Humble & Fume Announces Chief Executive Officer (CEO) Transition

Rhea-AI Summary

Humble & Fume Inc. announced a leadership transition with Jakob Ripshtein becoming the Chief Executive Officer effective January 13, 2023. He takes over from Joel Toguri, who left to pursue other career opportunities. Ripshtein, with over 30 years of experience in the cannabis industry, previously led Aphria Inc. and Diageo Canada. He aims to strengthen brand partnerships and expand the company's distribution network in North America. The company is a major cannabis and accessories distributor, leveraging data-driven insights and a robust fulfillment infrastructure.

Positive

• Jakob Ripshtein appointed CEO, bringing over 30 years of experience.
• Focus on strengthening brand partnerships and expanding distribution network.
• Established company with a proven track record in cannabis distribution.

Negative

• Joel Toguri's departure may create leadership uncertainty.
• Transition of management may disrupt ongoing initiatives.

TORONTO, Jan. 12, 2023 /PRNewswire/ - Humble & Fume Inc. (CSE: HMBL) (OTCQX: HUMBF) ("Humble" or the "Company"), a leading North American distributor of cannabis and cannabis accessories, supported by a customer-centric sales team and robust fulfillment infrastructure, today announced that current Chairman of the Board Jakob Ripshtein has been appointed Chief Executive Officer effective January 13, 2023. He replaces Joel Toguri, who is stepping down as Chief Executive Officer to pursue other career opportunities.

"On behalf of the entire Humble team, we want to thank Joel for his commitment to the organization and his efforts over the past eighteen months to right-size our business," commented Board Member Shawn Dym. "We are very fortunate to have Jakob Ripshtein step in and assume the role of CEO. He is a proven leader with deep expertise in developing a high-performance culture and delivering results."

Mr. Ripshtein brings over thirty years of experience leading corporate strategy, marketing, and sales and a deep understanding of the cannabis industry. He previously served as the President of Aphria Inc., which was acquired by Tilray Brands Inc. Before that, he was President of Diageo Canada, where he oversaw significant growth, which led to him being named CFO of North America.

Mr. Ripshtein commented, "I am looking forward to leading this organization as we focus on strengthening our relationships with our current brand partners, onboarding brands that satisfy consumer needs, and expanding our distribution network across emerging North American markets." 

Mr. Ripshtein will assume the CEO role in addition to his current role as Chairman of the Board. 

About Humble & Fume Inc.

Humble & Fume Inc. is a leading North American distributor of cannabis and cannabis accessories. Humble is committed to our brand and retail partners to help grow their businesses by providing data-driven insights, proven go-to-market expertise and best-in-class distribution for cannabis and cannabis accessories. As the only fully-integrated cannabis distribution solution, Humble bridges the gap for retailers, Canadian licensed producers, American multi-state operators, and cannabis customers increasing sales penetration to maximize financial performance. With over 20 years of North American operating experience, Humble has cultivated extensive vendor and customer relationships distributing premium cannabis consumables and consumption devices. The Company is comprised of Humble+Fume / B.O.B. Headquarters Inc. , Windship Trading LLC, and Humble Cannabis Solutions.

View original content:https://www.prnewswire.com/news-releases/humble--fume-announces-chief-executive-officer-ceo-transition-301720845.html

SOURCE Humble & Fume Inc.

FAQ

Who is the new CEO of Humble & Fume?

Jakob Ripshtein has been appointed as the new CEO of Humble & Fume effective January 13, 2023.

Why did Joel Toguri step down as CEO of HUMBF?

Joel Toguri stepped down to pursue other career opportunities after leading the company for eighteen months.

What experience does Jakob Ripshtein have in the cannabis industry?

Jakob Ripshtein has over 30 years of experience, having previously served as President of Aphria Inc. and Diageo Canada.

What are the goals of the new CEO of HUMBF?

Jakob Ripshtein aims to strengthen brand partnerships and expand the distribution network across North America.

What impact does the CEO transition have on HUMBF?

The transition may create uncertainty and could disrupt ongoing initiatives, although it aims to strengthen the company's market position.