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TORONTO, Feb. 12, 2019 /CNW/ - FIGR, Inc., a vertically integrated legal Canadian cannabis company, and a wholly-owned indirect subsidiary of Pyxus International, Inc. (NYSE: PYX), is pleased to announce the senior-level appointments of Michael Devon, an experienced finance and operations executive, as Chief Financial Officer, and Todd Duncan, a consumer packaged goods industry veteran, as Vice President Supply Chain. Duncan assumed the role effective January 15, 2019, and Devon's position is effective February 11, 2019.
"We are very pleased to have Todd and Michael join FIGR's leadership team," said Harvey Carroll, President of FIGR, Inc. "These strategic hires further position us for growth as we deliver on our aggressive expansion strategy. Michael's drive for building a strategic finance function to effectively balance revenue and margin, combined with Todd's proven ability to implement a supply chain that delivers excellent service to consumers, makes our company stronger and well positioned for our future."
Michael Devon, Chief Financial Officer
Devon joins FIGR from the Gesco Group of Companies, a long-standing Canadian private-equity backed company, where he served as their Chief Financial Officer for four years. His more than 30 years of experience includes strategy development, financial planning, reporting and analysis, purchase and sale transactions, as well as acquisition integration. Devon has broad experience in the consumer packaged goods industry, and has held positions at both large public and mid-sized private business, including Alfresh Beverages Canada as Chief Financial Officer, Molson Canada as Vice President Financial Operations, and Maple Leaf Foods as their Vice President Finance, Business Transformation and Risk Management. Devon holds a Bachelor of Commerce, Bachelor of Science and an MBA from York University.
"I'm excited to be joining Harvey and the team at FIGR," said Devon. "It's an exciting time for cannabis in Canada. FIGR's commitment to trust, transparency and innovation aligns with my own approach to business."
Todd Duncan, Vice President Supply Chain
Duncan joins FIGR from Constellation Brands, the second largest wine company in the world, where he most recently served as Director, Supply Chain. An end-to-end supply chain expert, Duncan brings more than 20 years of leadership experience in the consumer packaged goods industry, in both alcohol beverages and packaged foods. At Constellation Brands, he oversaw operational planning across five regions and six product segments, and led several high-value initiatives including the design and implementation of enterprise resource planning and an ideal inventory model. Prior to Constellation Brands, Duncan held several progressive positions at Anheuser-Busch InBev, including Director, North America - Logistics / Order to Cash, and roles at Kellogg Canada Inc.
"I'm delighted and proud to be on the FIGR leadership team and to join a company of dedicated people that demonstrate on a daily basis their commitment to excellence," said Duncan. "I look forward to working together to ensure FIGR creates a world class supply chain founded on continuous improvement."
About FIGR, Inc.
FIGR is a vertically integrated legal cannabis company headquartered in Toronto, Ontario, that operates under one sole purpose: to put character into everything it does. FIGR cannabis is sourced from the company's two licensed subsidiaries—Canada's Island Garden, in Charlottetown, Prince Edward Island, and Goldleaf Pharm, in Simcoe, Ontario. FIGR is a wholly-owned indirect subsidiary of Pyxus International, Inc. (NYSE: PYX). For more information, visit www.figr.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. Such statements include, but are not limited to, statements about future plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based on the current beliefs and expectations of management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results may differ materially from those currently anticipated expected or projected. The following factors, among others, could cause actual results to differ from those expressed or implied by the forward-looking statements: changes in laws and regulations or the interpretation of laws and regulations, continued compliance with applicable regulatory requirements and, uncertainties with respect to the timing and extent of facilities and workforce expansion. Additional factors that could cause results to differ materially from those expressed or implied by forward-looking statements can be found in the Annual Report on Form 10-K for the period ended March 31, 2018 of Pyxus International, Inc. and the other filings by Pyxus International, Inc. with the United States Securities and Exchange Commission (the "SEC") which are available at the SEC's Internet site (http://www.sec.gov).
SOURCE FIGR Inc.
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