BARK Announces CFO Transition Plan

Rhea-AI Summary

The Original BARK Company (NYSE:BARK) announced that Chief Financial Officer John Toth will step down to spend more time with family on the West Coast. Toth will remain in his role until a successor is appointed to ensure a smooth transition. CEO Manish Joneja praised Toth's contributions, highlighting his leadership in BARK's financial management and public company transition over the past six years. BARK continues to focus on its long-term growth strategy, capitalizing on market opportunities while searching for a new CFO.

Positive

• John Toth's leadership during the company's transition to a public entity has been recognized as invaluable.
• BARK is well-positioned to capitalize on substantial market opportunities.

Negative

• None.

Current CFO, John Toth, Announces He Will be Stepping Down and Will Remain in Role Until Successor is Named to Ensure Smooth Transition

NEW YORK--(BUSINESS WIRE)-- The Original BARK Company (“BARK” or the “Company”) (NYSE:BARK) today announced that Chief Financial Officer John Toth will step down from his position to spend more time with his family on the West Coast. BARK has retained an executive search firm to assist the Company’s board of directors with identifying a new Chief Financial Officer. John will continue in his role to ensure a smooth and constructive transition to his successor.

“John’s financial stewardship over the past six years and leadership during our transition to a public company has been invaluable. He has developed a world-class financial reporting infrastructure from which we will benefit for years to come. On behalf of the Board and Company, I thank John for his years of service and many contributions to BARK’s success and wish him the best,” said Manish Joneja, Chief Executive Officer of BARK.

“It has been a privilege to work alongside BARK’s visionary founders and management team. The Company is strongly positioned to capitalize on the immense market opportunity ahead and I am committed to BARK’s long-term success and making this transition as smooth as possible,” said Toth. “I am proud of what we have achieved, and I look forward to following BARK’s continued success.”

About BARK

BARK is the world's most dog-centric company, devoted to making dogs happy with the best products, services and content. BARK's dog-obsessed team applies its unique, data-driven understanding of what makes each dog special to design playstyle-specific toys, wildly satisfying treats and wellness supplements, and dog-first experiences that foster the health and happiness of dogs everywhere. Founded in 2012, BARK loyally serves dogs nationwide with monthly subscription services, BarkBox and Super Chewer; a curated e-commerce experience on BARKShop.com; custom collections via its retail partner network, including Target and Amazon; wellness products that meet your dogs' needs with BARK Bright; and a personalized meal delivery service for dogs BARK Eats. At BARK, we want to be the people our dogs think we are and promise to be their voice until every dog reaches its full tail-wagging potential. Sniff around at bark.co for more information.

Cautionary Statement Regarding Forward Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding BARK’s search for a new CFO and plans for a smooth and constructive transition, and BARK’s future plans and offerings.

These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of BARK’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of BARK. Some important factors that could cause actual results to differ materially from those in any forward-looking statements could include changes in domestic and foreign business, market, financial, political and legal conditions. These forward-looking statements are subject to a number of risks and uncertainties, including, among others: BARK’s ability to retain key personnel; the risk that spending on pets may not increase at projected rates; that BARK subscriptions may not increase their spending with BARK; BARK’s ability to continue to convert social media followers and contacts into customers; BARK’s ability to successfully expand its product lines and channel distribution; competition; the uncertain effects of the COVID-19 pandemic; and those factors discussed in documents of BARK filed, or to be filed, with SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that BARK presently does not know or that BARK currently believes is immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

In addition, forward-looking statements reflect BARK’s expectations, plans or forecasts of future events and views as of the date of this press release. BARK anticipates that subsequent events and developments will cause BARK’s assessments to change. However, while BARK may elect to update these forward-looking statements at some point in the future, BARK specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing BARK’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210916005266/en/

Investors:

Michael Mougias

investors@barkbox.com



Media:

Garland Harwood

press@barkbox.com

Source: The Original BARK Company

FAQ

What prompted John Toth's departure from BARK?

John Toth is stepping down to spend more time with his family on the West Coast.

How will BARK transition after John Toth's resignation?

BARK has retained an executive search firm to assist in finding a new CFO while Toth remains in his role until a successor is named.

What has been said about John Toth's contributions to BARK?

CEO Manish Joneja commended Toth for his financial stewardship and leadership during BARK's transition to a public company.

What is the stock symbol for The Original BARK Company?

The stock symbol for The Original BARK Company is BARK.

What are BARK's plans for future growth?

BARK aims to capitalize on significant market opportunities while continuing to expand its product offerings.