1847 Appoints Glyn C. Milburn as Vice President of Operations

Rhea-AI Summary

1847 Holdings LLC (NYSE American:EFSH) has appointed Glyn C. Milburn as Vice President of Operations, following the resignation of Eric VanDam, who left for personal reasons. Milburn, a board member since August 2022, brings significant experience from prior roles including Director at Ygrene Energy Fund and partner at Jimmy Blackman & Associates. CEO Ellery W. Roberts expressed confidence in Milburn's ability to drive growth and maintain the company's strategic direction. 1847 Holdings focuses on acquiring lower-middle market businesses, aiming to enhance their value for dividends and potential future sales or IPOs.

Positive

• Glyn C. Milburn's appointment is expected to provide fresh perspectives and drive operational growth.
• Milburn's background aligns well with the company's strategic objectives and growth initiatives.

Negative

• Eric VanDam's departure may raise concerns regarding leadership continuity and experience gaps in the operational team.

NEW YORK, NY / ACCESSWIRE / February 24, 2023 / 1847 Holdings LLC ("1847" or the "Company") (NYSE American:EFSH), a unique holding company that combines the attractive attributes of owning private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced that it has appointed Glyn C. Milburn as Vice President of Operations. Additionally, the Company announced that Eric VanDam resigned from his position as Chief Operating Officer to pursue an opportunity closer to where he resides in Michigan and not due to any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

Mr. Milburn has been a member of 1847's board of directors since August 2022. Since January 2021, Mr. Milburn has served as a Director at Ygrene Energy Fund, a consumer finance company based in California. From February 2016 to January 2021, Mr. Milburn served as a partner at Jimmy Blackman & Associates, a full-service government and public affairs firm, where he was responsible for business strategy, client management, communications and campaign management for a client portfolio comprised of large public safety labor unions, banking/finance companies, and hotel operators across the state of California. From April 2013 to January 2016, Mr. Milburn served as a special assistant in the city of Los Angeles where he held two positions in the city of Los Angeles, one in the office of Los Angeles Mayor Eric Garcetti's Office of Economic Development and another in the office of Los Angeles Councilman Dennis Zine. From August 2012 to March 2013, Mr. Milburn co-founded Provident Investment Advisors LLC, a special investment vehicle for energy, technology and healthcare ventures, where he served as managing member. Mr. Milburn also serves on the board of directors of Polished.com Inc. Mr. Milburn holds a B.A. degree in Public Policy from Stanford University and an M.B.A. from the Kelley School of Business at Indiana University.

Mr. Ellery W. Roberts, CEO of 1847, commented, "As a board member of the company, Glyn has helped oversee the strategic direction of the company. He brings an impressive background and vision that is closely aligned with the objectives of the Company. I am extremely confident in both his operational abilities, as well as the near and long-term outlook for the business. We would also like to express our sincere gratitude to Eric VanDam for his significant contributions and outstanding leadership he provided to 1847. Eric helped to shape 1847 into a stronger, more efficient company, helping to lead several important transactions that have positioned us well to continue our growth journey. We wish him well in his future endeavors. This is a very exciting time for 1847 and we look forward to providing additional details on our ongoing strategic initiatives in the coming months."

"1847 has built a highly scalable business model, targeting accretive and cash flow positive companies," said Mr. Milburn. "I look forward to working closely with the executive team to accelerate the Company's growth and success."

About 1847 Holdings LLC

1847 Holdings LLC (NYSE American:EFSH), a publicly traded diversified acquisition holding company, was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue, and Principal of Lazard Freres Strategic Realty Investors. 1847 Holdings' investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business. Given this dynamic, 1847 Holdings can consistently acquire businesses it views as "solid" for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to 1847 Holdings' ability to pay regular and special dividends to shareholders. For more information, visitwww.1847holdings.com.

For the latest insights, follow 1847 on Twitter.

Forward-Looking Statements

This press release may contain information about 1847 Holdings' view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management's beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in "Risk Factors" included in our SEC filings.

Contact:

Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: EFSH@crescendo-ir.com

SOURCE: 1847 Holdings LLC

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FAQ

What led to the appointment of Glyn C. Milburn as Vice President of Operations at EFSH?

Glyn C. Milburn was appointed following Eric VanDam's resignation to pursue another opportunity, with no reported disagreements with the company.

What experience does Glyn C. Milburn bring to EFSH?

Milburn has extensive experience from his roles at Ygrene Energy Fund and as a partner at Jimmy Blackman & Associates, along with his service on the board of 1847 Holdings.

How might Glyn C. Milburn's leadership affect EFSH's growth?

Milburn's strategic vision and operational expertise are expected to accelerate the company's growth and improve its business model.

When did Eric VanDam resign from his position at EFSH?

Eric VanDam resigned from his role as Chief Operating Officer on February 24, 2023.

What is the business focus of 1847 Holdings LLC?

1847 Holdings focuses on acquiring lower-middle market businesses and enhancing their operations to improve cash flow and value for potential dividends.