Turning Point Brands Names New CEO

Turning Point Brands Names New CEOYavor Efremov

Turning Point Brands, Inc. (TPB)–whose products including Zig-Zag, Stoker’s and Solace Vapor–has announced that its current CEO, Larry Wexler, will retire in January 2022. Wexler has been with the company for nearly two decades and will continue to serve on Turning Point Brands’ board of directors following his retirement.

Succeeding Wexler as CEO and president of Turning Point Brands will be Yavor Efremov. Previously, Efremov served as CEO of Motorsport Network where he helped to upgrade the company’s IT infrastructure, processes, and company strategy to support the integration of more than 30 businesses around the world. Efremov served as senior executive at Liberty Media Corp. where he was credited for sourcing, financing and growing Liberty’s investments in multi-billion dollar businesses, including Charter Communications and Formula 1. Before that job, Efremov worked as an investment banker at Goldman Sachs & Co. and as a corporate lawyer at the law firm of Cleary, Gottlieb, Steen & Hamilton.

“Yavor joined Turning Point’s Board of Directors in July 2021 to help develop our long-term strategic plan. Since then, he has spent extensive time working closely with teams in each area of the business,” said David Glazek, chairman of Turning Point Brands. “Yavor came highly recommended by some of the most successful operators and investors in the world. The Board is confident he has the right skill-set to help grow the Company to the size and scale necessary to maximize value in a world driven by constantly shifting consumer preferences.”

“During my time as a Board member, I have been impressed by the Company’s prospects across all divisions,” said Efremov. “In my new role as CEO, I look forward to working alongside this dynamic team of industry leaders to tackle large, compelling opportunities in our existing business and adjacent categories as continued regulatory developments open new avenues for future growth. Our unique organizational infrastructure and strong financial position gives us the flexibility to pursue a variety of large organic and inorganic opportunities to increase shareholder value.”