Crimson Wine Group Announces Shakeup At The Top

In a tersely worded 8-K statement filed today with the Securities and Exchange Commission, Crimson Wine said that President and CEO Erle Martin “is no longer an employee.”

No reason was stated, nor was there an indication of whether his departure was voluntary or not.

According to the entire short statement, signed by Chief Financial & Operating Officer Patrick M. DeLong:

“Effective November 3, 2014 Erle Martin is no longer an employee of Crimson Wine Group, Ltd. (the “Company”) and as a result is no longer President and Chief Executive Officer of the Company.

“The Board of Directors is immediately commencing a search to fill the President and Chief Executive Officer positions.

“Effective November 3, 2014, the Board of Directors of the Company appointed Patrick M. DeLong, age 49, to act as interim President and Chief Executive Officer until such time as a new President and Chief Executive Officer is appointed by the Company’s Board of Directors.

“Mr. DeLong will continue to serve in and fill the positions of Chief Financial Officer and Chief Operating Officer, which he has held since July 2007, while also holding the position of interim President and Chief Executive Officer.”