27 Apr, 2020, 07:30 ET
- Beena Goldenberg, former CEO of Hain-Celestial Canada, a leading organic and natural products company, has been appointed as the Company's new President and CEO to drive Supreme Cannabis' long-term profitable growth as a premium cannabis CPG company
- Ms. Goldenberg succeeds interim President and CEO, Colin Moore, who led the transformation of the Company, streamlining costs and focusing on near-term revenue drivers
TORONTO, April 27, 2020 /CNW/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) announced today that its board of directors (the "Board") has named Beena Goldenberg, former CEO of Hain-Celestial Canada ("Hain Canada"), as the Company's President and Chief Executive Officer, effective immediately. Ms. Goldenberg succeeds Colin Moore, who as interim President and Chief Executive Officer since January 2020 took significant steps to reduce the Company's operating and overhead costs, expand its product offering across all market segments and accelerate its transition into a premium cannabis consumer packaged goods ("CPG") company. Mr. Moore will continue to serve as a director of the Company and will also serve as an advisor to Ms. Goldenberg, providing support throughout the transition until the end of July 2020. Ms. Goldenberg has also been appointed to the Board.
"The Board and I are thrilled to welcome Beena Goldenberg to lead the Company as our new President and CEO," said Supreme Cannabis' Board Chairman, Michael La Brier. "Beena is a proven, entrepreneurial leader in the Canadian CPG sector who will apply her passion and expertise in marketing and manufacturing to Supreme Cannabis' brands and operations and capture the vast opportunities within the Canadian and global cannabis industries. Supreme Cannabis continues to attract top talent with its compelling position in the cannabis space. In this time of elevated global uncertainty, the Company is particularly fortunate to move forward with a proven leader in place."
"Over the past three months, Supreme Cannabis has made significant progress, becoming a more agile, efficient and consumer-focused company. With Ms. Goldenberg's leadership, I am convinced that our Company is better positioned than ever to succeed for the benefit of all of our stakeholders," said Mr. Moore. "I would like to take this opportunity to thank the dedicated Supreme Cannabis employees who I had the pleasure of working with over the past four months. I look forward to supporting our new President and CEO through this transition and continuing to work with her in my role on the Board."
As Supreme Cannabis's new President and CEO, Ms. Goldenberg's priority is to lead the Company to profitable, long-term growth as a premium cannabis CPG company, with the near-term objective of continuing to protect the well-being of its employees and customers during the current COVID-19 pandemic. Despite external business disruptions related to COVID-19, as previously announced, the Company remains committed to driving near-and long-term revenue with new high-quality brands and products at every price segment, supported by sales models that achieve comprehensive distribution to consumers throughout Canada.
"I am humbled and excited by this opportunity to help grow a leading cannabis CPG company. Supreme Cannabis' award-winning premium brands, deep dedication to quality and industry-leading cultivation and production facilities are tremendous advantages for any CPG company, especially one in the cannabis industry, which is now increasingly consumer-driven," Ms. Goldenberg commented. "I look forward to working with this outstanding team to accelerate the Company's recent progress within the consumer marketplace. Together, we will continue expanding our brands and product offerings, strengthening distribution capabilities and driving profitable revenue growth. I have a strong belief in the Company and look forward to being a part of its future success."
About Beena Goldenberg.
Beena Goldenberg is a proven business leader with over 30 years of experience in CPG and a background in marketing and manufacturing. She joins the Company from Hain Canada, a wholly owned subsidiary of The Hain Celestial Group (NASDAQ: HAIN). Ms. Goldenberg led Hain Canada since 2005, including as Chief Executive Officer since 2016, strategically growing the company through innovation, increased distribution and acquisitions, which resulted in sales growth from $40 million in 2005 to approximately $300 million last year.
During her 15-years at Hain Canada, Ms. Goldenberg worked with an impressive assortment of natural, organic and plant-based brands. In her executive roles at Hain Canada, she managed a portfolio of over 15 brands, most notably Ms. Goldenberg led growth initiatives for the Yves Veggie Cuisine brand and completed the acquisition of Belvedere International, which owned well-known consumer brands such as Live Clean. Ms. Goldenberg is a proven leader with experience advancing premium brands in high-growth categories and optimizing their operations in Canada.
Before Hain Canada, Ms. Goldenberg held senior leadership and marketing roles at other leading Canadian packaged goods companies, including Catelli Foods Corporation, Parmalat Canada and Pillsbury Company Limited. She has served on the Board of Food and Consumer Products of Canada, the largest CPG industry association, since 2008. She holds a Bachelor and Master of Engineering (Chemical) from McGill University.
About Supreme Cannabis.
The Supreme Cannabis Company, Inc., (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), is a global diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the Company has emerged as one of the world's fastest-growing, premium plant-driven lifestyle companies. Supreme Cannabis' portfolio of brands caters to diverse consumer experiences, with brands and products that address recreational, wellness, medicinal and new consumer preferences.
The Company's brand portfolio includes, 7ACRES, Blissco, Truverra, Sugarleaf by 7AC and Khalifa Kush Enterprises Canada. Supreme Cannabis' brands are backed by a focused suite of world-class operating assets that serve key functions in the value chain, including, scaled cultivation, value-add processing, centralized manufacturing and product testing and R&D. Follow the Company on Instagram, Twitter, Facebook, LinkedIn and YouTube.
We simply grow better.
Certain statements made in this press release may constitute "forward-looking information", "future oriented financial information" or "financial outlooks" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information may relate to anticipated events or results including, but not limited to: the Company's transition into a premium cannabis CPG company; Mr. Moore's role as a director and advisor; the Company's near-term objective of continuing to protect the well-being of its employees and customers during the current COVID-19 pandemic; attracting top talent; the Company's commitment to driving near-and long-term revenue with new high-quality brands and products at every price segment, supported by sales models that achieve comprehensive distribution to consumers throughout Canada; expanding the Company's brands and product offerings, strengthening distribution capabilities and driving profitable revenue growth; and other statements that are not historical facts. Particularly, information regarding our expectations of future results, targets, performance achievements, prospects or opportunities is forward-looking information. Often, but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology. Forward-looking information is current as of the date it is made and is based on reasonable estimates and assumptions made by us at the relevant time in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. To the extent any forward-looking information in this press release constitutes "future oriented financial information" or "financial outlooks", within the meaning of applicable securities laws, the purpose of such information being provided is to demonstrate the potential of the Company and readers are cautioned that this information may not be appropriate for any other purpose. However, we do not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. There can be no assurance that such estimates and assumptions will prove to be correct.
Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking information as discussed in the "Risk Factors" section of the Company's Annual Information Form dated September 17, 2019 ("AIF"). A copy of the AIF and the Company's other publicly filed documents can be accessed under the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information.
SOURCE The Supreme Cannabis Company, Inc.
For further information: Madelin Daviau, Investor Relations, Email: [email protected], Phone: 416-466-6265, supreme.ca
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