Turnaround Veteran to Focus on Unlocking Shareholder Value in Tobacco Assets

BUFFALO, N.Y., Nov. 29, 2023 (GLOBE NEWSWIRE) – 22nd Century Group, Inc. (Nasdaq: XXII) (“22nd Century” or the “Company”), a biotechnology company focused on utilizing advanced plant technologies to improve health and wellness, today announced the appointment of Lawrence (Larry) Firestone as the Company’s Chairman and Chief Executive Officer. With over 20 years of experience in turnaround management and a track record of success in maximizing shareholder value, Firestone brings a wealth of knowledge and expertise to his new role at 22nd Century.

Unlocking Shareholder Value

As Chairman and CEO, Firestone’s primary focus will be on unlocking shareholder value in 22nd Century’s tobacco assets. With his proven leadership skills and strategic vision, Firestone is well-positioned to drive the Company’s growth and success in the biotechnology industry. His background in turnaround management makes him the ideal candidate to lead 22nd Century into its next phase of development.

Optimizing Tobacco Assets

22nd Century Group is known for its innovative approach to tobacco and nicotine products, including its proprietary reduced-risk tobacco technology. With Firestone at the helm, the Company is poised to optimize its tobacco assets and capitalize on new opportunities in the health and wellness market. By leveraging advanced plant technologies, 22nd Century aims to revolutionize the tobacco industry and improve public health outcomes.

Impact on Individuals

For individual investors, Firestone’s appointment means potential growth and value creation in 22nd Century Group. As a seasoned turnaround specialist, Firestone’s strategic initiatives could lead to increased shareholder returns and a stronger market position for the Company. Investors may benefit from the enhanced focus on unlocking shareholder value in 22nd Century’s tobacco assets.

Global Implications

On a global scale, Firestone’s leadership at 22nd Century could have far-reaching implications for the biotechnology and tobacco industries. With a strong emphasis on health and wellness, the Company’s innovative plant technologies may contribute to advancements in reducing the harms of traditional tobacco products. By focusing on unlocking shareholder value, 22nd Century has the potential to drive positive change and innovation in the global market.

Conclusion

Overall, Lawrence Firestone’s appointment as Chairman and CEO of 22nd Century Group signifies a new chapter of growth and value creation for the Company. With his extensive experience in turnaround management and a strategic focus on shareholder value, Firestone is well-equipped to lead 22nd Century to new heights in the biotechnology industry. Investors and stakeholders can look forward to exciting opportunities and advancements under his leadership.