Cronos Group Appoints Dr. Todd Abraham as Chief Innovation Officer
July 09 2019 - 7:30AM
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“
Cronos
Group” or the “
Company”) today announced
that Dr. Todd Abraham has been appointed as the Company’s Chief
Innovation Officer. In this role, Dr. Abraham will be responsible
for advancing Cronos Group’s research and development initiatives
in cannabinoids with a focus on identifying new disruptive
technologies and adopting best practices and innovations from
adjacent consumer goods industries. Dr. Abraham will report to
Cronos Group CEO Mike Gorenstein.
Considered to be a consumer-packaged goods
(“CPG”) thought leader, Dr. Abraham brings to
Cronos Group extensive experience in identifying, developing and
commercializing innovative breakthrough technology for the consumer
goods sector. He joins the Company after 17 years with Mondelēz
International, where he most recently served as Senior Vice
President, Research and Nutrition and Vice President, Global
Research and Technology Strategy. In these roles, Dr. Abraham was
responsible for worldwide technology development and strategy,
scientific screening, nutritional science and communication,
consumer guidance testing, analytical programs, R&D training
and intellectual property strategy for a $35 billion multi-national
business. Prior to Mondelēz, Dr. Abraham served in various R&D,
technology, marketing and product development roles for The
Pillsbury Company and Procter & Gamble.
“As we continue to build out our executive team with proven
leaders, Dr. Abraham emerged as a perfect choice for our Chief
Innovation Officer given his outstanding record of transferring
consumer needs from development to the marketplace,” said Mike
Gorenstein. “I am confident his strategic business experience
coupled with his skills in product development, nutritional
science, R&D strategy and organizational development will
benefit our own growth as a global leader in cannabinoid
innovation.”
Dr. Abraham said, “With Cronos Group, I have an exciting
opportunity to join a company committed to innovation to create a
new market and shape a new industry. The work Cronos Group has
underway with Ginkgo Bioworks and Cronos Device Labs is just the
beginning. I look forward to leveraging my consumer products
experience, technical expertise and scientific background to help
drive Cronos Group’s cannabinoid technology and product development
across categories.”
About Dr. Todd AbrahamTodd K. Abraham, Ph.D.
served as Senior Vice President, Research and Nutrition for
Mondelēz International from 2007 to 2017 and as Vice President,
Global Research and Technology Strategy from 2002 to 2007. In these
roles, he was responsible for worldwide technology development and
strategy, scientific screening, nutritional science and
communication, consumer guidance testing, analytical programs,
R&D training, knowledge management and intellectual property
strategy.
From 2000 to 2002, Dr. Abraham held various executive positions
at Nabisco Foods Company, including serving as Vice President,
Nabisco Biscuit, Snacks and Confection Segment.
Prior to Nabisco Foods Company, Dr. Abraham served in numerous
leadership positions in Marketing, General Management and R&D
at The Pillsbury Company, from 1985 to 2000. He began his career in
the consumer products industry at Procter & Gamble where he
served as Product Development, Technical Brand Manager / Group
Leader from 1981 to 1985.
Dr. Abraham holds a Bachelor of Science in Chemistry from Brown
University, a Master of Business Administration in Strategic
planning from The Wharton School and a Ph.D. in Chemistry from the
University of Pennsylvania.
About Cronos Group Inc.Cronos Group is an
innovative global cannabinoid company with international production
and distribution across five continents. Cronos Group is
committed to building disruptive intellectual property by
advancing cannabis research, technology and product
development. With a passion to responsibly elevate the
consumer experience, Cronos Group is building an iconic brand
portfolio. Cronos Group’s portfolio includes PEACE
NATURALS™, a global health and wellness
platform, and two adult-use brands, COVE™ and
Spinach™. To learn more about Cronos Group and its brands,
please visit: www.thecronosgroup.com; www.peacenaturals.com;
www.covecannabis.ca; www.spinachcannabis.com.
Forward-Looking Statements This news release
contains “forward-looking information” and “forward-looking
statements” within the meaning of applicable Canadian and U.S.
securities laws. All information contained herein that is not
clearly historical in nature may constitute forward-looking
information. In some cases, forward-looking statements can be
identified by words or phrases such as “may”, “will”, “expect”,
“plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe”
or the negative of these terms, or other similar expressions
intended to identify forward-looking statements. Some of the
forward-looking statements contained in this press release include
the Company’s and Dr. Abraham’s ability or plans to identify,
develop, commercialize or expand the Company’s technology and
research and development initiatives in cannabinoids, or the
success thereof, the Company’s intention to build an international
iconic brand portfolio and develop disruptive intellectual
property. Forward-looking statements are necessarily based upon a
number of estimates and assumptions that, while considered
reasonable by management, are inherently subject to significant
business, economic and competitive risks, uncertainties and
contingencies that may cause actual financial results, performance
or achievements to be materially different from the estimated
future results, performance or achievements expressed or implied by
those forward-looking statements and the forward-looking statements
are not guarantees of future performance. A discussion of some of
the material risks applicable to the Company can be found in the
Company’s current Management’s Discussion and Analysis and Annual
Information Form, both of which have been filed on SEDAR and EDGAR
and can be accessed at www.sedar.com and www.sec.gov/edgar,
respectively. The forward-looking information included in this news
release is made as of the date of this news release and, except as
required by law, Cronos Group disclaims any obligation to update or
revise any forward-looking statements. Readers are cautioned not to
put undue reliance on these forward-looking statements.
Cronos Group ContactAnna Shlimak Tel: (416)
504-0004 investor.relations@thecronosgroup.com
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