Lexaria Bioscience Corp (LEXX)

[billymayshear]

This on Cronos new Board Members:

Director Additions

In connection with the closing, the board of directors of Cronos Group (the “Cronos Group Board”) has been expanded from five to seven members. The Cronos Group Board will include existing directors, Mike Gorenstein, Jim Rudyk, Chief Financial Officer of Roots Corporation, who will serve as lead director, and Jason Adler, Founder and Managing Partner of Gotham Green Partners GP, as well as four new directors nominated by Altria:

Kevin “K.C.” Crosthwaite, Jr., Senior Vice President, Chief Strategy and Growth Officer of Altria;
Bronwen Evans, Independent Consultant and Brand Strategist;
Murray Garnick, Executive Vice President and General Counsel of Altria; and
Bruce Gates, Founding Partner of Three Oaks Strategies LLC

New Chief Financial Officer and Chief Commercial Officer

Cronos Group also announced today that Jerry Barbato, most recently Senior Director of Corporate Strategy at Altria, has joined Cronos Group and has been appointed Chief Financial Officer of the Company, effective April 15, 2019. Mr. Barbato assumes the CFO role from William Hilson, who will serve as Cronos Group’s Chief Commercial Officer, a newly created role, effective April 15, 2019. As Chief Commercial Officer, Mr. Hilson will report to Mr. Gorenstein and be responsible for further enhancing the commercial strategy as well as the product and research development priorities of the Company.

“These appointments demonstrate our commitment to a premier leadership team with the skills and experience necessary to support our next phase of growth and development,” said Mike Gorenstein. “In addition to benefiting from Jerry’s finance expertise, we expect his first-hand knowledge of Altria to help ensure we fully capitalize on our partnership with them. William is a valuable contributor to our team, and we expect his scientific and pharmaceutical knowledge to further enhance the commercial strategy and R&D initiatives for the Company. I am excited to work with Jerry and William as we continue building a leading, innovative global cannabinoid company.”