MamaMancini’s Appoints Adam L. Michaels as Chairman of the Board of Directors

Rhea-AI Summary

MamaMancini's Holdings, Inc. (NASDAQ: MMMB) announces the retirement of Carl Wolf from its Board, effective February 1, 2023. Wolf served as Chairman and CEO from 2010 to 2022, transitioning to Chairman of the Board until his retirement. Under his leadership, the company grew significantly in the deli prepared foods sector. Adam L. Michaels, CEO, will assume the role of Chairman, emphasizing confidence in the team's ability to drive future success. This leadership change may signal fresh perspectives for the company, which is known for its extensive product offerings in grocery and convenience stores.

Positive

• Adam L. Michaels' appointment as Chairman may bring new leadership perspectives.
• The company continues to experience revenue growth and profitability under Michaels' leadership.

Negative

• Carl Wolf's departure may raise concerns about continuity and experience within the leadership team.

Carl Wolf to Retire from the MamaMancini’s Board

EAST RUTHERFORD, NJ, Feb. 01, 2023 (GLOBE NEWSWIRE) -- MamaMancini's Holdings, Inc. (NASDAQ: MMMB), a leading national marketer and manufacturer of fresh Deli prepared foods, today announced the appointment of CEO Adam L. Michaels as Chairman, effective February 1, 2023, concurrent with the retirement of Carl Wolf.

Mr. Wolf served as Chairman and Chief Executive Officer of MamaMancini’s from 2010 until retiring from the position in 2022. Since then, he has continued to serve as Chairman of the Board, providing guidance and leadership leveraging over 40 years of experience in the food industry.

“For more than a decade, Carl’s contributions to MamaMancini’s have been instrumental – successfully driving the company from its early stages growth into a leading national marketer and manufacturer of deli prepared foods,” said Adam L. Michaels, Chairman and CEO of MamaMancini’s. “His retirement marks the end of a remarkable career in the food industry, building out the product lines and distribution for the first-of-kind national deli solutions company we have today. On behalf of the Board, I would like to sincerely thank Carl for his years of service. I wish him and his family all the best following his retirement.”

Wolf concluded, “It has truly been a great honor and privilege to serve as the Chairman of MamaMancini’s – I am confident in the strong team we have assembled to succeed me. Since his appointment as CEO, Adam has proven his ability to lead with record revenue growth and a return to sustainable profitability. As I turn 80 years old this year, I felt that with an incredible team in place, it was time to step back from the business and begin to enjoy retirement. I would like to offer my sincere thanks to all of our employees, whose hard work and dedication have allowed us to accomplish so much.”

About MamaMancini’s Holdings, Inc.

MamaMancini's Holdings, Inc. (NASDAQ: MMMB) is a leading marketer and manufacturer of prepared foods with over 45,000 product placements in grocery, mass, club and convenience stores nationally. The Company’s broad product portfolio, born from a rich history in Italian foods, now consists of a variety of high quality, fresh, clean and easy to prepare foods to address the needs of both our consumers and retailers. Our vision is to become a one-stop-shop deli solutions platform, leveraging vertical integration and a diverse family of brands to offer a wide array of prepared foods to meet the changing demands of the modern consumer. For more information, please visit www.mamamancinis.com.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's 10-K for the fiscal year ended January 31, 2022 and other filings made by the Company with the Securities and Exchange Commission.

Investor Relations Contact:
Lucas A. Zimmerman
Director
MZ Group - MZ North America
(949) 259-4987
MMMB@mzgroup.us
www.mzgroup.us

FAQ

What leadership changes occurred at MamaMancini's on February 1, 2023?

On February 1, 2023, Adam L. Michaels was appointed Chairman of MamaMancini's Holdings, Inc. following the retirement of Carl Wolf.

How long did Carl Wolf serve as Chairman and CEO of MamaMancini's?

Carl Wolf served as Chairman and CEO of MamaMancini's from 2010 until his retirement in 2022.

What impact could the leadership change have on MMMB's future?

The leadership change could bring fresh perspectives and continued growth as Adam L. Michaels has demonstrated effective leadership and record revenue growth.

Who is succeeding Carl Wolf as Chairman of MamaMancini's?

Adam L. Michaels is succeeding Carl Wolf as Chairman of MamaMancini's Holdings, Inc.

What was Carl Wolf's contribution to MamaMancini's?

Carl Wolf was instrumental in driving the company's growth and establishing it as a national leader in deli prepared foods.