Corporate Update: Meni Morim to Step Down as CEO
11 Marzo 2024 - 12:00PM
Lifeist Wellness Inc.
My fellow Shareholders,
As Lifeist prepares for a truly transformative
year, we have received meaningful feedback from shareholders
regarding the strategic focus of Lifeist going forward, its
compensation structure and incentivization of management, and the
value that fresh insights and approaches might bring to Lifeist's
core businesses.
At this time, Meni Morim wishes to announce his
intent to step down as CEO of Lifeist after the Board of Directors,
led by Mr. Branden Spikes, has completed its executive search and
appointed a new CEO to assume leadership of Lifeist. Until a new
CEO has been selected, Mr. Morim has agreed to remain and will
continue to serve as CEO, at reduced compensation, to keep the
operating subsidiaries on track through the strategic pivot to
increase focus on Mikra Cellular Sciences and Aussie Vapes.
Furthermore, the members of the Board of
Directors have also individually agreed to reduce their own
compensation in order to cut costs and improve cash flow for
Lifeist in this pivotal year.
We are more confident than ever in Lifeist's
roadmap to cash flow positivity and profitability. Initiatives
presently underway at its operating subsidiaries hold great promise
for the realization of shareholder value, and we look forward very
much to reaching new milestones in 2024.
On behalf of the Board of Directors,/s/ “Branden
Spikes”Branden Spikes, Chairman of the Board
Lifeist Wellness Inc.Ph:
647-362-0390 Email: ir@lifeist.com
Source: Lifeist Wellness Inc.
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