Pyxus International Announces Changes to Board of Directors

Rhea-AI Summary

Pyxus International (OTC Pink: PYYX) announced the resignation of Board Member Patrick B. Fallon and the appointment of John S. Alphin and Patrick J. Bartels, Jr. on January 18, 2023. This change increases the Board's total members from six to seven. President and CEO Pieter Sikkel acknowledged Fallon's contributions and welcomed the new directors, highlighting their experience in strategy, governance, and financial sectors. Alphin has 24 years in the tobacco industry, while Bartels holds extensive finance and corporate governance experience. These appointments aim to accelerate business growth and enhance stakeholder value.

Positive

• Addition of experienced board members may enhance strategic direction.
• John S. Alphin's expertise in global supply chains could improve operational efficiencies.
• Patrick J. Bartels' financial background may strengthen governance and oversight.

Negative

• Departure of Patrick B. Fallon could indicate a disruption in strategic continuity.

MORRISVILLE, N.C., Jan. 23, 2023 /PRNewswire/ -- Pyxus International, Inc. (OTC Pink: PYYX) ("Pyxus" or the "Company"), a global value-added agricultural company, today announced the resignation of Patrick B. Fallon, Managing Principal of Monarch Alternative Capital LP, from its Board of Directors and the appointment of two new members of the Board, John S. Alphin and Patrick J. Bartels, Jr. effective January 18, 2023. The changes to the Board result in an increase in the total number of directors from six to seven individuals.

"On behalf of the Company's Board of Directors, I thank Mr. Fallon for his guidance in redefining the Company's strategy, helping position the business for growth and long-term success," said Pyxus President and CEO Pieter Sikkel. "I am pleased to welcome Mr. Alphin and Mr. Bartels to Pyxus' Board of Directors and look forward to their strategic direction as we work to accelerate business growth, increase stakeholder value and together grow a better world."  

Alphin has 24 years of tobacco industry experience, including serving as a Corporate Director and Head of Global Leaf Sourcing for British American Tobacco. His areas of expertise include strategy and business development, generation of sales and operational efficiencies, navigation of complex, global supply chains, and implementation of robust sustainability and corporate governance programs. Alphin will serve as a member of the Environmental, Social, Governance and Nominating Committee of Pyxus' Board of Directors.

Bartels brings more than 20 years of experience in the financial sector and currently serves as a Managing Member of Redan Advisors LLC. He previously held positions with Monarch Alternative Capital LP, Investco Ltd. and PwC. Additionally, Bartels has served as a director on numerous public and private boards and has experience in corporate governance, finance, capital markets, and mergers and acquisitions. Bartels will serve as a member of the Audit Committee and Chair of the Compensation Committee of the Company's Board of Directors.

About Pyxus International, Inc.

Pyxus International, Inc. is a global agricultural company with 150 years of experience delivering value-added products and services to businesses and customers. Driven by a united purpose—to transform people's lives, so that together we can grow a better world—Pyxus International, its subsidiaries and affiliates, are trusted providers of responsibly sourced, independently verified, sustainable, and traceable products and ingredients. For more information, visit www.pyxus.com.

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SOURCE Pyxus International, Inc.

FAQ

Who are the new members of the Board of Directors for Pyxus International?

The new members are John S. Alphin and Patrick J. Bartels, Jr.

What was the reason for Patrick B. Fallon's resignation from Pyxus International's Board?

The press release does not specify the reason for Fallon's resignation.

When were the changes to the Board of Directors at Pyxus International announced?

The changes were announced on January 23, 2023.

What experience do the new Board members of Pyxus International bring?

John S. Alphin has extensive experience in the tobacco industry, while Patrick J. Bartels has a strong background in finance and corporate governance.

How many members are currently on the Board of Directors of Pyxus International?

The total number of board members is now seven.

What positions will John S. Alphin and Patrick J. Bartels hold in the board?

Alphin will serve on the Environmental, Social, Governance and Nominating Committee, while Bartels will be on the Audit Committee and Chair of the Compensation Committee.