Turning Point Brands names new CEO, tightens 2026 EBITDA guidance

Turning Point Brands, Inc. (NYSE: TPB) announced that its board of directors has appointed Executive Chairman David E. Glazek as Chief Executive Officer, effective October 1, 2026, according to a company press release.

Glazek succeeds Graham Purdy, who is stepping down for personal reasons. The company stated the departure is not related to any disagreement with the company. Purdy served in roles of increasing responsibility at TPB for more than two decades, including his most recent role as CEO.

Glazek has been associated with TPB for 12 years, serving first as a director, then as Chairman, and most recently as Executive Chairman.

"On behalf of the Board, I want to thank Graham for his more than two decades of service to TPB and for his leadership and many contributions during his tenure," Glazek said.

Along with the leadership announcement, TPB reaffirmed its full-year 2026 Modern Oral gross sales guidance range of $330 million to $350 million and net sales guidance of $260 million to $270 million. The company tightened its full-year EBITDA guidance range to $70 million to $80 million, narrowed from a prior range of $70 million to $90 million. The company cited an assumption of no margin benefit from onshoring manufacturing until 2027 and prolonged, higher freight costs as factors in the revision.

You May Also Be Interested In

• LKQ names Salvatore Abbate as CEO, effective December 15
• CRH closes $8.5B acquisition of Arcosa
• Sierra Bancorp approves new buyback program, declares quarterly dividend