Greenlane Appoints Director Donald Hunter as Chairman of the Board

Rhea-AI Summary

Greenlane Holdings (NASDAQ:GNLN) has appointed Donald Hunter as the new Chairman of the Board, effective September 30, 2021. Hunter, an independent director, is recognized for his strong governance background and experience in corporate strategy. Former Chairman Aaron LoCascio remains on the board. This change aims to bolster corporate governance and diversity within the board while enhancing shareholder value. Hunter brings over 30 years of public company experience and has served on several audit committees, reinforcing Greenlane's commitment to operational excellence and stakeholder engagement.

Positive

• Appointment of Donald Hunter as Chairman of the Board strengthens corporate governance.
• Hunter's experience includes significant mergers and acquisitions expertise.
• Focus on improving board diversity and operational excellence.

Negative

• Potential concerns about continuity and experience gaps, with a new leadership dynamic.

Company Reaffirms Commitment to Strong Corporate Governance and Independent Board Oversight

BOCA RATON, FL / ACCESSWIRE / October 4, 2021 / Greenlane Holdings, Inc. ("Greenlane" or "the Company") (NASDAQ:GNLN), one of the largest global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, announced today the appointment of independent director Donald Hunter as Chairman of the Board, effective September 30, 2021. Aaron LoCascio, the former Chairman of the Board, will remain on the Company's Board of Directors.

Mr. Hunter's appointment reaffirms Greenlane's commitment to strong corporate governance and independent oversight.

"Over the years, Don has earned an impeccable reputation for having a strong, active, and independent voice in the boardroom," said Nick Kovacevich, Chief Executive Officer of Greenlane. "I had the pleasure of witnessing this firsthand at KushCo, and now at Greenlane following the merger, where he is eager to continue delivering his strategic insights and guidance. Appointing an independent Chairman with Don's credentials is a significant step in improving the Company's corporate governance profile. Going forward, our Board of Directors intends to continue to find ways to strengthen our corporate governance, including by seeking improvements in Board diversity-and the leadership team is thrilled that Don will be leading on this front. He understands Greenlane and the evolution of our Company and industry very well, is a seasoned board leader with significant M&A experience, and possesses a wealth of financial, strategic, operational, international and risk management expertise. We are delighted to have him in this new role as Chairman of the Board."

"It is an honor to be appointed as Chairman of the Board and to oversee a talented and engaged Board that is committed to delivering operational excellence, a best-in-class customer and consumer experience, and increasing long-term value for our shareholders," said Donald Hunter, Chairman of Greenlane. "Looking ahead, I am excited to work closely with Nick and the entire leadership team to execute on our mission of elevating all elements of the consumption experience, which should benefit all of Greenlane's stakeholders."

Mr. Hunter has more than 30 years of public company experience and has served as a board member for several public companies, including Greenlane, where he currently serves as a member of the Audit Committee and the Compensation Committee. Prior to Greenlane, Mr. Hunter served as chair of the Audit Committee at KushCo Holdings, Inc. and Juniper Pharmaceuticals (Nasdaq:JNP). He currently serves as chair of the Audit Committee at The LGL Group, Inc. (NYSE American:LGL), as well as Principal at Donald Hunter LLC. He is also an active member of the National Association of Corporate Directors.

About Greenlane Holdings, Inc.

Greenlane Holdings, Inc. (Nasdaq: GNLN) is a global house of brands and one of the largest sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products to smoke shops, dispensaries, and specialty retail stores, as well as direct to consumer through its online e-commerce platforms, Vapor.com, Higherstandards.com, Aerospaced.com, Haringglass.com, Eycemolds.com, Canada.Vapor.com, Vaposhop.com, and Puffitup.com. Founded in 2005, Greenlane serves more than 8,000 retail locations and has over 275 employees with operations in United States, Canada, and Europe. With a strong global footprint, Greenlane has been the partner of choice for many of the industry's leading brands, who chose to leverage its strong distribution platform, unparalleled customer service, and highly efficient operations and logistics to accelerate their growth. Greenlane's curated portfolio of owned brands includes EYCE, packaging innovator Pollen Gear™, VIBES™ rolling papers, Marley Natural™ Accessories; K.Haring Glass Collection, Aerospaced grinders, and Higher Standards which offers both an upscale product line as well as an innovative retail experiences with flagship stores located in Chelsea Market, New York and Malibu, California.

For additional information, please visit: https://gnln.com/.

Cautionary Statement Regarding Forward-Looking Statements

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statements. These forward-looking statements include, among others: comments relating to the current and future performance of the Company's business; the impacts of acquisitions and other similar transactions; and the Company's financial outlook and expectations. For a description of factors that may cause the Company's actual results or performance to differ from its forward-looking statements, please review the information under the heading "Risk Factors" included in the Company's most recent Annual Report on Form 10-K for the year ended December 31, 2020, the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021 and the Company's other filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Additional information is also set forth in Greenlane's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to Greenlane on the date hereof. Greenlane undertakes no duty to update this information unless required by law.

Investor Contacts
Najim Mostamand, CFA
Director of Investor Relations
714-539-7653
ir@greenlane.com

Media Contact
Mark Sinclair
Account Director, MATTIO Communications
Greenlane@mattio.com

SOURCE: Greenlane Holdings, Inc.

View source version on accesswire.com:
https://www.accesswire.com/666510/Greenlane-Appoints-Director-Donald-Hunter-as-Chairman-of-the-Board

FAQ

Who is the new Chairman of the Board for Greenlane (GNLN)?

Donald Hunter has been appointed as the new Chairman of the Board for Greenlane, effective September 30, 2021.

What are the key responsibilities of Donald Hunter as Chairman?

Donald Hunter will oversee board operations, focusing on corporate governance, operational excellence, and increasing long-term shareholder value.

How does the appointment of Donald Hunter affect Greenlane's governance?

Hunter's appointment is intended to strengthen Greenlane's corporate governance and enhance board diversity.

What is Donald Hunter's background before joining Greenlane's board?

Donald Hunter has over 30 years of public company experience and has served on various audit committees including at KushCo Holdings.