Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

CBOT® Re-Appoints Weems As Non-Member Director

Date 27/08/2002

The Chicago Board of Trade (CBOT) yesterday announced the re-appointment of Ralph W. Weems, a past Chairman and President of the American Soybean Association (ASA) and longtime soybean farmer, as a non-member Public Director of the exchange. Weems will serve in this position on an interim basis, pending the next CBOT annual election.

CBOT Chairman Nickolas J. Neubauer said, "A non-member director vacancy occurred when Ralph's term of office expired earlier this year. Fortunately for our members, Ralph has agreed to resume his service to the CBOT on an interim basis, and our Board of Directors gratefully re-appointed him so that we can continue to benefit from his wise counsel."

In addition to serving a total of 15 years, including three consecutive four -year terms as a CBOT Public Director, Weems has served the soybean industry extensively throughout his career. He was on the ASA's Executive Committee and has represented his home state of Mississippi on the ASA Board of Directors. As a member of the ASA Executive Committee, Weems served as Chairman of the Government Relations, Research and Market Development committees. In 1984, Weems was elected First Vice President, then President and finally Chairman of the ASA in 1986. In 1988, Weems was elected to honorary life membership in ASA, the association's highest honor.

Weems has been a member of the Mississippi Soybean Association since 1972, and served as vice president and president of the state association and chaired its Promotion Board. He currently is Chairman of the County Committee of the Farm Services Agency in Clay County, Mississippi. A graduate of Mississippi State University, Weems farms 600 acres of soybeans in Northeast Mississippi.