Pyxus International Announces Changes to its Board of Directors

Rhea-AI Summary

Pyxus International, Inc. (PYYX) announced a change in its Board of Directors, with Holly Kim resigning and Jamie J. Ashton appointed effective October 19, 2022. Ashton, a Senior Vice President at Glendon Capital Management, is a significant shareholder and will serve on the Audit and Compensation Committees. President Pieter Sikkel expressed gratitude for Kim's contributions to the company's strategy and steady performance. The transition aims to enhance board effectiveness while leveraging Ashton's familiarity with the company.

Positive

• Jamie J. Ashton brings valuable experience as a Senior Vice President of Glendon Capital Management, strengthening board leadership.
• Ashton has a deep familiarity with the company, potentially ensuring continuity in strategic initiatives.

Negative

• Holly Kim's resignation may raise concerns over continuity in strategic direction.

MORRISVILLE, N.C., Oct. 20, 2022 /PRNewswire/ -- Pyxus International, Inc. (OTC Pink: PYYX) ("Pyxus" or the "Company"), a global value-added agricultural company, today announced the resignation of Holly Kim, a Partner of Glendon Capital Management, L.P., from its Board of Directors and the appointment of Jamie J. Ashton to the Board, effective October 19, 2022. Ashton has been appointed to serve as a member of the Audit and Compensation Committees of the Company's Board of Directors.  

Ashton serves as a Senior Vice President of Glendon Capital Management, L.P., which together with its affiliates is a significant shareholder of Pyxus. 

"On behalf of the Company's Board of Directors, I thank Ms. Kim for her dedicated service to our company," said Pyxus President and CEO Pieter Sikkel. "She was an active advisor in redefining the Company's strategy, and her valuable guidance has significantly contributed to our steady business performance over the past two years."

"I am pleased to welcome Mr. Ashton to the Board," added Sikkel. "As a close colleague of Ms. Kim's, Mr. Ashton has a deep familiarity with our Company and we look forward to his direct contributions to our Board."

About Pyxus International, Inc.
Pyxus International, Inc. is a global agricultural company with nearly 150 years' 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/pyxus-international-announces-changes-to-its-board-of-directors-301655521.html

SOURCE Pyxus International, Inc.

FAQ

Who has been appointed to the Board of Pyxus International?

Jamie J. Ashton has been appointed to the Board, effective October 19, 2022.

What position did Holly Kim hold at Pyxus International?

Holly Kim was a Partner at Glendon Capital Management and a member of the Board of Directors.

What committees will Jamie J. Ashton serve on at Pyxus International?

Jamie J. Ashton will serve on the Audit and Compensation Committees of the Board.

What is the significance of Jamie J. Ashton's appointment?

Ashton's appointment is significant as he is familiar with the company and is a significant shareholder, potentially enhancing board decisions.

Why did Holly Kim resign from Pyxus International's Board?

The press release does not specify the reasons for Holly Kim's resignation.