Shawn Lowry resigned as director, president and CEO of Brooke Franchise Corp., effective May 25.
Brooke Corp. said in a release that Lowry is leaving to “pursue other investment and professional opportunities.”
Lowry also resigned as director, vice president and treasurer of Brooke Corp., effective Friday. Brooke Corp.’s board elected Kyle Garst, senior vice president of Brooke Franchise, to succeed Lowry on the board and Anita Lowry to succeed him as vice president and treasurer of Brooke Corp.
Chad Maxwell will succeed Shawn Lowry as a director of Brooke Franchise. Maxwell joins Dane Devlin, Kyle Garst, Bryan Whipple and Leland Orr.
Robert Orr, chairman and CEO of Brooke Corp., will serve as interim CEO of Brooke Franchise until its board elects a new CEO.
Shawn Lowry also withdrew from the controlling shareholder group of Brooke Corp., effective Friday. Members in Brooke Holdings Inc., consisting of Robert Orr, Leland Orr, Michael Lowry, Anita Larson and Garst, have orally agreed to continue voting their shares of Brooke Corp. common stock together. As a group, they beneficially own about 51 percent of the outstanding shares of Brooke Corp. common stock as of Thursday’s close.