Hambrecht To Leave Truett-Hurst Board

William Hambrecht — whose personal financial issues complicated the Truett-Hurst (Nasdaq-THST) IPO, will not stand for re-election to the THST Board of Directors.

An 8-K SEC filing made by Truett-Hurst stated today that:

‘On September 30, 2013, William R. Hambrecht notified the Board of Directors (the “Board”) of Truett-Hurst, Inc. (the “Company”) that he will not stand for re-election as a director of the Company. Mr. Hambrecht will continue to serve as a director until his term expires at the annual meeting of stockholders to be held on November 20, 2013.

‘Mr. Hambrecht expressed no disagreements with the Company relating to the Company’s operations, policies or practices. Mr. Hambrecht states “I look forward to continuing to collaborate with Truett-Hurst Inc. in a variety of ways, but most importantly as a long-term stockholder.”

‘ “On behalf of our management team and Board of Directors, I want to thank Bill for his valuable service and contributions to Truett-Hurst Inc. and its stockholders. We look forward to our continued collaboration.” stated Phillip L. Hurst, President and Chief Executive Officer of Truett-Hurst Inc.’

PREVIOUS WINE INDUSTRY INSIGHT COVERAGE:

• Bill Hambrecht: Billionaire’s Cash Flow Issues Have Broad Impacts
• Hambrecht Sells Floodgate Vineyard To Pay Obligations
• Truett-Hurst IPO Struggles With Wary Investors, Pricing, Delays