CCA INDUSTRIES, INC. ANNOUNCES APPOINTMENT OF CHRISTOPHER DOMINELLO AS CHIEF EXECUTIVE OFFICER

Rhea-AI Summary

CCA Industries, Inc. (OTC: CAWW) has appointed Christopher Dominello as its new Chief Executive Officer, while Lance Funston continues as Chairman of the Board. The board has decided to terminate its engagement with Janney Montgomery Scott LLC. Funston expressed optimism about the company's future, emphasizing a focus on growing sales and reducing expenses. Dominello brings extensive experience, having previously revitalized brands at Ducere Pharma, leading to a significant increase in sales and distribution. CCA aims to enhance shareholder value amid challenging market conditions.

Positive

• Appointment of Christopher Dominello as CEO may bring fresh leadership and innovative strategies.
• Dominello's prior success, including a 170% increase in organic sales at Ducere Pharma, suggests potential for growth.

Negative

• Termination of engagement with Janney Montgomery Scott LLC raises concerns about strategic financial guidance.
• Leadership transition may create short-term uncertainty in company's direction and execution.

PENN VALLEY, Pa., Dec. 16, 2021 /PRNewswire/ -- CCA Industries, Inc. (OTC: "CAWW"), announced that the board of directors has appointed Christopher Dominello as Chief Executive Officer of the Company.  Lance Funston will remain as Chairman of the Board. The board of directors also decided to end the engagement with Janney Montgomery Scott LLC. 

Lance Funston, Chairman of the Board stated, "After discussions with interested financial and strategic investors, it was clear that the Company could achieve better future value for our shareholders by waiting at this time, while working diligently to both grow sales and lower expenses.  I am confident that under the leadership of Chris Dominello the Company will be able to achieve both objectives."

Christopher Dominello, Chief Executive Officer stated, "I look forward to working to increase shareholder value in this challenging environment and build off the successes that Lance has achieved.  CCA has good brands, and we will look to expand our platform."

Prior to joining CCA Industries, Christopher Dominello had served as President and CEO of Ducere Pharma, LLC., where he successfully revitalized iconic brands to include Doan's®, Bufferin®, and Cruex®. Within two years, he progressed to more than 40,000 points of distribution across the portfolio and increasing organic sales by 170%.  His strategy led to Ducere's acquisition, providing investors with a 200% ROI.  Before joining Ducere, Dominello held executive level positions at both Ultimark Products and Nutrisystem Inc. At Ultimark, as CEO, he helped raise $15.0M+ in Private Placement to further the company's acquisition goal, leading to four acquisitions within his first year (including Prell® Shampoo, Denorex® Shampoo, and others). He also increased revenue by 200% for the company's garden division by securing placement at The Home Depot. During his eight-year tenure at Nutrisystem, Dominello successfully launched the brand internationally, and was a key member of the executive team that brought sales from $20M to $778M.  Prior to that Dominello worked for Arthur Andersen in their Enterprise Division focusing on startups and turnarounds.  Dominello received a Bachelor of Science Degree in Accounting from the University of Notre Dame's Mendoza College of Business. He also served as Captain in the United States Air Force where he received the USAF Commendation Medal for preparing to support wartime contingency operations.

About CCA Industries, Inc.
CCA Industries, Inc. manufactures and markets health and beauty aids, each under its individual brand name. The products include, principally, "Plus White" toothpastes and teeth whiteners, "Bikini Zone" medicated topical and shave gels, "Nutra Nail" nail care treatments, "Porcelana" skin care products, "Scar Zone" scar treatment products, "Sudden Change" anti-aging skin care products and two newly acquired brands, "Hair Off" and "Solar Sense". 

Statements contained in the news release that are not historical facts are forward looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which would cause actual results to differ materially, from estimated results. Such risks and uncertainties are detailed in the Company's past filings with the Securities and Exchange Commission. No assurance can be given that the results in any forward-looking statement will be achieved and actual results could be affected by one or more factors, which could cause them to differ materially. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act.

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SOURCE CCA Industries, Inc.

FAQ

Who is the new CEO of CCA Industries as of December 2021?

Christopher Dominello has been appointed as the new CEO of CCA Industries, Inc.

What changes occurred in the board of directors of CCA Industries?

Lance Funston remains as Chairman, while Christopher Dominello has taken over as CEO.

What is the significance of Christopher Dominello's appointment for CCA Industries?

His appointment is seen as a potential positive shift aimed at increasing shareholder value and enhancing business performance.

Why did CCA Industries end its engagement with Janney Montgomery Scott LLC?

The board concluded that it could achieve better future value for shareholders by terminating the engagement.