9th August 2022
Corporate Stock Market

Agrify Strengthens Board of Directors and Executive Leadership Team

Agrify Corp Q1 2022
  • Max Holtzman Joins the Board of Directors as Independent Director
  • Stuart Wilcox Becomes Chief Operating Officer
  • Chris Benyo Promoted to Chief Revenue Officer

Agrify Corporation (Nasdaq:AGFY), announced a number of leadership changes to further support the Company’s growth initiatives.

  • Max Holtzman, who currently serves as Operations Director at Ocean 14 Capital, and who previously served as the Senior Advisor to the United States Secretary of Agriculture, has been appointed to Agrify’s Board of Directors as an Independent Director.
  • Stuart Wilcox, who is the former Chief Operating Officer of Curaleaf, a leading medical and wellness cannabis operator in the United States, and who, prior to this announcement, served as an Independent Director on Agrify’s Board of Directors and Chair of the Nominating and Corporate Governance Committee, has been named the Company’s Chief Operating Officer. Mr. Wilcox stepped down from the Agrify Board as a Director concurrently with his appointment as Chief Operating Officer.
  • Chris Benyo, who joined Agrify in January 2022 and most recently served as Senior Vice President and General Manager for Agrify’s Extraction Division, has been promoted to the newly created role of Chief Revenue Officer in which he will oversee all of the Company’s revenue streams and growth efforts.
  • Thomas Massie, the Company’s former President and Chief Operating Officer, has departed Agrify and resigned from the Agrify Board of Directors in order to pursue other business opportunities.

“We are excited to announce these important leadership changes as we continue to make significant progress on our growth strategy and achieving our goal of becoming the most vertically integrated solution provider in the cannabis industry,” said Raymond Chang, Chief Executive Officer and Chairman of the Board of Agrify. “With the appointment of Max to Agrify’s Board of Directors, we are elated to add someone with such impressive and complementary skills and credentials to our team. An attorney by trade, Max has held a number of leadership positions throughout his career, and he has also served as an advisor and strategic consultant in both the public and private sectors, including a six-year period in which he was the Senior Advisor to the United States Secretary of Agriculture. Given his background and wide-ranging professional accomplishments, we expect Max to add significant value as we look to advance our commercialization efforts and capture additional market share. Furthermore, we have already started to expand our geographical footprint with new customer engagements in Portugal and New Zealand, and Max, who has considerable global experience and extensive knowledge on international trade issues, should be able to offer invaluable insight into how we can foster more international growth. We welcome Max to the Agrify family, and we are thrilled to have the opportunity to collaborate with him as we scale our business.”

Mr. Chang continued, “As we seek to achieve accelerated growth and deliver greater value for our shareholders, customers, and employees, we feel as if Stuart is the right person to serve as our new Chief Operating Officer. He is a talented and collaborative leader with extensive experience as an executive and possesses deep domain expertise in the cannabis industry. Stuart, who previously served as Chief Operating Officer at Curaleaf for three years, has been integral to Agrify’s recent success as a member of our Board of Directors, and I am confident, with his expanded role, that he will have an even greater impact on helping the Company deliver strong financial and operational performance over the long term.”

“We are also pleased to have Chris take on a larger role as our new Chief Revenue Officer. Chris is a seasoned sales and marketing executive with a lengthy track record of success in growing revenues across a variety of companies, including during his time at Agrify. Chris’ promotion to Chief Revenue Officer is well deserved and will enable him to develop and implement strategies aimed at optimizing our revenue-generating efforts across our entire organization. We look forward to working with and supporting Chris in his new role as we remain committed to further solidifying our standing as a leading solution provider in the cannabis industry.”

Mr. Chang concluded, “The Board is grateful for Thomas’ contributions to the Company over the past three years. Thomas’ leadership was very instrumental in helping Agrify drive rapid revenue growth, implement strong operational structure, execute strategic acquisitions, and achieve a successful Initial Public Offering. We wish him continued success in all of his future endeavors.”

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