Turning Point Brands appointed Graham Purdy as CEO and board director, effective Oct. 16, 2022, following Yavor Efremov’s resignation as CEO and director. Additionally, David Glazek will transition from nonexecutive to executive board chairman, effective January 2023.
Purdy will lead TPB’s strategy, execution and operations, with a focus on growing and maximizing the value of the company’s portfolio of brands. Prior to his appointment as CEO, Purdy served as TBP’s chief operating officer since 2019. Since joining TPB in 2004, Purdy has held various leadership positions, including president of the new ventures division and senior vice president of sales.
During his tenure at TPB, Purdy oversaw two successful brand extensions, rolling out Zig-Zag Cigar Wraps and Stoker’s MST. In addition, he built an effective sales organization driven by an industry-leading performance management system, positioned a number of successful new products and led the integration of many of the company’s most important strategic initiatives. Purdy led day-to-day operations during the Covid-9 pandemic, managing complex challenges while completing three of the most successful years in the company’s history.
“Graham is a highly experienced operator who has been integral to Turning Point’s success. His deep knowledge of the company’s operations and industry make him ideally suited to lead TPB today. We are confident in his ability to oversee Turning Point’s brand strategy and sharpen the company’s operational focus,” said Glazek, chairman of TPB’s board of directors, in a statement.
“The board would also like to thank Mr. Efremov for his many contributions during his tenure. In the last year, he has launched key initiatives, including the expansion of our distribution platform, enhancing our IT infrastructure and adding new leadership talent. We wish him well going forward.”
“I am excited to serve as Turning Point’s next CEO and drive the company’s strategic priorities to enhance shareholder value,” said Purdy. “Over the past three decades, Turning Point has built a leading industry position through our portfolio of large and leading brands, innovative marketing and omni-channel distribution capabilities, along with our strong track record of new product innovation. I look forward to working with our highly talented team to continue to build a world-class consumer products company for the benefit of our employees, customers and shareholders.”
“I am proud of what we have accomplished in a short period of time and the progress that has been made on key initiatives over the past year,” said Efremov. “I am grateful to have had the opportunity to serve as CEO and meet and work alongside the many hardworking and dedicated employees of Turning Point.”