Alliance One International, Inc. Announces Approval of Corporate Name Change to Pyxus International, Inc., Changes to Board Leadership
MORRISVILLE, N.C., Aug. 21, 2018 /PRNewswire/ -- Alliance One International, Inc. (NYSE: AOI) announced that the Company's shareholders approved the change in corporate name to Pyxus International, Inc., at the Company's Annual Meeting of Shareholders held on August 16, 2018.
The Company plans to start using the name Pyxus on September 12, 2018, at which time the shares will begin trading on the NYSE under the symbol "PYX." Until then, the Company's shares will continue to trade on the NYSE under the symbol "AOI." The Company will use the "Alliance One" brand name for its leaf tobacco business.
"Our transition to Pyxus International is a significant milestone in our 'One Tomorrow' transformation journey," said Pieter Sikkel, President and Chief Executive Officer. "As we continue broadening our business portfolio by focusing on consumer-driven agricultural products, the new organization will enable us to become the trusted provider of responsibly produced, independently verified, sustainable and traceable agricultural products, ingredients and services."
In addition, the Board of Directors also approved changes to its leadership. Pieter Sikkel, President and Chief Executive Officer, has been appointed Chairman of the Board, replacing Mark Kehaya, and Jeffrey A. Eckmann will assume the role as lead independent director from C. Richard ("Dick") Green, Jr. Both Kehaya and Green will remain members of the Board.
"Pieter has done an incredible job leading our Company through our 'One Tomorrow' transformation, and I am pleased that he is taking over as Chairman of the Board," said Kehaya. "With the success of the transformation thus far, it is a natural next step for him to take the lead on our Board of Directors. I would like to congratulate him for his success and am excited to continue working with him as we explore and maximize opportunities to enhance shareholder value."
"On behalf of the entire board, I want to thank Mark for his outstanding leadership in driving our company forward through the transformation as well as his guidance and support during his years as Interim CEO for the company. We are honored to have his continued counsel and service as a director," said Sikkel. "I also want to thank Dick Green for his contribution as lead independent director through some of the crucial strategic decisions we have made. We are pleased that Jeff will take on a robust leadership role to continue to advance our strategy as we expand and diversify our business while maintaining our commitment to strong corporate governance."
Further detail on the Company's brand, structure and strategy will be discussed at the upcoming Investor and Analyst Day on September 12, 2018, in New York City.
About Alliance One International, Inc.
Alliance One International (NYSE: AOI) is an agricultural company that delivers value-added products and services to businesses and customers, and is a trusted provider of responsibly sourced, independently verified, sustainable and traceable products and ingredients.
SOURCE Alliance One International, Inc.
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