LOS ANGELES, July 24, 2014 /PRNewswire/ -- Medbox, Inc.
(OTCQB:MDBX) (www.medbox.com), a leading dispensary
infrastructure/licensing specialist, patented technology provider,
and partner to the cannabis industry, today announced the
appointment of Mr. Guy Marsala as
its CEO, President and Board Chairman.
Mr. Marsala will also immediately become the CEO and President
of the Company's two primary operating subsidiaries of Medicine
Dispensing Systems and Vaporfection International, Inc.
Mr. Marsala has a track record of driving exceptional results in
both public and private companies by implementing Fortune 500
company best practices at early stage and middle market
companies. As an example, in 2010 he was recruited by Goldman
Sachs to become CEO of EZ Lube, LLC, a California-based quick lube retailer and
Goldman Sachs private equity portfolio company, to re-launch and
revitalize the company and position it for sale. In
less than 2 years and ahead of schedule, Mr. Marsala drove a 2x
increase in the value of the company and executed a successful sale
to a strategic buyer. At Aramark, a $10 billion global leader in food and facility
managed services, he managed all aspects of a $200M, stand-alone manufacturer and distributor
with one million customers. During his tenure, Mr. Marsala
increased revenue by 13%, cash flow by 67% and profits by 12%.
Mr. Marsala graduated from the United
States Military Academy at West Point with a Bachelor of
Science degree, and received his MBA from the University of
Dallas.
Medbox Director Mitch Lowe,
stated, "We are proud to have Mr. Marsala leading our team as we
move forward in the rapidly expanding and evolving markets which we
serve. Guy's experience in both midsize and Fortune 500 companies
will be put to good use as we continue our growth and fortify our
leadership position." He added, "I also want to thank Dr.
Bedrick for his valuable contributions to the company, and am
pleased that he will continue to play a vital role in our
organization."
Mr. Marsala commented, "I'm very excited to be joining the team
at Medbox. This company is uniquely positioned in an industry that
is experiencing rapid growth and expansion. Matching my
executive leadership experience with the industry-leading services
and technology that Medbox already provides should drive real value
for the Company and its shareholders."
"From day one, the company's founder and I have set out to
attract top notch executive and director talent," stated Dr.
Bruce Bedrick, Director at Medbox.
"I can confidently say we have recruited the best and brightest at
these positions. Vince and I remain poised to help the company on a
continued basis as we expand."
About Medbox, Inc.
Medbox (http://www.medbox.com) is the leading dispensary
infrastructure and licensing specialist, patented technology
provider, and partner to the cannabis industry. Headquartered in
Los Angeles, CA, Medbox, through
its wholly owned subsidiary, Medicine Dispensing Systems, offers
its patented systems, software and consulting services to
pharmacies, alternative medicine dispensaries and local governments
in the U.S. In addition, through its wholly owned subsidiary,
Vaporfection International, Inc. (www.vaporfection.com), the
company offers an industry award winning medical vaporizer product.
Medbox, through its newly established subsidiaries, is in
development of the following ancillary services tailored to the
alternative medicine industry: merchant services and armored
transport for cash deposits, cannabidiol research and development,
real estate acquisitions and subsequent lease programs to
alternative medicine dispensaries, and alternative medicine
dispensary management services.
Forward-Looking Statements
Statements in this press release constitute forward-looking
statements within the meaning of federal securities laws. Such
statements are based on our current beliefs and expectations and
are inherently subject to significant business, economic and
competitive uncertainties and contingencies, many of which are
beyond our control. In addition, such forward-looking statements
are subject to assumptions with respect to future business
strategies and decisions that are subject to change. Potential
risks and uncertainties include, but are not limited to, technical
advances in the industry as well as political and economic
conditions present within the industry. We do not undertake any
obligation to update any forward-looking statement to reflect
events or developments after a forward-looking statement was
made.
Contact Information
Investor Relations:
Stephen Hart
Hayden IR
+1- 917-658-7878
hart@haydenir.com
Medbox:
For more information on Medbox, please call
(800) 762-1452.
SOURCE Medbox, Inc.