22nd Century Group Announces Management Changes

Williamsville, NY, Dec. 13, 2019 (GLOBE NEWSWIRE) -- 22nd Century Group, Inc. (NYSE American: XXII), a plant biotechnology company that is a leader in tobacco harm reduction, Very Low Nicotine Content (VLNC) tobacco and hemp/cannabis plant research, announced today changes to the Company’s management.

“Over the past few months we have made rapid and significant progress in strengthening 22nd Century Group as we execute against our two growth strategies,” commented James W. Cornell, Director & Chairman of the Board of 22nd Century Group.  “We are committed to creating meaningful change in the tobacco industry by reducing the harm caused by smoking through the commercialization of our proprietary VLNC tobacco and its related intellectual property, and we are growing a profitable, legal hemp/cannabis business in this fast-growing, emerging space. 

“Today we are announcing several management changes,” Cornell continued.  “First, Cliff Fleet has decided to step away from the role of CEO of 22nd Century while continuing to remain actively engaged in the Company’s leadership as a member of our Board.  Cliff has been called to service to lead The Colonial Williamsburg Foundation, which is charged with the stewardship of Colonial Williamsburg, a national, historical treasure. We are happy for Cliff and quite gratified that he will continue as a Director and leader in our organization.  In conjunction with this move, we are forming an Executive Committee of our Board, on which Cliff and I will serve, to help guide the Company’s leadership, and Michael Zercher, the Company’s Chief Operating Officer, has been appointed to serve as the Company’s President, effective immediately.  Michael is a very talented leader who helped create and is already leading the implementation of the Company’s reshaped strategic plan, and I am confident he will continue providing outstanding leadership of the Company’s day-to-day operations working with Cliff, myself and other members of the Board.”

“Accepting responsibility for leadership of The Colonial Williamsburg Foundation, the world’s largest living-history museum, is a rare honor and very distinctive opportunity,” said Cliff Fleet. “22nd Century is very well positioned for growth as we have recently made a significant investment in the legal hemp/cannabis space, driven rapid progress with both our tobacco-product applications and our hemp/cannabis plant research, raised new capital and tightly controlled costs.  As such, I am pleased to continue my involvement with 22nd Century to help oversee the implementation of the strategic plan developed in collaboration with Michael Zercher, our executive management team and 22nd Century’s Board of Directors.”