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ChromaDex Appoints Ann Cohen and Kristin Patrick to its Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
ChromaDex Corp. (NASDAQ: CDXC) has appointed two new Board members: Kristin Patrick, Chief Marketing Officer of Claire's Inc., and Ann Cohen, CFO of The Institute of Internal Auditors. Patrick has extensive experience in brand strategy from companies like PepsiCo and Playboy, while Cohen brings significant financial expertise from Taylor Morrison Homes and Starwood Vacation Ownership. The company expresses gratitude to departing Board members Jeff Baxter and Caroline Levy, and notes that Kurt Gustafson and Steve Block will not seek re-election at the upcoming annual meeting in June 2022.
Positive
Appointment of Kristin Patrick enhances brand strategy expertise.
Ann Cohen's financial leadership strengthens fiscal oversight.
Negative
Resignation of experienced Board members could impact continuity.
Potential experience gaps with the departure of seasoned executives.
LOS ANGELES--(BUSINESS WIRE)--
ChromaDex Corp. (NASDAQ: CDXC) today announced that it has appointed two new members to its Board of Directors: Kristin Patrick, Executive Vice President and Chief Marketing Officer of Claire's Inc., and Ann Cohen, Executive Vice President and Chief Financial Officer of The Institute of Internal Auditors (The IIA).
“We welcome Ms. Patrick and Ms. Cohen to our distinguished ChromaDex Board of Directors,” said Rob Fried, CEO of ChromaDex. “Ms. Patrick has overseen some of the world’s most recognizable and respected consumer brands, and Ms. Cohen is an executive with significant financial expertise and of strong personal integrity. We are excited and honored to be working with them both.”
As the Executive Vice President and Chief Marketing Officer at Claire’s Inc., Ms. Patrick is part of the executive team leading the transformation of the youth culture brand. Prior to joining Claire’s Inc., Ms. Patrick was the Senior Vice President and Chief Marketing Officer of Brand Strategy & Development at PepsiCo where she was responsible for long-term brand vision across the PepsiCo portfolio. Additionally, as the Chief Marketing Officer at Playboy Enterprises, Ms. Patrick was responsible for ushering the brand into a new era and rebuilding relevancy including developing the brand architecture, positioning, and implementing a new business strategy across all businesses.
Ms. Patrick’s 20+ year career spans multiple industries such as fashion, omnichannel retail, entertainment, Consumer Packaged Goods, beauty and includes expertise across food, drug, convenience mass, luxury, mid-tier and Direct to Consumer channels. In addition to Claire’s Inc., PepsiCo and Playboy Enterprises, she has held positions at Disney, Calvin Klein, Gap, Inc., Revlon, and Liz Claiborne. Ms. Patrick has developed a distinguished reputation for being a disruptive, trend-setting brand steward, general manager, and strategist.
At The IIA, Ms. Cohen oversees all financial, risk management, and information technology and is both a Certified Public Accountant (Florida) and a Certified Global Management Accountant. Prior to joining The IIA, Ms. Cohen served in senior financial leadership roles for both public and private companies including Taylor Morrison Homes (formerly Taylor Woodrow), a $2.5 billion international residential home builder, and Starwood Vacation Ownership, a $600 million international division of Starwood Hotels and Resorts.
In her career, Ms. Cohen has overseen financial reporting under Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), business planning and analysis, financial and operational strategies, human resources, information technology, enterprise risk management, the acquisition and disposition of projects, and regulatory reporting including SEC reporting. Ms. Cohen has also worked closely with various public accounting firms and audit committees.
Jeff Baxter and Caroline Levy resigned from the Board, and Kurt Gustafson and Steve Block will not seek re-election to the Board at the Company’s annual meeting for stockholders, expected to be held in June 2022. ChromaDex thanks them all for their valuable contributions.
ChromaDex Corp. is a global bioscience company dedicated to healthy aging. The ChromaDex team, which includes world-renowned scientists, is pioneering research on nicotinamide adenine dinucleotide (NAD+), levels of which decline with age. ChromaDex is the innovator behind NAD+ precursor nicotinamide riboside (NR), commercialized as the flagship ingredient Niagen®. Nicotinamide riboside and other NAD+ precursors are protected by ChromaDex’s patent portfolio. ChromaDex maintains a website at www.chromadex.com to which ChromaDex regularly posts copies of its press releases as well as additional and financial information about the Company.
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, including statements related to the Company’s domestic and international growth strategies and expected timing of the annual meeting of stockholders. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as "expects," "anticipates," "intends," "estimates," "plans," "potential," "possible," "probable," "believes," "seeks," "may," "will," "should," "could" or the negative of such terms or other similar expressions. Risks that contribute to the uncertain nature of these forward-looking statements include the impact of the COVID-19 pandemic on our business and the global economy; our history of operating losses and need to obtain additional financing; the growth and profitability of our product sales; our ability to maintain sales, marketing and distribution capabilities; changing consumer perceptions of our products; our reliance on a single or limited number of third-party suppliers; and the risks and uncertainties associated with our business and financial condition. More detailed information about ChromaDex and the risk factors that may affect the realization of forward-looking statements is set forth in ChromaDex's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, ChromaDex's Quarterly Reports on Form 10-Q and other filings submitted by ChromaDex to the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and actual results may differ materially from those suggested by these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement and ChromaDex undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.
