Adams Express Announces Executive Promotions

BALTIMORE, March 24 /PRNewswire-FirstCall/ -- Douglas Ober, Chairman and Chief Executive Officer of The Adams Express Company (NYSE: ADX), announced that, on March 23, 2010, the Board of Directors of the Company elected the following executives to new positions. Mr. David D. Weaver was elected President, Ms. Nancy J. F. Prue was elected Executive Vice President, and Mr. Richard A. Church was elected Vice President-Research.

Weaver Elected President

Mr. Weaver has been Executive Vice President of Adams Express since March 31, 2008. In that capacity and as President, he serves as a member of the portfolio management team that is headed by Mr. Ober. Mr. Ober took on the additional position of President of the Company following the retirement of former President Joseph Truta last year, and Mr. Weaver's promotion continues the Company's long-standing tradition of having a separate President and CEO for the Fund.

Mr. Weaver joined Adams Express in May 2004 as a research analyst covering the industrials and consumer-discretionary sectors of the Fund. In January 2007, he was promoted to Vice President-Research. Prior to joining the Company, he was an analyst with Legg Mason Wood Walker, Inc. in Baltimore.

Mr. Weaver received his undergraduate degree from Western Maryland College (now McDaniel College) and a M.S. degree in Business/Finance from The Johns Hopkins University. He is a Chartered Financial Analyst and a member of the Baltimore Security Analysts Society.

Prue Elected Executive Vice President

In her new position as Executive Vice President of Adams Express, Ms. Prue joins the portfolio management team with Mr. Ober and Mr. Weaver. Ms. Prue is also Executive Vice President of Adams Express's non-controlled affiliate, Petroleum & Resources Corporation, and has served in that capacity since 2009. Prior thereto, she was Vice President of Petroleum & Resources from 2005 to 2009, and Vice President-Research from 1986 to 2005.

Ms. Prue joined Adams Express in 1982 as a research analyst before moving over to Petroleum & Resources. Prior to joining Adams Express in 1982, Ms. Prue was a research analyst at Maryland National Bank and Fidelity & Deposit.

Ms. Prue graduated summa cum laude from Villanova University. She earned an MBA and Law Degree from the University of Baltimore. She is a Chartered Financial Analyst, a member of the Baltimore Security Analysts Society, of which she is a past president, and a member of the Maryland State Bar Association. She is also a member and past president of the National Association of Petroleum Investment Analysts.

Church Elected Vice President–Research

Mr. Church has served as a research analyst for Adams Express, focusing on the technology sector, since May 2008 and will continue focusing on the technology sector in his new position. Prior to joining the Company, Mr. Church was a senior equity analyst with Collins Stewart, LLC (formerly C.E. Unterberg, Towbin) and focused on telecommunications equipment, data networking and software companies. Prior to that, he held securities analyst positions with Wachovia Securities, BT Alex. Brown, and Merrill Lynch. Prior to his career on Wall Street, he was a Senior Associate in the Communications, Computing and Electronics practice at Booz, Allen & Hamilton and a Systems Analyst at IBM.

Mr. Church received his undergraduate degree from the University of Maryland and his MBA from the Yale School of Management.  

The Adams Express Company is a Baltimore-based closed-end investment company.  It is traded 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: [email protected]
    
    Website: www.adamsexpress.com

For your convenience, all press releases are posted to our website.  If you would like to receive future press releases by fax or e-mail, please let us know.

SOURCE Adams Express Company

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED