Black Rifle Coffee Company Appoints Clayton Hutmacher and Lawrence “Chip” Molloy to its Board of Directors
Black Rifle Coffee Company (NYSE: BRCC) announced the appointment of Major General Clayton Hutmacher and Lawrence “Chip” Molloy to its Board of Directors, effective June 7, 2024.
Clayton Hutmacher is the President and CEO of the Special Operations Warrior Foundation and has extensive military leadership experience, including roles in the U.S. Special Operations community. Lawrence “Chip” Molloy brings vast financial and retail experience, having served as CFO at Sprouts Farmers Market, Under Armour, and PetSmart, among others. CEO Chris Mondzelewski believes their combined expertise will strengthen the company’s strategic execution and long-term shareholder value.
- Appointment of experienced leaders like Clayton Hutmacher and Lawrence “Chip” Molloy to the Board strengthens BRCC’s strategic and operational capabilities.
- Clayton Hutmacher’s leadership in the U.S. Special Operations community and educational nonprofit sector adds valuable perspective to BRCC.
- Lawrence “Chip” Molloy's extensive financial and retail sector experience, including CFO roles at major companies, enhances BRCC’s financial oversight.
- Effective date of June 7, 2024, ensures a timely transition and integration of new board members.
- No immediate financial data or specific strategic initiatives were disclosed, leaving potential uncertainties about immediate stock performance.
- Addition of new board members could suggest a need for significant strategic shifts, which may concern some investors.
“We are pleased to welcome Clay and Chip as new independent directors to the Black Rifle Coffee Company Board,” said Chris Mondzelewski, BRCC Chief Executive Officer. “We are unique as a company in that our service-forward mission drives our ever-expanding relationship with customers across existing and new sales channels, and – with these additions – we’ll have an even broader and more diverse cache of experience from which to gain. Drawing from past leadership roles in the public and private sector, Clay and Chip will provide invaluable perspective that will support BRCC as we continue to execute our strategy, build long-term value for our shareholders, and serve those who have served and are still serving our country.”
Major General Clay Hutmacher is the President and CEO of the Special Operations Warrior Foundation, a nonprofit organization dedicated to funding the education – from preschool through college – of the children of special operations personnel who’ve lost their lives in the line of duty as well as the children of all Medal of Honor recipients. Clay served at every level in the
Lawrence “Chip” Molloy brings extensive financial, consumer, and retail experience to the Black Rifle Board as the former CFO of numerous public consumer companies. Most recently, Chip was Chief Financial Officer of Sprouts Farmers Market Inc. (“Sprouts”) from September 2021 to December 2023. He served as director and Chair of the Audit and Compensation Committees of Sprouts’ board from 2012 to 2021 and Interim Chief Financial Officer of Sprouts from June 2019 to February 2020. Prior to Sprouts, Chip served as Interim Chief Executive Officer at Torrid and as the Chief Financial Officer for both Under Armour and PetSmart. During his tenure at PetSmart, he was named Institutional Investor’s CFO of the Year for Specialty Retail in 2011. Chip also served as a senior advisor for private equity firm Roark Capital Group and as a board director for Torrid, Wingstop, Pet Supermarket, and Party City. Chip currently serves on the boards of Sally Beauty Holdings, Inc. and Pet Valu Holdings Ltd. and as Chair of the Audit Committee for each. Prior to his business career, Chip served as a
About Black Rifle Coffee Company
Black Rifle Coffee Company (BRCC) is a Veteran-founded coffee company serving premium coffee to people who love America. Founded in 2014 by Green Beret Evan Hafer, Black Rifle develops their explosive roast profiles with the same mission focus they learned while serving in the military. BRCC is committed to supporting Veterans, active-duty military, first responders and the American way of life.
To learn more, visit www.blackriflecoffee.com, subscribe to the BRCC newsletter, or follow along on social media.
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For inquiries regarding Black Rifle Coffee Company, please contact:
Investors
Jason Martini: Jason.Martini@blackriflecoffee.com
ICR for BRCC: BlackrifleIR@icrinc.com
Source: Black Rifle Coffee Company
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