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Ennis Inc . (NYSE:EBF), a leader in the production of business forms and other printed materials with a market capitalization of $553 million, has disclosed the retirements of two high-level executives and a board member, as reported in a recent SEC filing. The company, which maintains a healthy P/E ratio of 13.4 and boasts an impressive 53-year streak of consecutive dividend payments according to InvestingPro, currently trades slightly below its Fair Value. Ronald M. Graham, the Vice President – Administration, retired on February 28, 2025, after 27 years with the company. Similarly, Chief Revenue Officer Terry Pennington concluded his 19-year tenure with the company on the same date. According to the filing, these retirements were not due to any disagreements with the company’s operations or practices.
In a strategic move, Ennis Inc. has decided not to fill the vacated positions of Vice President – Administration and Chief Revenue Officer. The responsibilities formerly held by Graham and Pennington have been redistributed among the existing officers, indicating a potential restructuring of the company’s management team. This decision comes as the company maintains robust financial health, with InvestingPro data showing a strong current ratio of 4.7 and minimal leverage with a debt-to-equity ratio of just 0.04.
Additionally, the company announced the upcoming retirement of John R. Blind, a member of Ennis’s Board of Directors and the lead independent director. Blind is set to retire after the completion of his current term, coinciding with the election of a new director at the 2025 Annual Meeting of Shareholders in July. Blind, who previously worked for Glatfelter (NYSE:MAGN) for 32 years, has served on Ennis’s Board for nearly nine years, contributing as Chairperson of the Nominating and Corporate Governance Committee and as a member of the Compensation Committee.
The announcement, based on a press release statement, underscores the end of an era for Ennis Inc. as it acknowledges the significant contributions of these long-standing members of its leadership team. As the company moves forward without replacing Graham and Pennington, and with Blind’s term concluding, it marks a moment of transition and potential organizational change for Ennis Inc. With an overall financial health score rated as "GREAT" by InvestingPro, which offers 6 additional key insights about the company’s performance and prospects, Ennis appears well-positioned to navigate this leadership transition.
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