CbdMD : Martin Sumichrast resigns as CEO, Board Member - Form 8-K/A
June 14, 2022 at 07:23 am EDT
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Martin Sumichrast resigns as CEO, Board Member
CHARLOTTE, NC- JUNE 13, 2022 - cbdMD, Inc. (NYSE American: YCBD) (NYSE American: YCBDpA), announced today that Martin Sumichrast has resigned as CEO and member of the Board of Directors, effective immediately. Board member Scott Stephen was named Board Chair and board member Scott Coffman, former co-CEO and the operating company founder, will consult with the Board of Directors in leading the company until a new CEO is named.
"We appreciate the years of service that Marty has given to our Company since its founding. However, we believe it is in the best interest of cbdMD, our employees, and our investors for him to step down." said Stephen. "We remain focused on and committed to delivering the highest quality and most trusted CBD products in the industry to our customers."
The Securities and Exchange Commission (SEC) recently filed an action against Sumichrast in connection with his role at a private company he previously managed. The SEC complaint does not allege any wrongdoing by cbdMD, Inc.
About cbdMD, Inc.
cbdMD, Inc. is one of the leading and most highly trusted and most recognized cannabidiol (CBD) brands with a comprehensive line of U.S. produced, THC-free1 CBD products as well as our new Full Spectrum products. Our cbdMD brand currently includes high-grade, premium CBD products including CBD tinctures, CBD gummies, CBD topicals, CBD capsules, CBD bath bombs, CBD sleep aids and CBD drink mixes. Our Paw CBD brand of pet products includes veterinarian-formulated products including tinctures, chews, topicals products in varying strengths, and our CBD Botanicals brand of beauty and skincare products comprised of facial oil and serum, toners, moisturizers, clear skin, facial masks, exfoliants and body care. To learn more about cbdMD and their comprehensive line of U.S. grown, THC-free1 CBD oil and Full Spectrum products, please visit www.cbdmd.com, follow cbdMD on Instagram and Facebook, or visit one of the thousands of retail outlets that carry cbdMD's products.
1 THC-free is defined as below the level of detection using validated scientific analytical tools.
Media and Investor Contact
John Weston
Director of Investor Relations
john.weston@cbdmd.com
(704) 249-9515
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cbdMD Inc. published this content on 14 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 June 2022 11:22:03 UTC.
cbdMD, Inc. produces and distributes cannabidiol (CBD) products. The Company owns and operates CBD brands cbdMD, Paw CBD and cbdMD Botanicals. Its cbdMD brand of products includes a range of premium every day and functional CBD products, including tinctures; gummies; topicals; capsules; drink mixes; and sleep, focus and calming aids.Its Paw CBD brand of products includes a line of veterinarian-formulated products including tinctures, chews, topicals products in varying strengths and formulas. Its cbdMD Botanicals brand of beauty and skincare products features facial oil and serum, toners, moisturizers, clear skin, facial masks, exfoliants and body care stock-keeping units (SKU). cbdMD, Paw CBD and cbdMD Botanicals products are distributed through its e-commerce websites, third party ecommerce sites, select distributors and marketing partners as well as a variety of brick-and-mortar retailers. Its products are sold through www.cbdmd.com, www.pawcbd.com, and cbdmdbotanicals.com Websites.