Seasoned business veteran Jarrett Boon steps up to the role of CEO as Brian John departs to Focus on Legacy Jupiter Wellness products.
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Insights
The appointment of Jarrett Boon as the new CEO of Safety Shot, Inc. represents a strategic move that could have significant implications for the company's future. Boon's track record with LifeLock, which achieved substantial growth and a lucrative acquisition, may suggest a potential for similar success with Safety Shot. Investors may expect that Boon's experience in scaling businesses and his expertise in sales and marketing could translate into accelerated growth for Safety Shot.
Moreover, the licensing agreement with Elite Health Partners and the spin-off of Jupiter Wellness assets could be seen as a strategic divestiture, aimed at streamlining operations and focusing on core competencies. This could potentially lead to improved financials and a more concentrated business model, which might be more attractive to investors seeking clarity and growth in specific market segments.
The financial implications of Safety Shot's CEO transition and asset realignment are multifaceted. With Boon's leadership, the company may benefit from a rejuvenated strategic vision, which could reflect positively in the stock market performance. The licensing deal and the spin-off indicate a reorganization of the company's asset portfolio, which could result in a one-time gain from the sale and possibly recurring licensing revenues.
Investors should monitor the company's next earnings report to assess the impact of these changes on its revenue and profit margins. Additionally, the market will likely look for signs of effective integration of the new leadership's strategy and any guidance updates that could signal the company's growth trajectory under Boon's helm.
From a strategic perspective, the CEO change at Safety Shot, Inc. is indicative of a pivot towards leveraging Boon's expertise in the beverage industry. This suggests the company is likely to intensify its focus on the Safety Shot product, which has been gaining traction on social media. The divestiture of the Jupiter Wellness assets could be a move to concentrate resources and management attention on scaling the Safety Shot business.
Long-term, the success of this strategy will depend on the company's ability to innovate, market effectively and compete in the beverage space. The success of this pivot will also hinge on how well the company can capitalize on social media trends and convert online buzz into sustainable sales growth.
- Boon was one of the original thought leaders and investors in LifeLock, which was subsequently acquired for
$2.3 billion . - He was the Co-Founder and CEO of GBB Drink Lab, which developed Safety Shot.
- Boon will lead the launch and growth of the Safety Shot business.
JUPITER, FL, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Safety Shot, Inc. (Nasdaq: SHOT) (the “Company), a pioneer in innovative well-being solutions, announced today that Brian John is stepping down as Chief Executive of the Company. In this transition, Jarrett Boon will be appointed as the new Chief Executive Officer.
Jarrett Boon has over 30 years of experience building successful businesses from creation to exit. He was one of the original thought leaders and investors in LifeLock, a leading identity protection provider. At LifeLock Boon applied his expertise in sales, marketing, and strategic business development to grow the company to
Brian John is leaving the Company to work with Elite Health Partners Inc., a leading provider of world-class, innovative products and services that fulfill a broad range of consumer health and beauty needs globally. Safety Shot had recently signed an agreement to license and sell its legacy Jupiter Wellness assets to Elite on February 22, 2024.
The Company’s Jupiter Wellness assets include a portfolio of over-the-counter commercialized products as well as product candidates in development for indications including skin care, hair growth, and women’s health. Safety Shot is spinning off its legacy assets from its Jupiter Wellness business to unlock value for shareholders.
"Safety Shot is an incredible product that is catching fire on social media and the internet.,” stated John. It is time to transition the Company to make room for experts in the Beverage space. I have had the pleasure working along Side Jarrett for the past 8 months and I am
“I thank Brian for the passion and commitment he has brought to Safety Shot and wish him well as he moves on to his next chapter with Elite Health Partners," commented Boon. "I am excited to take the business forward and even more excited about the tremendous potential that Safety Shot has to improve the health and well-being of millions of consumers in the growing
About Safety Shot
Safety Shot Inc., founded in 2018, is the first patented beverage that makes you feel better fast by reducing blood alcohol content and increasing mental clarity. Valued at
Forward Looking Statements
This communication contains forward-looking statements regarding Safety Shot, including, the anticipated timing of studies and the results and benefits thereof. You can generally identify forward-looking statements by the use of forward-looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “explore,” “evaluate,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” or “will,” or the negative thereof or other variations thereon or comparable terminology. These forward-looking statements are based on each of the Company’s current plans, objectives, estimates, expectations, and intentions and inherently involve significant risks and uncertainties, many of which are beyond Safety Shot’s control. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties and other risks and uncertainties affecting Safety Shot and, including those described from time to time under the caption “Risk Factors” and elsewhere in Safety Shot’s Securities and Exchange Commission (SEC) filings and reports, including Safety Shot’s Annual Report on Form 10-K for the year ended December 31, 2023 and future filings and reports by Safety Shot. Moreover, other risks and uncertainties of which the combined company is not currently aware may also affect each of the companies’ forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. Investors are cautioned that forward-looking statements are not guarantees of future performance. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements and reflect the views stated therein with respect to future events at such dates, even if they are subsequently made available by Safety Shot on its website or otherwise. Safety Shot undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made.
Investor Contact:
Phone: 561-244-7100
Email: investors@drinksafetyshot.com
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