Flora Growth Appoints Former Amazon Executive Tim Leslie to Its Board of Directors and Names CEO Luis Merchan Chairman
March 17 2022 - 8:00AM
Business Wire
- Flora Growth’s CEO Luis Merchan is named Chairman of the Board
of Directors.
- Tim Leslie, Chairman of Flora’s Advisory Board, will join the
Flora Board of Directors and audit committee.
- Changes to the Board of Directors signal the Company’s move
toward becoming a U.S.-based issuer and will support Flora’s growth
into new international markets.
Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a
leading all-outdoor cultivator and manufacturer of global cannabis
products and brands, announced today changes to its Board of
Directors (the “Board”) including the appointment of CEO Luis
Merchan as Chairman of the Board as well as the addition of
industry veteran Tim Leslie to the Board and audit committee.
Merchan has replaced Bernie Wilson as Chairman of the Board. Wilson
will remain in an advisory capacity for the remainder of 2022 and
will provide strategic guidance on capital markets and
international expansion. The changes to the Board will further
position Flora as a U.S.-based issuer and is expected to increase
the Company’s access to U.S-based investment.
Flora Chairman and CEO Luis Merchan has been focused on
expanding the Company’s reach within the United States and abroad.
Through his leadership, Flora has moved from the development stage
to a full-scale international distributor and house of brands with
operations in more than 12 countries. He has been pivotal in
completing recently announced M&A transactions with leading
hardware manufacturer Vessel and highly regarded wellness company
JustCBD, solidifying the path to rapid growth.
“I am honored that our Board has entrusted me with this role,
and I believe it is a testament to what we have built together thus
far,” said Flora Growth CEO and newly appointed Chairman of the
Board Luis Merchan. “Our Board has been incredibly supportive to
date while always ensuring business decisions are in the best
interest of our shareholders - and I am looking forward to
continuing to work closely with them in this role.”
A Yale Law graduate, Tim Leslie has a strong pedigree of
success, working with scaling companies including his two decades
at Amazon. Leslie has been Chairman of the Company’s Advisory Board
since the beginning of 2022, where he has utilized his years of
experience as CEO of Leafly and as an Amazon executive to help
counsel Flora’s leadership team. As Flora continues its rapid,
global expansion, Leslie will play a critical role in navigating
this hyper-growth phase. In addition to his role as board member,
Leslie will also join the Company’s audit committee.
These appointments come as former Chairman of the Board, Bernie
Wilson, steps down from his role and transitions to an advisory
capacity to provide Merchan and the Board with strategic counsel,
leveraging his insights and tenure in capital markets. “We want to
thank Bernie for his commitment to the growth of Flora during this
formative time for our company and look forward to continuing to
work with him as we continue to grow,” added Merchan.
About Flora Growth Corp.
Flora is building a connected, design-led collective of
plant-based wellness and lifestyle brands that is designed to
deliver one of the most compelling customer experiences in the
world, one community at a time. As the operator of one of the
largest outdoor cannabis cultivation facilities, Flora leverages
natural, cost-effective cultivation practices to supply cannabis
derivatives to its diverse business divisions of cosmetics, hemp
textiles, and food and beverage. Visit www.floragrowth.com or
follow @floragrowthcorp on social [media] for more information.
Cautionary Statement Concerning Forward-Looking
Statements
This document contains forward-looking statements. In addition,
from time to time, we or our representatives may make
forward-looking statements orally or in writing. We base these
forward-looking statements on our expectations and projections
about future events, which we derive from the information currently
available to us. Such forward-looking statements relate to future
events or our future performance, including: the size of markets
for cannabis and cannabis products; the collaboration with third
parties; and our business prospects and opportunities. You can
identify forward-looking statements by those that are not
historical in nature, particularly those that use terminology such
as “may,” “should,” “expects,” “anticipates,” “contemplates,”
“estimates,” “believes,” “plans,” “projected,” “predicts,”
“potential,” or “hopes” or the negative of these or similar terms.
In evaluating these forward-looking statements, you should consider
various factors, including: our ability to change the direction of
the Company; our ability to keep pace with new technology and
changing market needs; and the competitive environment of our
business. These and other factors may cause our actual results to
differ materially from any forward-looking statement.
Forward-looking statements are only predictions. The
forward-looking events discussed in this document and other
statements made from time to time by us or our representatives may
not occur, and actual events and results may differ materially and
are subject to risks, uncertainties and assumptions about us. We
undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of uncertainties and
assumptions, or the forward-looking events discussed in this
document and other statements made from time to time by us or our
representatives not occurring, except as may be required by
applicable law.
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Investor Relations: Evan Veryard
evan.veryard@floragrowth.com
Public Relations: Cassandra Dowell +1 (858) 264-6600
flora@cmwmedia.com
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