HERBL, California's Largest Cannabis Distributor and Supply Chain Solutions Company, Appoints Mark Shamber as Chief Financial Officer

Rhea-AI Summary

HERBL, California's largest cannabis distributor, has appointed Mark Shamber as Chief Financial Officer (CFO). With over 30 years of finance experience, including positions at SpartanNash and United Natural Foods, Shamber is set to enhance HERBL's financial strategies and oversee long-term planning. CEO Mike Beaudry highlighted the importance of Shamber's expertise during a growth phase for the cannabis market. Shamber expressed enthusiasm about shaping industry standards in the cannabis supply chain and improving consumer experiences.

Positive

• Appointment of a highly experienced CFO with a strong background in finance and M&A.
• Expectations for improved financial strategy and business performance as the cannabis market evolves.
• Shamber's history of developing corporate strategies to enhance growth prospects.

Negative

• Transitioning leadership may create temporary disruption in financial operations.

SANTA BARBARA, Calif., May 3, 2021 /PRNewswire/ -- HERBL, California's largest cannabis distributor and supply chain solutions company, announced today it has appointed Mark Shamber as Chief Financial Officer (CFO). Mr. Shamber joins the company with over three decades of finance experience in the food and grocery supply chain industry. As CFO, he will execute the company's financial strategy, identify investment and M&A opportunities, lead the finance and accounting department and oversee long-term business and financial planning.

Prior to HERBL, Mr. Shamber was the Chief Financial Officer at SpartanNash (NASDAQ: SPTN), a leading national grocery distributor and retailer, where he oversaw finance, M&A, treasury, internal audit, real estate and risk management for the company. Mr. Shamber has also served as the Senior Vice President, Chief Financial Officer and Treasurer at United Natural Foods, Inc. (UNFI), the largest specialty and organic food distributor in North America. He started his career in the audit practice of Ernst & Young LLP and in the finance department of Reebok International Ltd.

"HERBL is at a distinct growth stage as the cannabis market matures, and Mark's reputation of developing and executing corporate strategy to improve business performance will be invaluable to our company," said Mike Beaudry, CEO of HERBL. "We look forward to tapping into Mark's expertise in fundraising, investor relations and scaling as we pursue new business opportunities."

"What excites me the most about HERBL, and the cannabis space as a whole, is the opportunity to create new industry standards not only in the supply chain, but also for consumer and retail experiences," said Mr. Shamber. "Legal cannabis is on the cusp of becoming a truly established CPG ecosystem, and I look forward to working with the HERBL team to help the industry reach its full potential."

About HERBL
HERBL is California's largest cannabis supply chain company servicing more than 850 storefront and non-storefront retail licensees. Founded in 2016, HERBL brings the state's top cannabis retailers and best-selling brands together through innovative technology, unparalleled service, dedicated sales team, and high-security, state-of-the-art facilities and fleet. HERBL's team consists of a strong mix of legacy cannabis operators and entrepreneurs alongside distribution and retail experts with extensive experience in large-scale global supply chains. Exclusive brand partners include the #1 selling flower, vape, and concentrate brands. To learn more, visit www.HERBL.com or follow us on Instagram, LinkedIn, Facebook or Twitter.

Media Contact
Noah Bethke
MATTIO Communications
herbl@mattio.com

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SOURCE HERBL

FAQ

Who is the new CFO of HERBL?

Mark Shamber has been appointed as the new Chief Financial Officer of HERBL.

What experience does Mark Shamber bring to HERBL?

Mark Shamber has over 30 years of finance experience, previously serving as CFO at SpartanNash and United Natural Foods.

When was Mark Shamber appointed CFO of HERBL?

Mark Shamber was appointed CFO of HERBL on May 3, 2021.

What is the focus of HERBL's new CFO?

Mark Shamber will focus on executing financial strategies, identifying investment opportunities, and overseeing long-term business planning.

How could Mark Shamber's appointment impact HERBL?

His experience in finance and M&A may enhance HERBL's growth prospects and improve business performance.