Company: BRID
Filing Date: 2025-02-27
Form Type: DEF 14A
Source: 0001493152-25-008406
Chunk: 20

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-02-27
Form: DEF 14A
Chunk 20
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 in selecting and evaluating proposed Board nominees. However, the Board has not implemented a formal policy with respect to the consideration of diversity for the composition of the Board.

Board Leadership Structure and the Role of the Board in Risk Management Oversight

Board Leadership Structure

The Board is currently comprised of a total of eight directors. Michael W. Bridgford, who is not a director, serves as the Chairman of the Board. In this capacity, he is principally charged with fulfilling the following duties:

| ● | Presiding                                                                                                                          
 as the Chairman of the meetings of the Board of Directors;                                                                         |
| ● | Serving                                                                                                                            
 as a conduit of information between the independent directors and members of management;                                           |
| ● | Approving                                                                                                                          
 Board of Directors meeting agendas and schedules;                                                                                  |
| ● | Calling                                                                                                                            
 executive session meetings of the independent directors, as needed;                                                                |
| ● | Reviewing                                                                                                                          
 information sent to the Board of Directors;                                                                                        |
| ● | Working                                                                                                                            
 with the Chief Financial Officer and Corporate Secretary to ensure the Board has adequate resources to support its decision-making 
 obligations;                                                                                                                       |
| ● | Meeting                                                                                                                            
 with shareholders as appropriate; and                                                                                              |
| ● | Such                                                                                                                               
 other responsibilities and duties as the Board of Directors shall designate.                                                       |

The Company has not appointed a Chief Executive Officer. Instead, the Company has historically utilized an Executive Committee to serve in the capacity of Chief Executive Officer. The Board believes that the Executive Committee structure is appropriate for the Company because it requires a full committee of officers, each of whom bring their own experiences and perspectives to bear on their decision making, to discuss and vote on important decisions affecting the Company. The Company has utilized an Executive Committee in lieu of appointing a Chief Executive Officer for more than twenty years. See “Executive Officers” for further discussion about the role and membership of the Executive Committee.

The Chairman of the Board serves on the Executive Committee. Thus, the roles of Chairman of the Board and Chief Executive Officer are intertwined to some extent. However, none of the members of the Executive Committee are also directors. The Board believes that this structure properly maintains the independence of the Board as a whole, and of the Chairman of the Board, from the Executive Committee.

The Board’s Role in Risk Management Oversight

The Executive Committee is responsible for the day-to-day management of risk. It does not view risk management as a separate function, but rather as part of the day-to-day process of running the Company. It is