Elliot Maisel, Chairman and CEO of FIN Branding Group to Assume Vice-Chairman Role at Victory Electronic Cigarettes Corporation
- Brings significant leadership and industry expertise to the Board- Appointment follows signing of definitive agreement announced earlier this week
February 13, 2014 --
SPRING LAKE, MICHIGAN -- (Marketwired) -- 02/13/14 -- Victory Electronic Cigarettes Corporation (OTCQB: ECIG) today announced that Elliot B. Maisel, Chairman and Chief Executive Officer of FIN Branding Group will join the Board of Directors of Victory Electronic Cigarettes Corporation as Vice-Chairman and Lead Director.
Elliot B. Maisel brings a long history of business success to the group. Previously, Mr. Maisel served as the Chairman and Chief Executive Officer of FIN Branding Group, LLC. Mr. Maisel currently serves as Chairman and Chief Executive Officer of Gulf Distribution Holdings, LLC, and joined the group in 1974. Gulf Distributing Holdings, LLC is the parent company of four beverage distribution operations: Gulf Distributing Company of Mobile, Allstate Beverage Company, Goldring Gulf Distributing Company, and Energy Beverage Management Company. The group is one of the leading beverage distributors in the United States with annual case sales volume of more than 13 million cases.
He joined Gulf Distributing Company of Mobile, LLC in 1974. He graduated from University of Alabama in 1976.
Mr. Maisel noted, "I am very excited to join Victory's Board of Directors and join them in the mission to create the world's largest independent electronic cigarette company. Ultimately it was a very easy decision to partner with a small group of like-minded leaders who had the exact same objectives as I did. Together, we are going to achieve our goals that much faster. The FIN brand is a great addition to the group, and now as part of a portfolio of leading brands for distributors, retailers, and consumers, we have an unbeatable lineup that I am excited to continue to build."
Brent Willis, Chairman and CEO of Victory Electronic Cigarettes, and former board member at AmBev, and President at the Coca-Cola Company in Latin America commented, "I am extremely enthusiastic about partnering with Elliot to build this company to its fullest potential. We share a passion for winning, share a common objective, and share common backgrounds and experiences in the beverage industry. As Vice-Chairman he will bring tremendous leadership to an increasingly globally powerful board, and I know he will be instrumental in helping drive the group's operational success."
Victory Electronic Cigarettes Corporation is dedicated to providing a cleaner and healthier alternative to smoking for all, and intends to empower smokers to regain their freedom. Victory is one of the leading companies in the rapidly emerging and fast-growing electronic cigarette category. Victory offers consumers a full product portfolio that incorporates the highest quality and latest technology, and has been rated as superior in real tobacco taste amongst major brands. Victory's experienced management team is positioned to leverage its differentiated portfolio, distinct go-to-market approach, and low-cost infrastructure to accelerate growth and drive significant value for its shareholders.
FIN Branding Group LLC is one of the leading electronic cigarette companies in the United States with distribution of its iconic American brands in all 50 states in more than 50,000 outlets across all channels of distribution including food, drug, mass, gas and convenience. FIN is sold in some of the most respected retailers in the country with leading positions in Wal-Mart, Sam's, Walgreen's, Rite-Aid, Kroger, 7-11. Circle K, Stripes, Mapco, and more than 200 other major accounts. The group was founded in 2011, and quickly rose to enjoy one of the leading share positions in the United States.
Safe Harbor Disclosure
This press release contains forward-looking statements reflecting management's current expectations regarding future results of operations, economic performance, financial condition and achievements of Victory, including statements regarding Victory's expectation to see continued growth. The forward-looking statements are based on the assumption that operating performance and results will continue to materialize consistent with recent trends. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate. Forward-looking statements, specifically those concerning future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include: Victory's reliance on additional financing, as Victory has not achieve profitability; risks associated with Victory's products, including that they may pose a health risk; governmental regulations may impact Victory's business; the market or consumers may not accept Victory's products; Victory relies on a single class of products; existing or pending patents may affect Victory's business; and other factors disclosed in the Company's filings with the Securities and Exchange Commission. Unless required by applicable law, Victory undertakes no obligation to update or revise any forward-looking statements.
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