Guardion Health Sciences Appoints Seasoned Nutritional Products Industry Leader Bret Scholtes as President and Chief Executiv...
December 28 2020 - 4:20PM
Guardion Health Sciences, Inc. (Nasdaq: GHSI) (“Guardion” or the
“Company”), a specialty health sciences company that develops
clinically supported nutrition, medical foods and medical devices,
with a focus in the ocular health marketplace, today announces the
appointment of Bret Scholtes, a veteran of the nutritional products
industry for nearly a decade, as its President and Chief Executive
Officer, and as a member of the Board of Directors, commencing
January 6, 2021.
“We are delighted to welcome Bret to Guardion
Health Sciences. We believe that his proven business acumen and
extensive experience in the nutritional products industry will
serve to usher Guardion into a new era of growth and success,”
commented Robert Weingarten, Chairman of the Board of Guardion
Health Sciences. “Bret’s accomplishments as a leader of a
NYSE-listed nutritional products company include significant and
sustained revenue and profit growth, a successful acquisition and
integration strategy, and ultimately a significant liquidity event
for its public stockholders. We believe that Bret’s experience will
provide the tools and leadership skills that Guardion requires to
develop and execute both near-term and longer-term business
strategies focused on product and market development that will
translate into revenue growth and ultimately profitability. We
believe that these efforts will ultimately drive stockholder
value.”
Mr. Weingarten continued, “We have structured
Bret’s compensation package in a way that aligns his strategic
focus with the primary goal of our shareholders, which is to
increase stockholder value. The Board also thanks Dr. David Evans
for his valuable stewardship while serving as the Company’s interim
President and Chief Executive Officer during these extraordinary
times.”
Mr. Scholtes has spent the last 9 years as CEO
of Omega Protein Corporation (“Omega”), a global nutritional
products company which traded on the New York Stock Exchange until
it was successfully sold to a strategic buyer in late 2017. Omega
operated branded and private label ingredient businesses with more
than 1,100 employees. During his time at Omega, annualized revenues
increased by 55%, EBITDA grew by more than 70%, and Omega’s stock
price increased by approximately 260%. In addition, Mr. Scholtes
spearheaded the acquisition of four companies, which added
approximately $125 million to revenues through complementary
product lines, introduced more than 40 new products, and expanded
successfully into several new markets. Prior to his time at Omega,
Mr. Scholtes served as Vice President, Origination at GE Energy
Financial Services, where he co-originated acquisitions with a
combined enterprise value of more than $4 billion. He has also held
several corporate development and public accounting positions,
including periods at Price Waterhouse and Arthur Andersen & Co.
Mr. Scholtes holds a Master of Business Administration degree from
New York University, a Bachelor of Science degree in Accounting
from the University of Missouri, and is a certified public
accountant.
Mr. Scholtes commented, “I was immediately
attracted to Guardion Health Sciences for its scientifically-proven
nutritional products and medical foods, combined with a product
line of evidence-based diagnostic technologies, which together
provide an elegant combination of products and technologies that
mirror what we have seen in other treatment areas covered by the
pharmaceutical and diagnostic spaces. The current market
environment presents multiple challenges, from acceptance of the
science behind medical foods and nutritional supplements, to
distribution issues that emerged from the COVID-19 pandemic, to
expanding our markets in Asia and other territories. However, I am
confident that my experience can help drive Guardion’s successful
implementation of its business plans and objectives based on
evidence-based protocols, and I look forward to working with
Guardion’s management team and directors to drive current products
into the market and bring unique and compelling new products to the
market to support the health and well-being of its customers.”
About Guardion Health
Sciences
Guardion is a specialty health sciences company
that develops clinically supported nutrition, medical foods and
medical devices, with a focus in the ocular health marketplace.
Located in San Diego, California, the Company combines targeted
nutrition with innovative, evidence-based diagnostic technology.
Guardion boasts impressive Scientific and Medical Advisory Boards.
Information and risk factors with respect to Guardion and its
business, including its ability to successfully develop and
commercialize its proprietary products and technologies, 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. Statements
preceded by, followed by or that otherwise include the words
“believes,” “expects,” “anticipates,” “intends,” “projects,”
“estimates,” “plans” 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 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 are not limited to, the Company’s ability
to raise sufficient financing to implement its business plan, the
integration of a new management team, the impact of the COVID-19
pandemic on the Company’s business, operations and the economy in
general, and the Company’s ability to successfully develop and
commercialize its proprietary products and technologies. 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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