MORRISVILLE, N.C., Oct. 13, 2020 /PRNewswire/ — Pyxus Worldwide, Inc. (OTC Pink: PYYX) (“Pyxus Worldwide” or the “Firm”), a world value-added agricultural firm, introduced immediately that it has appointed Robert George, Carl Hausmann, Cynthia Moehring and Richard Topping to its Board of Administrators, efficient October 12, 2020. These people be a part of beforehand introduced board members Holly Kim, Companion at Glendon Capital Administration L.P.; Patrick Fallon, Principal at Monarch Various Capital LP; and Pieter Sikkel, president and CEO of Pyxus Worldwide.
“The addition of the brand new members to Pyxus’ board of administrators is a key milestone in its transformation technique,” mentioned Sikkel. “We consider this mixture of administrators brings confirmed monetary and operational observe information and various views that can contribute to Pyxus’ future success, and we stay up for working with this group of confirmed leaders to speed up the Firm’s progress.”
George brings intensive monetary and operational expertise in public, personal and personal equity-backed diversified industrial companies. Most just lately, he served as EVP, CFO and Company Improvement for Esterline Applied sciences, a expertise pushed worldwide producer, the place he performed a key function in driving Esterline’s transformation from a $300 million conglomerate to a $2 billion aerospace/protection firm. Previous to becoming a member of Esterline, George held varied management positions with Zurn Industries and Elgin Electronics. He’s a member of the Board of Administrators of Superior Integration Know-how, LP.
Hausmann brings greater than 35 years of expertise within the agribusiness and meals industries. He retired in June 2012 as Managing Director – World Authorities & Company Affairs of Bunge Restricted, a number one world agribusiness and meals firm, having spent a decade serving in govt roles with Bunge associates in North America and Europe. As CEO of Bunge North America, he led a group of 4,000 workers to $15 billion in gross sales. Previous to becoming a member of Bunge, Hausmann served as Chair and CEO of Cereol S.A., a French public firm engaged in world grain buying and selling and processing that was bought by Bunge in 2002, and held varied management positions with Continental Grain Firm in Europe, South America, Africa and america. Following his retirement from Bunge, Hausmann served as a member of the Board of Administrators of Pyxus Worldwide’s predecessor, then named Alliance One Worldwide, Inc., from June 2013 to August 2018.
Moehring is the founder and govt chair of the Enterprise Integrity Management Initiative on the College of Arkansas – Sam M. Walton School of Enterprise. She brings over 25 years of expertise as a strategic senior govt, together with 20 years at Walmart, Inc. the place she served as SVP, U.S. Chief Ethics and Compliance Officer and SVP, World Chief Ethics Officer, amongst different management positions. She has broad expertise in lots of areas, together with enterprise danger administration, efficient world governance practices, mergers and acquisitions, IPOs, range and inclusion and sustainability. Whereas at Walmart, she led the event and fast deployment of expertise and effectivity initiatives, together with blockchain and different digital instruments, for over 5,000 amenities. She additionally developed and applied a world ethics program and group situated in 27 nations for greater than 2 million workers.
Topping has 4 a long time of expertise within the tobacco trade. He has held a wide range of world management positions all through the availability chain, working with each tobacco leaf retailers and cigarette producers. He most just lately labored with Japan Tobacco Worldwide and its predecessor corporations, and served as VP – World Leaf Sourcing previous to retiring in June 2018. Topping has wide-ranging world experience, from each the service provider and cigarette producer perspective, in leaf sourcing and procurement methods, logistics, operations and gross sales all through North and South America, Europe, Asia and Africa.
About Pyxus Worldwide, Inc.
Pyxus Worldwide, Inc. is a world agricultural firm with greater than 145 years’ expertise delivering value-added services and products to companies and clients. Pushed by a united goal—to remodel folks’s lives, in order that collectively we are able to develop a greater world—Pyxus Worldwide, its subsidiaries and associates, are trusted suppliers of responsibly sourced, independently verified, sustainable and traceable merchandise and substances. For extra info, go to www.pyxus.com.
Cautionary Assertion Relating to Ahead-Wanting Statements
This press launch comprises “forward-looking statements” as outlined within the Non-public Securities Litigation Reform Act of 1995. These statements are based mostly on present expectations of future occasions. Such statements embody, however should not restricted to, statements about future monetary and working outcomes, plans, aims, expectations and intentions and different statements that aren’t historic information. Such statements are based mostly on the present beliefs and expectations of administration and are topic to important dangers and uncertainties. If underlying assumptions show inaccurate or identified or unknown dangers or uncertainties materialize, precise outcomes might differ materially from these presently anticipated anticipated or projected. A few of these dangers and uncertainties embody:
- dangers and uncertainties referring to the circumstances (the “Chapter 11 circumstances”) voluntarily commenced by the Firm’s predecessor and sure of its home subsidiaries in June 2020 underneath Chapter 11 of america Chapter Code to implement a prepackaged Chapter 11 plan of reorganization so as to effectuate a monetary restructuring, which plan or reorganization, as amended, was confirmed and have become efficient in August 2020, together with however not restricted to: whether or not the Firm’s leaf tobacco clients, farmers and different suppliers may lose confidence in Pyxus on account of the Chapter 11 circumstances and will search to determine different business relationships, whether or not, on account of the Chapter 11 circumstances, overseas lenders which have supplied short-term working credit score strains to fund leaf tobacco operations on the native stage might lose confidence in Pyxus and stop to offer such funding, and uncertainty and persevering with dangers related to the Firm’s capability to realize its targets and proceed as a going concern;
- danger and uncertainties associated to the Firm’s leaf tobacco operations, together with modifications within the timing of anticipated shipments, modifications in anticipated geographic product sourcing, modifications in related capital markets affecting the phrases and availability of short-term seasonal financing, political instability, forex and rate of interest fluctuations, shifts within the world provide and demand place for tobacco merchandise, modifications in tax legal guidelines and laws or the interpretation of tax legal guidelines and laws, decision of tax issues, adversarial climate situations, the impression of disasters or different uncommon occasions affecting worldwide commerce, and modifications in prices incurred in supplying merchandise and associated companies;
- dangers and uncertainties associated to the COVID-19 pandemic, together with potential delays in shipments of leaf tobacco, together with from the closure or restricted actions at ports or different channels, disruptions to the Firm’s operations or the operations of suppliers and clients ensuing from restrictions on the flexibility of workers and others within the provide chain to journey and work, border closures, determinations by Pyxus or shippers to quickly droop operations in affected areas, whether or not the Firm’s operations which were categorised as “important” underneath varied governmental orders proscribing enterprise actions will proceed to be so categorised or, even when so categorised, whether or not site-specific well being and security issues associated to COVID-19 may in any other case require operations at any of our amenities to be halted for some time period, unfavourable shopper buying habits with respect to the Firm’s merchandise or the merchandise of its leaf tobacco clients during times of presidency mandates proscribing actions imposed in response to the COVID-19 pandemic, and the extent to which the impression of the COVID-19 pandemic on the Firm’s operations and the demand for its merchandise might not coincide with impacts skilled in america because of the worldwide scope of its operations, together with in rising markets which have solely just lately skilled COVID-19 outbreaks; and
- dangers and uncertainties associated to the Firm’s enterprise strains in its FIGR Manufacturers division, together with with respect to the impression of regulation related to these enterprise strains, together with the danger of acquiring anticipated regulatory approvals for hashish merchandise in Canada and for nicotine e-liquids merchandise in america, uncertainties relating to the regulation of the manufacturing and distribution of commercial hemp merchandise and continued compliance with relevant regulatory necessities, uncertainties with respect to the event of the industries and markets of the brand new enterprise strains, shopper acceptance of merchandise supplied by the brand new enterprise strains, uncertainties with respect to the timing and extent of geographic and product-line growth, the impression of accelerating competitors within the new enterprise strains, uncertainties relating to the viability of amenities expansions, the potential of delays within the completion of amenities expansions and uncertainties relating to the potential manufacturing yields of recent or expanded amenities, in addition to the progress of legalization of hashish for medicinal and grownup leisure makes use of in different jurisdictions.
Extra components with respect to dangers and uncertainties with respect to an funding within the widespread inventory of Pyxus Worldwide, Inc. could be discovered within the Annual Report on Kind 10-Ok for the interval ended March 31, 2020 of its predecessor, Previous Holdco, Inc. (previously named Pyxus Worldwide, Inc.), and its different filings with the Securities and Alternate Fee (the “SEC”) which can be found on the SEC’s Web website (http://www.sec.gov). Pyxus Worldwide doesn’t undertake to replace any forward-looking statements made on this press launch to replicate any change in administration’s expectations or any change within the assumptions or circumstances on which such statements are based mostly, besides as required by legislation.
SOURCE Pyxus Worldwide, Inc.