Economic Functions Veteran Joins New CFO Lance Barton
LOS ANGELES, Feb. 18, 2021 (World NEWSWIRE) — PLBY Team, Inc. (NASDAQ: PLBY) (the “Company”), a major pleasure and leisure way of life firm and proprietor of Playboy, a single of the most recognizable and iconic brands in the environment, these days introduced the enlargement of its finance staff with the addition of Florus Beuting as Chief Accounting Officer. In his new part, which began on February 8, 2021, Mr. Beuting is liable for PLBY Group’s world-wide accounting functions, monetary reporting, tax, treasury, and audit features. Mr. Beuting will report to recently appointed CFO Lance Barton when Mr. Barton starts on March 1, 2021. Recent PLBY Team CFO, David Israel, will guidance the changeover of the finance crew and think an operational position at the Organization centered on immediate to buyer functions.
Mr. Beuting joins PLBY Group from Fandango, where he served considering the fact that December 2017 as the company’s Vice President and Controller, overseeing domestic and worldwide accounting for the company’s Ticketing and Video clip on Desire corporations, and managed the economical operations integration of a number of acquisitions. Beforehand, Mr. Beuting served as Assistant Controller at Snapchat the place he led the implementation of the company’s fiscal units and aided facilitate the company’s public firm readiness.
“Florus delivers sizeable encounter foremost substantial, international corporations by way of intervals of transformational development and providing outcomes,” stated Ben Kohn, CEO of PLBY Group. “We’re fired up to welcome him to our group and look ahead to the pivotal role he will engage in as we embark on our subsequent chapter as a general public organization.”
Mr. Kohn continued, “I’d also like to increase my deepest gratitude to David Israel, who will be transitioning to an operational job at PLBY Group as Lance and Florus move into their roles. David has served as a loyal partner considering that I began as CEO a few years ago and I’m thrilled he will be stepping into an operational management position in the coming months.”
On February 11, 2021, the Company began buying and selling on Nasdaq International Current market soon after finishing its business combination with Mountain Crest Acquisition Corp. (“MCAC”), a distinctive intent acquisition company. Upon completing the merger, Mountain Crest Acquisition Corp modified its identify to PLBY Group, Inc. and the Business closed the transaction with a lot more than $100 million in unrestricted income and a recently versatile cap framework. Playboy’s return to the community marketplaces as PLBY Team presents a remodeled, streamlined, and higher-development small business, which includes its legendary brand name contracted licensing small business, owned-and-operated sexual wellness goods out there for sale on its owned electronic commerce platforms in key retail retailers in the US, and a expanding range of clothing and branded life style and digital gaming products, which include a single of the top men’s clothing enterprises in China. The Enterprise also recently declared the growth of its immediate-to-consumer and retail store attain with a deal to obtain a leading sexual wellness omni-channel retailer. The offer is predicted to close in the to start with quarter of 2021.
About PLBY Group, Inc.
PLBY Group, Inc. (“PLBY Group”) connects individuals all-around the earth with solutions, solutions, and ordeals to support them glimpse great, feel great, and have exciting. PLBY Group serves shoppers in four important types: Sexual Wellness, Type & Apparel, Gaming & Way of living, and Attractiveness & Grooming. PLBY Group’s flagship customer brand, Playboy, is a person of the most recognizable, legendary makes in the planet, driving a lot more than $3 billion in world-wide shopper devote on a yearly basis throughout 180 international locations. Study extra at https://www.plbygroup.com.
This press release features “forward-wanting statements” in the this means of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. The Company’s precise results might differ from their expectations, estimates, and projections and, therefore, you should not depend on these forward-searching statements as predictions of upcoming activities. Words and phrases these kinds of as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and related expressions (or the adverse variations of these terms or expressions) are meant to identify these kinds of ahead-wanting statements. These ahead-on the lookout statements involve, without having limitation, the Company’s anticipations with respect to foreseeable future functionality, advancement ideas and expected financial impacts of the proposed business blend and pending transactions.
These forward-seeking statements contain considerable threats and uncertainties that could result in the true benefits to vary materially from all those reviewed in the forward-wanting statements. Variables that may perhaps induce such variations contain, but are not constrained to: (1) the effects of COVID-19 pandemic on the Company’s enterprise (2) the inability to retain the listing of the Company’s shares of popular inventory on Nasdaq next the business enterprise combination (3) the hazard that the business mixture or its planned transactions disrupt the Company’s latest designs and functions, including the risk that the Enterprise does not full any these types of prepared transactions or achieve the envisioned benefit from them (4) the skill to identify the anticipated positive aspects of the business enterprise mix, which may possibly be affected by, between other factors, opposition, the potential of the Corporation to increase and manage development profitably, and retain its vital workforce (5) expenditures related to the small business combination (6) changes in relevant legislation or rules (7) the probability that the Company could be adversely influenced by other economic, small business, and/or aggressive variables (7) hazards relating to the uncertainty of the projected money facts of the Business (8) pitfalls similar to the organic and natural and inorganic expansion of the Company’s organization and the timing of anticipated organization milestones and (9) other threats and uncertainties indicated from time to time in the definitive proxy assertion relating to the enterprise mixture, which includes those people underneath “Risk Factors” therein, and in the Company’s other filings with the SEC. The Firm cautions that the foregoing list of elements is not unique, and audience ought to not to location undue reliance upon any ahead-hunting statements, which talk only as of the day manufactured. The Firm does not undertake or accept any obligation or enterprise to launch publicly any updates or revisions to any ahead-searching statements to reflect any improve in their expectations or any change in events, ailments, or instances on which any these types of statement is based.
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