Edelblute, Vice President - Grain, Cereal Food Processors, Inc., was serving as first vice chairman prior to Deeds' resignation. Edelblute will assume the position of chairman for the balance of Deeds' term. The first vice chairman traditionally has assumed the chairmanship of the KCBT the following year. Assuming membership ratification following the annual election, Edelblute will then serve his elected term commencing in January 2002.
Edelblute has been employed by Cereal Food Processors for the past six years. Previously, he was employed for 21 years primarily merchandising domestic wheat for large regional grain cooperatives. He has been a member of the KCBT since 1975 and has served on the Board of Directors and various committees.
Deeds announced his resignation in a letter to the exchange's Board of Directors. He explained that, "I have decided to retire from the grain business and bring to a close my daily participation in the wheat pit." " I am looking forward to embarking on a new chapter in my life with new challenges and opportunities," he wrote. Deeds has been an exchange member since 1970. He served as first vice chairman of the KCBT in 2000 and as second vice chairman in 1999. Deeds served on numerous exchange committees during his 30 years as an exchange member.
John P. Crowe, an individual member, will move from his office of second vice chairman to first vice chairman for the remainder of this term and hold that position for the term beginning in January 2002. Crowe has been a member of the KCBT since July 1993, and served as first vice president of the KCBT Clearing Corp. in 2000. Crowe also served as BOT Investment Co. president in 2000 and was on the exchange's board of directors in 1998 and 1999.
A new second vice chairman will be elected by the Board of Directors on Friday, Sept. 7, according to exchange rules. The person selected will serve the balance of the current term and a new second vice chairman will be elected this fall for the term starting in January 2002.
