Owsley Brown is retiring from the Board of Brown-Forman - WDRB 41 Louisville News

Owsley Brown is retiring from the Board of Brown-Forman

Investors have had a rocky week in the stock market.  Oil prices are set for a third weekly gain after surging to a record $135 a barrel Thursday.  Also, Gap has reported that first-quarter profits topped Wall Street forecasts.

The retailer saw profits rise by 40 percent, partly by cutting costs.  The Dow is down 145.99 points to close at 12,479 .  The Nasdaq also closed down 19.91 points at 2,444.

A Louisville business man is stepping down from the company that has been in his family since it was founded in 1870.  Owsley Brown is retiring from the Board of Brown-Forman.  His term expires at the annual meeting in July. Brown has been on the Board for 37 years.  That includes 12 years as the Board's chairman.  He retired from that position last fall.

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