LOS
ANGELES, May 20, 2024 /PRNewswire/
-- Ispire Technology Inc. ("Ispire" or the "Company")
(NASDAQ: ISPR), a leader in the development and
commercialization of vaping technology and precision dosing,
announced that Jim McCormick has
been appointed Chief Financial Officer. The Company also announced
the appointments of: John Patterson
as Senior Vice President of International Nicotine; Dennis Lider as Senior Vice President of
Cannabis Product Sales; and David
Hessler as Senior Vice President of Operations.
"We're thrilled to announce this significant talent upgrade at
Ispire as we gear up for rapid expansion both domestically and
internationally," said Ispire's Co-Chief Executive
Officer Michael Wang.
"We are delighted to welcome Jim, John, David and Dennis aboard as
valuable additions to our team. These strategic moves underscore
our commitment to driving innovation and our growth as we grow
globally."
Wang added, "Jim embodies dynamism in executive leadership, with
a remarkable career spearheading financial and business operations
worldwide. As we drive Ispire's mission of being a worldwide leader
in R&D, design, commercialization, manufacturing, sales,
marketing and distribution for branded and ODM solutions for the e
global vaping and cannabis industries, Jim brings a unique fusion
of entrepreneurial zeal and operational prowess essential for
scaling our business."
"As someone who has admired Ispire's dedication to client value
over the years, I look forward to collaborating with Michael and
the executive team to further enhance Ispire's achievements not
only in the U.S. but also in diverse markets worldwide," said
Ispire CFO Jim McCormick.
Chief Financial Officer Jim
McCormick
Jim McCormick brings more than
three decades of diverse leadership experience to his new role. He
started his career in public accounting with KPMG Peat Marwick in
1989, transitioning to consumer goods with Mid-America Pepsi-Cola
and later joining British American Tobacco's (BAT) associate
company Brown & Williamson Tobacco in 1992. More than a dozen
years at BAT, he held various international general management and
CFO positions across Europe,
South America, Southeast Asia, Sub-Saharan Africa, and
Northern Africa. In 2009, he
returned to the US, holding CFO roles in Federal Flange Inc. and
Sodexo's Corporate Service division. He later joined ECIG, a
publicly traded vaping products company, before serving as COO and
CFO of KushCo Holdings Inc. from August
2017 to January 2019, and as
president of Ignite International Inc. until December 2019. Most recently, he has provided
consultancy services to several companies, including UMBRLA, Inc.,
Redbird Bioscience, Cars & Credit Master, Abstrax Tech Inc.,
and Thought Leaders, Inc., focusing on the heated tobacco sector.
Jim holds a B.S. in Finance and Accounting from Eastern Illinois University (1988) and an MBA from
Southern Illinois University
Edwardsville (1992). He is also a Certified Public
Accountant (CPA), Certified Management Accountant (CMA), and
Certified Internal Auditor (CIA), though currently inactive.
Senior Vice President of International Nicotine John Patterson
John Patterson brings more than
25 years of extensive experience in the tobacco and next-generation
nicotine categories, spanning both US domestic and international
markets, notably in the UK and the EU. Beginning his career at
Altria, John has since held pivotal roles across Europe for Philip Morris International, NJOY
and most recently Juul Labs, where
he served as Senior Director and Country Manager for the
United Kingdom. As a dynamic and
thoughtful leader, John boasts over two decades of experience
surpassing commercial targets and driving sales growth while
effectively managing costs. With a keen strategic mindset and
strong operational acumen, he has navigated diverse countries,
cultures and trade sectors, successfully turning around struggling
brands and establishing credible start-ups.
Senior Vice President of Cannabis Product Sales Dennis Lider
With more than 20 years of CPG sales leadership experience,
Dennis Lider joins Ispire, boasting
over a decade of executive leadership in revenue management. Since
2019, he has held senior-level positions with publicly traded
cannabis companies, overseeing wholesale, retail, and distribution
sales functions. Dennis brings a wealth of experience in
international market expansions, corporate business development,
global sales management, and channel diversification. He will be
based in FL, ensuring that the east coast growth aligns with the
success Ispire has achieved with its west coast legacy
partners.
Senior Vice President of Operations David Hessler
David Hessler, Senior Vice
President of Operations, began his career in California's shipping industry after
graduating from Georgetown University's School
of Foreign Service. His journey led him to Moscow in 1992, where he spent two decades in
the global cigarette industry with PMI and JTI. At JTI's Global
Supply Chain organization, David led its Global Customer Service
Department in Geneva, Switzerland,
managing operations across 190 markets with over 5000 SKUs. He also
oversaw Asia-Pacific supply chain
and manufacturing functions, including JTI Petro in St. Petersburg, Russia, the world's largest
cigarette factory outside China,
producing 87 billion cigarettes annually valued at over
$5 billion. In 2017, David
transitioned to the cannabis industry, serving as President
Manufacturing at Grupo Flor in Salinas,
CA. Recently, he was CEO at Swiss Tech Labs in Montreux,
Switzerland, exclusive European
supplier of CBD products to Oettinger Davidoff AG of Basel, a leading luxury cigar
manufacturer.
About Ispire Technology Inc.
Ispire is engaged in the research and development, design,
commercialization, sales, marketing, and distribution of branded
e-cigarettes and cannabis vaping products. The Company's operating
subsidiaries own or license more than 500 patents received or filed
globally. Ispire's tobacco products are marketed under the Aspire
brand name and are sold worldwide (except in the U.S., People's Republic of China and Russia) primarily through its global
distribution network. The Company's cannabis products are marketed
under the Ispire brand name primarily on an original design
manufacturer (ODM) basis to other cannabis vapor companies. Ispire
sells its cannabis vaping hardware only in the U.S., and it
recently commenced its marketing activities in Canada and Europe. For more information,
visit www.ispiretechnology.com or follow Ispire on
Instagram, LinkedIn, Facebook, Twitter and YouTube.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended ("Securities Act") as well as Section 21E of the Securities
Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995, as amended, that are intended to be
covered by the safe harbor created by those sections.
Forward-looking statements, which are based on certain assumptions
and describe the Company's future plans, strategies and
expectations, can generally be identified by the use of
forward-looking terms such as "believe," "expect," "may," "will,"
"should," "would," "could," "seek," "intend," "plan," "goal,"
"project," "estimate," "anticipate," "strategy," "future," "likely"
or other comparable terms, although not all forward-looking
statements contain these identifying words. All statements other
than statements of historical facts included in this press release
regarding the Company's strategies, prospects, financial condition,
operations, costs, plans and objectives are forward-looking
statements. Important factors that could cause the Company's actual
results and financial condition to differ materially from those
indicated in the forward-looking statements. Such forward-looking
statements include, but are not limited to, risks and uncertainties
including those regarding: the Company's ability to collect its
accounts receivable in a timely manner, the Company's business
strategies, the ability of the Company to market to the Ispire
ONE™, Ispire ONE™'s success if meeting its goals, the ability of
its customers to derive the anticipated benefits of the Ispire ONE™
and the success of their products on the markets; the Ispire ONE™
proving to be safe, and the risk and uncertainties described in
"Risk Factors," "Management's Discussion and Analysis of Financial
Condition and Results of Operations," "Cautionary Note on
Forward-Looking Statements" and the additional risk described in
Ispire's Annual Report on Form 10-K for the year ended June 30, 2023 and any subsequent filings which
Ispire makes with the U.S. Securities and Exchange Commission. You
should not rely upon forward-looking statements as predictions of
future events. The forward-looking statements made in the press
release relate only to events or information as of the date on
which the statements are made in the press release. We undertake no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
after the date on which the statements are made or to reflect the
occurrence of unanticipated events except as required by law. You
should read this press release with the understanding that our
actual future results may be materially different from what we
expect.
Investor Relations and Media Contacts:
For more information, kindly contact:
Investor Relations Contact:
Phil Carlson
ispire@kcsa.com
Media Contact:
Ellen
Mellody
570-209-2947
ispire@kcsa.com
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SOURCE Ispire Technology Inc.