By Timothy S. Donahue
Top Takeaways:
- Leadership change: David E. Glazek will become Turning Point Brands CEO effective Oct. 1.
- Purdy steps down: Graham Purdy is leaving for personal reasons after more than two decades with TPB.
- Pouch opportunity: Glazek pointed to TPB’s opportunity to become a leading player in the growing white nicotine pouch category.
Turning Point Brands is changing leadership as it pushes deeper into white nicotine pouches.
The company said its board appointed Executive Chairman David E. Glazek as CEO, effective Oct. 1, succeeding Graham Purdy, who is stepping down for personal reasons.
TPB emphasized that Purdy’s departure is unrelated to any disagreement with the company.
“Graham is dealing with personal circumstances that require his immediate attention, and he felt it was in the best interest of our employees and shareholders to make the difficult decision to step down,” Glazek said. “We wish Graham and his family the best and thank him for his assistance with the transition of his day-to-day responsibilities.”
Purdy has spent more than two decades with TPB, holding positions of increasing responsibility before becoming CEO.
“My more than two decades with TPB, serving in roles of increasing responsibility and ultimately as CEO, have been immensely rewarding,” Purdy said. “I am incredibly proud of what we have accomplished throughout the years.”
Glazek has worked with TPB’s board and leadership for the past 12 years, first as a director, then as chairman, and most recently as executive chairman. As he takes over, he specifically pointed to the company’s growing interest in the white nicotine pouch business.
“Turning Point Brands is a great story,” Glazek said. “It has powerful, iconic brands, an exceptional team, a strong balance sheet, and a transformative opportunity to become a leading player in the rapidly growing white pouch category.
“I have never been more excited about the long-term potential of the business. I look forward to continuing to work with our talented team to maximize long-term shareholder value.”
Glazek also thanked Purdy for his tenure at the company. “Graham has played an important role in the evolution of the company, and we are grateful for his dedication to our employees, customers, and shareholders,” he said.
