Jushi Holdings Inc. Announces Management and Board Changes

  • Leonardo Garcia-Berg Appointed Chief Operations Officer
  • Erich Mauff Stepping Down as Co-President and Board Member

BOCA RATON, Fla., June 30, 2021 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, announced the appointment of Leonardo “Leo” Garcia-Berg, a former global supply chain executive for Anheuser-Busch InBev (“AB InBev”) (Euronext: ABI) (NYSE: BUD) (MEXBOL: ANB) (JSE: ANH) as the Company’s Chief Operations Officer.

In his new role, Mr. Garcia-Berg will be responsible for driving growth strategies and efficiencies, and coaching and developing team members across the Company’s grower-processor facilities which are currently in Pennsylvania, Virginia, Nevada and Ohio. Reporting directly to Jushi’s CEO, Chairman and Founder Jim Cacioppo, Mr. Garcia-Berg will also manage the Company’s facility directors of operations, environmental health and safety, security, quality control, and procurement. Jushi will seek regulatory approval, as necessary, to effectuate Mr. Garcia-Berg’s role and responsibilities in the various jurisdictions where Jushi is, or will become, licensed as a cannabis operator.

Prior to joining Jushi, Mr. Garcia-Berg served in numerous roles at AB InBev, the world’s largest multinational brewing company. In his role as the Global Director of Value Creation Programs, Leo led strategies focused on improving manufacturing, logistics, sourcing, and operations across the company’s third-party vendors including ABI’s Vertical Operations worldwide. In addition, he introduced industrial internet of things (IIOT) technologies such as interconnected sensors, instruments and analytics to improve AB InBev’s operations, energy use and efficiencies in the company’s production sites globally. Leo also served as Director of Breweries Operations for AB InBev in Mexico overseeing AB InBev’s integration of its Modelo facilities and driving the implementation of ABI’s Operational Excellence Program. Before joining AB InBev, Mr. Garcia-Berg served as a consultant for McKinsey & Company, focusing on operational strategies, procurement, organizational transformations, along with supply chain and end-to-end process optimization solutions.

Leo’s experience working at complex, international organizations and his success across the value chain is a testament to the deep bench of talented leaders we have attracted here at Jushi,” said Jim Cacioppo, CEO, Chairman and Founder of Jushi.

Jim Cacioppo, CEO, Chairman and Founder of Jushi

As we continue to bring more high-quality products to consumers and patients at accessible price points, Leo’s experience driving operational efficiencies and transforming global supply chains of highly-regulated CPG products will help guide us through our next phase of growth.

Cacioppo added, “I’m thrilled to welcome him in his new leadership role, and I’m confident Leo’s proven track record and alignment with Jushi’s values will be instrumental in accelerating growth for our Company and shareholders.”

Cannabis is a one-of-a-kind generational opportunity, and I’m excited about the opportunity to help drive growth and operational efficiencies for Jushi as the Company continues to expand its footprint across the U.S. and in the E.U.

Leonardo Garcia-Berg

I look forward to working closely with my new colleagues as we continue to define and reshape the sector.

Originally from Buenos Aires, Mr. Garcia-Berg received his Master of Science degree in electrical engineering from Instituto Tecnológico de Buenos Aires in Argentina and earned his MBA from The Wharton School of the University of Pennsylvania.

The Company also announced today that Erich Mauff is stepping down from his role as Co-President and Director of the Board of the Company, effective July 1, 2021. Jushi has no immediate plans to fill the Co-President position and will seek to fill the vacated Board seat at the appropriate time. The transition of Mr. Mauff’s responsibilities in his Co-President’s role capacity has been underway for months. Business Development, led by Olivier Blechner, EVP of Business Development, and Investor Relations, led by Michael Perlman, EVP of Investor Relations and Treasury, will now report directly to Jim Cacioppo. Additionally, Mr. Mauff will remain on as a consultant to the Company for the next 24 months to ensure a continued smooth transition. Jon Barack will remain in his current role as President and will continue to oversee Corporate FP&A, Real Estate, Risk Management, and IT.

Mr. Cacioppo commented, “As Co-President, Board Member and Co-Founder, Erich was instrumental in building Jushi into what it is today and has helped position the Company for exponential growth in the coming years. Erich most recently led the Company through several milestones, including completing a series of equity and debt financings and helping the Company expand its footprint into Pennsylvania, Virginia, and Illinois. I want to sincerely thank Erich for all of his contributions during his tenure at Jushi and wish him the best of luck in his future endeavors.”

It’s been a great privilege to serve as Co-President and Board Member at Jushi. Since founding the Company in 2018, I am proud of all that we have accomplished and I feel very fortunate to have worked alongside Jim and Jon as we built an incredible team of talented and dedicated people. I am confident that I am leaving the Company in excellent hands and well-positioned for continued success.

Erich Mauff

About Jushi Holdings Inc.

We are a vertically integrated cannabis company led by an industry-leading management team. In the United States, Jushi is focused on building a multi-state portfolio of branded cannabis assets through opportunistic acquisitions, distressed workouts, and competitive applications. Jushi strives to maximize shareholder value while delivering high-quality products across all levels of the cannabis ecosystem. For more information, please visit jushico.com or our social media channels, Instagram, Facebook, Twitter, and LinkedIn.

Original press release

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