Turning Point Brands appoints Graham Purdy as CEO; reports preliminary Q3 results and updated FY2022 outlook

Turning Point Brands, Inc.

2022-Q3 EPS reported $1.45 revenue$311,621,000

Yavor Efremov resigned as CEO and director effective Oct 15, 2022; no disagreement. Graham Purdy (previously COO) appointed CEO and board member.
David Glazek (Chairman) to become Executive Chairman effective January 2023; steps down from Compensation and Nominating committees.
Preliminary Q3 2022 net sales $106-108M, net income $10.5-12M, adjusted EBITDA $23.5-25M.
Full-year 2022 guidance: Zig-Zag Products sales lowered to $186-191M (from $193-200M); Stoker's unchanged $128-132M.
Consolidated adjusted EBITDA guidance narrowed to $96-99M (from $97-103M).

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Graham A. Purdy

President and Chief Executive Officer

TPB · Turning Point Brands, Inc.

Effective: 2022-10-16
Filed: October 17, 2022, 7:59 PM ET

the Board appointed Graham A. Purdy as President and Chief Executive Officer of the Company and as a member of the Board, effective as of October 16, 2022.

Role change

David Glazek

Executive Chair

TPB · Turning Point Brands, Inc.

Filed: October 17, 2022, 7:59 PM ET

David Glazek, Chairman of the Board, will transition to the role of Executive Chair effective January 2023.

Departed

Yavor Efremov

Chief Executive Officer and President

TPB · Turning Point Brands, Inc.

Effective: 2022-10-15
Successor: Graham A. Purdy
Filed: October 17, 2022, 7:59 PM ET

As part of this transition, Mr. Yavor Efremov has resigned as Chief Executive Officer and President and from the Board of Directors (the “ Board ”), effective as of October 15, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Graham A. Purdy was appointed as President and Chief Executive Officer at Turning Point Brands, Inc..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

the Board appointed Graham A. Purdy as President and Chief Executive Officer of the Company and as a member of the Board, effective as of October 16, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.9

David Glazek changed role as Executive Chair at Turning Point Brands, Inc..

Action: will transition to
Role: Executive Chair

Exact text from the filing

David Glazek, Chairman of the Board, will transition to the role of Executive Chair effective January 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Yavor Efremov resigned as Chief Executive Officer and President at Turning Point Brands, Inc..

Action: resigned
Role: Chief Executive Officer and President

Exact text from the filing

As part of this transition, Mr. Yavor Efremov has resigned as Chief Executive Officer and President and from the Board of Directors (the “ Board ”), effective as of October 15, 2022.

View on SEC.gov

Turning Point Brands, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-22-037325

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