Now we know why he sold shares
2nd Century Group (Nasdaq: XXII) Announces Management Updates and Departure of Chief Operating Officer
BUFFALO, N.Y., September 7, 2022 (Globe Newswire) — 22nd Century Group, Inc. (Nasdaq: XXII), a leading agricultural biotechnology company dedicated to improving health with reduced nicotine tobacco, hemp/cannabis, and hops advanced plant technologies, today announced changes in its management team as the Company accelerates growth in its reduced nicotine content tobacco business. The Company announced that Michael Zercher, President and Chief Operating Officer, will depart the Company effective September 30, 2022. John Miller, who leads 22nd Century’s tobacco business team, will assume the tobacco-related duties of the Chief Operating Officer’s role, while Chief Executive Officer James A. Mish will assume the title of Corporate President.
“With exceptionally successful VLN® pilot results in hand, 22nd Century is expanding sales and planning rollouts in strategic regions across the United States,” said James A. Mish, chief executive officer of 22nd Century. “In order to coordinate all of the critical elements of this expansion plus additional planned market launches, John Miller, who already leads our tobacco product, marketing and partnership efforts, will assume full operational responsibility for the tobacco product lines, bringing to bear his more than 30 years of industry experience to direct a fully integrated national VLN® sales strategy.”
On behalf of the Board of Directors and the entire Company, I thank Mike for his work at 22nd Century Group, including his important role in helping bring VLN® through the regulatory process to secure the first and only FDA Modified Risk Tobacco Product marketing order ever granted to a combustible cigarette. Mike has also been instrumental in developing our initial VLN® industry partnerships and successful Chicagoland pilot program,” said Mish. “As a result, 22nd Century represents a completely new type of tobacco business focused on disrupting the industry and, most importantly, helping adult smokers to smoke less. We thank Mike for the incredible success he has helped the Company achieve and wish him well in his future endeavors.”
