1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF), the cannabis-brand focused group, announced a raft of board changes on Friday, including two new senior executives and a new chairman.
Terry Taouss becomes the new chair, while two seasoned senior executives in the beauty and CPG (consumer packaged goods) industries respectively Lisa Capparelli and Mark Baynes have joined as directors.
Brayden Sutton and Cameron Watt have resigned as directors, the former to focus on his family, the company said in a statement.
Capparelli's expertise will be invaluable as the firm continues to focus on brand development, consumer engagement and sales growth across the United States, it said.
She has developed effective, innovative marketing and communication strategies for iconic beauty companies including Coty Inc (NYSE:COTY), L’Oréal and Revlon Inc (NYSE:REV), and is highly adept at identifying emerging beauty trends and creating award-winning digital and influencer marketing platforms, said 1933.
Baynes is a senior marketing executive with over 30 years’ blue-chip experience in the CPG industry, having worked for Nestle SA (VTX:NESN), Kraft Heinz Co (NASDAQ:KHC), Kellogg Company (NYSE:K), and Keurig.
"As we continue to focus on the growth of our branded consumer packaged goods, we are bringing new directors to help us drive the business and achieve our goals. Both Lisa and Mark are results-driven, experienced executives in their respective fields who will bring their extensive networks and resources to assist us in taking the company to the next level," said Chris Rebentisch, chief executive of 1933.
Meanwhile, Sutton will continue to support the company in an advisory role, explained Rebentisch.
"As founder and former CEO, Brayden built 1933 Industries from the ground up, implemented strong capital efficient practices that have ensured the sustainable growth of the company and helped to guide the company’s strategy as chairman of the board.
"On behalf of the board and the entire company, we thank Brayden for his enormous contributions, leadership and guidance. We also thank Cam for his valuable contributions during his tenure as a director."
A transformative year
Taouss, the newly-appointed chairman, added: "2020 will be a transformative year for the company and the new directors will undoubtedly have a positive impact on the business, bringing valuable new perspectives and expertise in the key areas of marketing, branding and corporate governance.”
Also, in Friday's statement, 1933 said that Alexia Helgason had been appointed VP of investor relations and that Jordan Stroum has been named director of operations for 1933 Industries.
1933 Industries is focused on the cultivation and manufacturing of cannabis consumer branded goods in a wide range of product formats.
Shares in Canada eased 2.44% to C$0.20 each.
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