Financial Operations Veteran Joins New CFO Lance Barton
LOS ANGELES, Feb. 18, 2021 (World NEWSWIRE) — PLBY Team, Inc. (NASDAQ: PLBY) (the “Company”), a foremost satisfaction and leisure way of living enterprise and proprietor of Playboy, 1 of the most recognizable and iconic brands in the earth, now announced the expansion of its finance crew with the addition of Florus Beuting as Chief Accounting Officer. In his new part, which started on February 8, 2021, Mr. Beuting is accountable for PLBY Group’s worldwide accounting operations, money reporting, tax, treasury, and audit features. Mr. Beuting will report to recently appointed CFO Lance Barton when Mr. Barton begins on March 1, 2021. Latest PLBY Group CFO, David Israel, will support the changeover of the finance group and assume an operational role at the Business concentrated on immediate to purchaser functions.
Mr. Beuting joins PLBY Team from Fandango, the place he served given that December 2017 as the company’s Vice President and Controller, overseeing domestic and global accounting for the company’s Ticketing and Video on Demand from customers businesses, and managed the economic functions integration of many acquisitions. Earlier, Mr. Beuting served as Assistant Controller at Snapchat where by he led the implementation of the company’s economical units and assisted aid the company’s general public business readiness.
“Florus brings significant expertise major significant, worldwide corporations through durations of transformational expansion and delivering effects,” said Ben Kohn, CEO of PLBY Team. “We’re psyched to welcome him to our crew and look forward to the pivotal function he will perform as we embark on our up coming chapter as a general public organization.”
Mr. Kohn continued, “I’d also like to prolong my deepest gratitude to David Israel, who will be transitioning to an operational role at PLBY Group as Lance and Florus move into their roles. David has served as a faithful partner given that I commenced as CEO a few many years in the past and I’m thrilled he will be stepping into an operational leadership job in the coming months.”
On February 11, 2021, the Corporation began trading on Nasdaq Worldwide Current market right after completing its enterprise blend with Mountain Crest Acquisition Corp. (“MCAC”), a unique objective acquisition company. Upon completing the merger, Mountain Crest Acquisition Corp altered its identify to PLBY Team, Inc. and the Organization closed the transaction with additional than $100 million in unrestricted money and a newly adaptable cap composition. Playboy’s return to the public marketplaces as PLBY Group offers a reworked, streamlined, and significant-expansion small business, including its legendary brand name contracted licensing organization, owned-and-operated sexual wellness items readily available for sale on its owned digital commerce platforms in big retail suppliers in the US, and a increasing wide variety of outfits and branded life-style and digital gaming items, like one particular of the main men’s clothing organizations in China. The Company also recently declared the growth of its immediate-to-buyer and retail retail outlet achieve with a offer to acquire a major sexual wellness omni-channel retailer. The offer is anticipated to close in the initially quarter of 2021.
About PLBY Team, Inc.
PLBY Team, Inc. (“PLBY Group”) connects people close to the environment with products and solutions, services, and activities to enable them seem superior, truly feel good, and have exciting. PLBY Team serves individuals in 4 key categories: Sexual Wellness, Style & Apparel, Gaming & Way of living, and Attractiveness & Grooming. PLBY Group’s flagship customer brand name, Playboy, is just one of the most recognizable, iconic manufacturers in the entire world, driving more than $3 billion in world consumer commit yearly throughout 180 nations. Discover additional at http://www.plbygroup.com.
This push release incorporates “forward-looking statements” within just the indicating of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. The Company’s real final results may possibly differ from their expectations, estimates, and projections and, therefore, you ought to not rely on these ahead-seeking statements as predictions of upcoming situations. Words these kinds of as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and comparable expressions (or the damaging variations of this sort of text or expressions) are intended to recognize these types of forward-on the lookout statements. These ahead-looking statements involve, with out limitation, the Company’s expectations with regard to potential functionality, expansion options and anticipated fiscal impacts of the proposed organization blend and pending transactions.
These forward-hunting statements entail sizeable threats and uncertainties that could bring about the precise outcomes to vary materially from those people reviewed in the ahead-hunting statements. Factors that might induce these kinds of discrepancies include, but are not minimal to: (1) the impact of COVID-19 pandemic on the Company’s business (2) the inability to manage the listing of the Company’s shares of widespread stock on Nasdaq next the organization mixture (3) the chance that the organization mix or its prepared transactions disrupt the Company’s existing strategies and functions, which include the risk that the Company does not complete any these kinds of prepared transactions or accomplish the expected benefit from them (4) the means to realize the predicted benefits of the enterprise mix, which may possibly be impacted by, among other matters, competitors, the potential of the Enterprise to mature and manage expansion profitably, and retain its vital personnel (5) prices relevant to the business combination (6) modifications in applicable legislation or restrictions (7) the likelihood that the Firm may be adversely afflicted by other economic, company, and/or competitive aspects (7) dangers relating to the uncertainty of the projected monetary details of the Corporation (8) pitfalls related to the organic and inorganic advancement of the Company’s enterprise and the timing of anticipated enterprise milestones and (9) other dangers and uncertainties indicated from time to time in the definitive proxy statement relating to the business enterprise mixture, which includes those under “Risk Factors” therein, and in the Company’s other filings with the SEC. The Company cautions that the foregoing record of aspects is not distinctive, and viewers should not to area undue reliance on any forward-searching statements, which converse only as of the date manufactured. The Business does not undertake or acknowledge any obligation or enterprise to launch publicly any updates or revisions to any ahead-wanting statements to mirror any modify in their expectations or any transform in gatherings, ailments, or situation on which any these types of statement is based mostly.
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