BALTIMORE, Jan. 21, 2015 /PRNewswire/ -- The Board of
Directors of The Adams Express Company elected Mark E. Stoeckle, Chief Executive Officer, to
the additional position of President, succeeding James P. Haynie, who was elected President of
Petroleum & Resources Corporation, Adams Express's
non-controlled affiliate. Mr. Haynie will continue to serve
Adams Express as an Executive Vice President and member of the
Fund's portfolio management team. In addition, D. Cotton Swindell has been elected an Executive
Vice President of the Fund. He will join Mr. Stoeckle and Mr.
Haynie on the portfolio management team. Nancy J. F. Prue, Executive Vice President, will
be leaving the portfolio management team to assume the new role of
Executive Vice President, Director of Shareholder
Communications.
Mr. Swindell was Vice President-Research prior to becoming
Executive Vice President and will continue to follow the
industrials sector in his new position. He joined Adams
Express in 2002 as a research analyst covering the industrials
sector. He was promoted to Vice President-Research in 2004,
covering the financials and industrials sectors. Prior to
joining Adams Express, he was a securities analyst with Wachovia
Securities and with Alex. Brown & Sons. "Cotton has proven his
ability as a talented analyst and exhibited the insight that
Jim Haynie and I believe will make
him a valuable member of the portfolio management team," said Mr.
Stoeckle.
Ms. Prue will become Executive Vice President, Director of
Shareholder Communications for both Adams Express and Petroleum
& Resources. In this newly-formed role, she will report
directly to Mr. Stoeckle. "Nancy provided invaluable service
to the Fund as a member of the portfolio management team. I am very
pleased that she has agreed to take over this very important, new
position with the Funds. She will be responsible for the
content and delivery of information about the Funds to our
shareholders and the investment community, which we believe is
essential. Her extensive familiarity with the securities
markets and the Funds will provide an added dimension to our
shareholder communications," said Mr. Stoeckle.
The Adams Express Company is a Baltimore-based closed-end fund that has been
operating as an investment company since 1929. Its stock trades on
the New York Stock Exchange under the symbol ADX.
For further information please contact:
Lawrence L. Hooper,
Jr., Vice President, General Counsel and Secretary
410-752-5900 or 800-638-2479
E-mail: contact@adamsexpress.com
Website: www.adamsexpress.com
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SOURCE Adams Express Company