SUMR Brands (SUMR) Announces CFO Retirement and Transition
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SUMR Brands ("SUMR Brands" or the "Company") (NASDAQ: SUMR), a global leader in premium infant and juvenile products, today announced that its Chief Financial Officer, Edmund J. Schwartz, will be retiring. Schwartz will step down from his role as CFO on March 19, 2021, following the completion of the Company’s audit for fiscal year 2020, and will continue to consult with the Company through the end of March to allow for a smooth and orderly transition.
Bruce Meier, managing director at Winter Harbor, LLC, will assume the role of Interim CFO on March 19, 2021. Meier possesses more than 20 years of diverse business and financial experience and has been consulting with the Company since its engagement of Winter Harbor in December 2019. Over the past year, Meier has worked closely with CEO Stuart Noyes and Schwartz to effectuate transformative change at SUMR in both the finance and operations areas including refinancing its debt, preparation of the 2021 budget, and SEC reporting requirements.
“On behalf of the entire team at SUMR and the Board of Directors, I want to thank Ed for his leadership and tireless dedication to our Company and values. Ed’s impeccable skills and judgment have been instrumental in helping SUMR to successfully navigate a period of significant disruption and change. I personally want to thank Ed for being a trusted advisor to me and a true business partner to our team. We wish him a long, happy and well-deserved retirement,” said Noyes.
Noyes added, “It gives me great confidence to know that Bruce is stepping into the CFO role. Bruce has contributed significantly to the strategic, business and financial functions at SUMR. I am confident that his diligence and expertise will support a successful transition as we continue to execute our strategies to drive profitable growth in a financially disciplined manner.”
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