Pyxus International Announces Retirement of Chief Financial Officer

Rhea-AI Summary

Pyxus International (OTC Pink: PYYX) announced the retirement of Joel L. Thomas, CFO, effective upon the appointment of a successor. Thomas will serve as a strategic advisor until his full retirement by June 30, 2022. He has been with the company for 16 years, including 7 years as CFO, and played a crucial role in guiding the company through restructuring during the COVID-19 pandemic. The search for his successor is currently underway, with the company expressing gratitude for Thomas's contributions.

Positive

• Joel L. Thomas has successfully navigated the company through COVID-19 and restructuring efforts.
• Thomas contributed 16 years of service, including critical financial leadership as CFO.

Negative

• The announcement of a leadership change may create uncertainty among investors.

MORRISVILLE, N.C., June 30, 2021 /PRNewswire/ -- Pyxus International, Inc. (OTC Pink: PYYX) ("Pyxus" or the "Company"), a global value-added agricultural company, today announced that Joel L. Thomas will be retiring from his position as Executive Vice President and Chief Financial Officer (CFO), upon the appointment of his successor. Thereafter, Thomas will continue to serve as a strategic advisor to facilitate the transition of his responsibilities until he retires from that position on or before June 30, 2022. The Company has initiated an executive search for Thomas' successor.

"On behalf of Pyxus and the Board of Directors, I would like to thank Joel for his dedication and contributions to the Company," said Pieter Sikkel, President and CEO of Pyxus International. "Throughout his time with the Company, Joel has provided financial leadership and implemented innovative financing structures to meet our evolving global requirements. His leadership and dedication were critical over the past year as we navigated the impact of the COVID-19 pandemic and implemented significant restructuring efforts that have positioned our business for long-term success. Joel's passion for the business, our shareholders, our employees and our customers is evident to anyone who interacts with him, and I wish him all the best in the next chapter of his journey."

Thomas has spent the past 16 years of his career with the Company, including serving the last seven years as CFO.  

"It has been a privilege to work and serve alongside our talented global team," said Thomas. "I'm proud of the steps we have taken to create a solid foundation for the Company that will enable it to achieve long-term success." 

About Pyxus International, Inc.
Pyxus International, Inc. is a global agricultural company with more than 145 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:https://www.prnewswire.com/news-releases/pyxus-international-announces-retirement-of-chief-financial-officer-301322666.html

SOURCE Pyxus International, Inc.

FAQ

What is the reason for Joel L. Thomas's retirement from Pyxus International?

Joel L. Thomas is retiring as CFO to facilitate leadership transition.

When will Joel L. Thomas completely retire from Pyxus International?

He will fully retire by June 30, 2022.

What position did Joel L. Thomas hold at Pyxus International?

He served as Executive Vice President and Chief Financial Officer (CFO).

How long did Joel L. Thomas work for Pyxus International?

Thomas worked for Pyxus for 16 years, including 7 years as CFO.

What is the current status of the search for a new CFO at Pyxus International?

The company has initiated an executive search for Thomas's successor.