The Cotton Board recently held its 2024 Annual Meeting in Scottsdale, Arizona along with Cotton Incorporated’s Board of Directors. During this meeting, board members serving the Cotton Research and Promotion Program (the Program) reviewed, analyzed, and voted to recommend Cotton Incorporated’s 2025 budget of $89 million to the Secretary of Agriculture.
The Boards recommended an $89 million Cotton Incorporated budget for 2025, one of the highest funding levels ever. The Cotton Board’s strong level of reserves enabled the Program to continue operating at this high level, even though there are pressures on assessment revenue.
In his report to The Cotton Board during its Business Session, 2023/24 Cotton Board Chairman, Mark Nichols, a cotton producer from Oklahoma, voiced optimism and determination. “I know under the current market situation it is tough to be positive, but I am optimistic about the future of the Program. Together, The Cotton Board and Cotton Incorporated are going to evaluate the overall strategies for demand creation and for producer economic sustainability; we have significant resources both financially and professionally to get back ahead of the curve and take cotton’s market share,” said Nichols. He shared more reasons to be optimistic about cotton’s future, saying, “We have great partnerships with Cotton Incorporated, USDA, the National Cotton Council, Cotton Council International, the U.S. Fashion Industry Association, and other industry organizations and we have all realized that if we work in concert, we guarantee a successful future.”
The 2025 Cotton Incorporated plan and budget is focused on addressing several key industry issues to increase cotton’s market share and ensure long-term profitability for the industry. Key priorities outlined in Cotton Incorporated’s 2025 plan focus on four key areas – innovation, influence, producer profitability, and compliance.
Cotton Incorporated’s Chief Operating Officer, William Kimbrell, will appear on the August 20th episode of Cotton & Coffee to give a detailed overview of the 2025 plan and budget. Register at cottonboard.org/cotton coffee to join the Zoom session live, or you can view the session later on The Cotton Board’s YouTube channel.
During its Business Session, The Cotton Board also elected a new slate of officers to serve one-year terms, including Akiko Inui, an Importer from New York, to serve as Chairman of the Board. Inui is currently working at Ralph Lauren as their Interim Sustainability Lead, Product Strategy. Inui commented on her election, saying, “I am honored to serve as Chair of The Cotton Board. I believe in the work we are doing here, and while I know that there are significant challenges ahead of us, it is clear to me this Program is well prepared to lead the industry through them. I look forward to assisting the Program in its continued pursuit of profitability and demand for cotton.”
The full slate of Cotton Board officers is as follows:
Akiko Inui, Importer from New York City, New York, Chair
Matt Famer, Producer from Lamesa, Texas, Treasurer, Vice Chair
Rusty Darby, Producer from Chester, South Carolina, Secretary
Laurie Rando, Importer from Scotch Plains, New Jersey, Treasurer
Mark Nichols, Producer from Altus, Oklahoma, Immediate Past Chair