Guardion Health Sciences, Inc. (Nasdaq: GHSI) (“Guardion” or the
“Company”), a clinical nutrition company that offers a portfolio of
science-based, clinically-supported products designed to support
the health needs of consumers, healthcare professionals and
providers and their patients, announced that Janet (“Jan”) Hall has
been appointed as the Company’s new President and Chief Executive
Officer. Ms. Hall is assuming these executive positions from Bret
Scholtes, who has served in those positions since January 6, 2021.
Mr. Scholtes is resigning effective June 9, 2023, and is also
concurrently resigning from the Board of Directors of the Company.
Ms. Hall will be officially starting with Guardion on June 19,
2023.
Jan Hall is a highly regarded veteran of big
consumer health and consumables and brings an extensive array of
commercial experience and accomplishments, including senior
executive positions with blue-chip companies such as Johnson &
Johnson, where she was President, North America of the Neutrogena
Company, and The Coca-Cola Company, where she was SVP & General
manager of Consumer Marketing. Jan started her marketing career at
United Biscuits and Cadbury Schweppes, and moved into the consumer
health sector with senior marketing roles at SmithKline Beecham
(GlaxoSmithKline). Most recently, Jan was Chief Executive Officer
of M2 Ingredients, a vertically integrated company with an FDA
registered controlled environment facility that grows, processes
and packages functional foods and nutritional products.
Robert Weingarten, Guardion’s Chairman of the
Board of Directors, commented, “We are very excited to welcome Jan
Hall to Guardion. Jan’s proven track record growing well-known
consumer and healthcare brands, as well as extensive marketing and
commercial experience, will be an enormous asset to the Company
going forward, particularly at this stage in the development of
Guardion’s business and focus on growth”.
Mr. Weingarten continued, “Jan has made major
contributions in her previous positions, including increasing
Neutrogena revenues by more than 60%, and launching new categories
across all companies, including at-home dermatology, natural skin
care, and sports performance drinks. Jan has also introduced
new delivery formats such as Rx to OTC switch for the
gastrointestinal market, and new products and packaging, including
nutrient-dense plant-based foods and combinations of medicinal
mushrooms and botanicals”.
Mr. Weingarten concluded, “We would like to
express our sincere appreciation to Bret Scholtes for his efforts
over the past two and one-half years in guiding the Company through
a period of significant transformation. Under the direction of Mr.
Scholtes, Guardion acquired and successfully integrated the
Viactiv® branded product line in June 2021, which has provided us
with a strong foundation in the clinical nutrition business. We
wish Mr. Scholtes success in his new endeavor.”
Jan Hall, Guardion’s new President and Chief
Executive Officer, commented, “I am delighted to be joining
Guardion at this very important time. With the Company having just
reported a 34% increase in revenue growth for the quarter ended
March 31, 2023 as compared to the quarter ended March 31, 2022, I
believe that there is a huge opportunity to work from this baseline
to add significant value to Guardion’s core Viactiv® business by
assembling and implementing a focused business strategy to increase
revenue growth, improve profit margins, and develop complementary
products and distribution channels.”
Additional information with respect to the
aforementioned matters will be included in one or more Current
Reports on Form 8-K, which will be filed with the U.S. Securities
and Exchange Commission (the “SEC”) at www.sec.gov.
About Guardion Health Sciences,
Inc.
Guardion Health Sciences, Inc. (Nasdaq: GHSI),
is a clinical nutrition company that offers a portfolio of
science-based, clinically supported products designed to support
the health needs of consumers, healthcare professionals and
providers and their patients. Information and risk factors with
respect to Guardion and its business may be obtained in the
Company’s filings with the SEC at www.sec.gov.
Forward-Looking Statement
Disclaimer
With the exception of the historical information
contained in this news release, the matters described herein may
contain “forward-looking statements” within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. These
forward-looking statements contain information about our
expectations, beliefs, plans or intentions regarding our product
development and commercialization efforts, research and development
efforts, business, financial condition, results of operations,
strategies or prospects, and other similar matters. Statements
preceded by, followed by or that otherwise include the words
“believes,” “expects,” “anticipates,” “intends,” “projects,”
“estimates,” “plans,” “hopes” and similar expressions or future or
conditional verbs such as “will,” “should,” “would,” “may” and
“could” are generally forward-looking in nature and not historical
facts, although not all forward-looking statements include the
foregoing.
These statements are based on management’s
current expectations and assumptions about future events, which are
inherently subject to uncertainties, risks and changes in
circumstances that are difficult to predict, and involve unknown
risks and uncertainties that may individually or materially impact
the matters discussed herein for a variety of reasons that are
outside the control of the Company, including, but not limited to,
the Company’s ability to raise sufficient financing to fund its
business plan, the impact of the Company’s exploration of strategic
alternatives, any replacement and integration of new management
team members, the implementation of new financial, management,
accounting and business software systems, the identification and
integration of possible acquisition targets and suitors, the impact
of the Covid-19 pandemic, supply chain disruptions, inflation and a
potential recession on the Company’s business, operations and the
economy in general, the Company’s ability to successfully develop
and commercialize its proprietary products and technologies, and
the Company’s ability to maintain compliance with Nasdaq’s
continued listing requirements.
Readers are cautioned not to place undue
reliance on these forward-looking statements, as actual results
could differ materially from those described in the forward-looking
statements contained herein. Readers are urged to read the risk
factors set forth in the Company’s filings with the SEC, which are
available at the SEC’s website (www.sec.gov). The Company disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor Relations Contact:
CORE IRScott Arnold516-222-2560scotta@coreir.com
Media Relations Contact:
Jules AbrahamDirector of Public RelationsCORE
IR917-885-7378julesa@coreir.com
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