite Bryan Merryman. COO and CFO of the company. “… we believe we are in first-class fiscal place and good able to defy the recessive forces presently knock abouting the U. S. economic system. ”

Beginnings:

Hunger. J. D. & A ; Wheelen. T. L. ( 2010 ) . Strategic direction and concern policy ( 12th ed. ) . Upper Saddle River. New jersey: Pearson Education Inc.
Rocky Mountain Chocolate Factory Inc. ( 2011 ) . Retrieved April 23. 2011 from hypertext transfer protocol: //www. reuters. com/finance/stocks/companyOfficers? symbol=RMCF. O Rocky Mountain Chocolate Factory Inc. – Form 10-K ( 2010 ) . Retrieved April 23. 2011 from hypertext transfer protocol: //www. FAQ. org/sec-filings/100518/ROCKY-MOUNTAIN-CHOCOLATE-FACTORY-INC_10-K/