Dr. Manfred Ziegler Joins Flora Growth Corp. as Managing Director, Bolstering German Business with Unmatched Expertise
Fort Lauderdale, Florida--(Newsfile Corp. - October 10, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") is pleased to announce the appointment of Dr. Manfred Ziegler as a Managing Director. Dr. Ziegler, a renowned figure in the pharmaceutical industry, brings decades of expertise, notably his leadership as Managing Director of CC Pharma and his pivotal role in the sale of CC Pharma to Tilray, one of the world's leading cannabis companies.
With the appointment of Dr. Ziegler, Flora Growth is poised to accelerate its ambition to become one of the leading cannabis companies in Germany. His strategic leadership and proven ability to drive growth in complex markets will be instrumental as Flora expands its operations in Germany, targeting increased market share and a stronger foothold in Europe's rapidly evolving cannabis sector.
Dr. Ziegler's tenure at CC Pharma marked a period of growth and strategic innovation. As Managing Director, he transformed the company into one of Europe's leading pharmaceutical distributors, with a robust portfolio and a significance presence in the European market. His leadership was instrument in the successful acquisition of CC Pharma by Tilray.
The sale of CC Pharma to Tilray was a significant transaction in the cannabis and pharmaceutical sectors. This acquisition positioned Tilray as a key player in the European medical cannabis market, leveraging CC Pharma's established distribution network to expand its reach in the rapidly growing sector.
Dr. Manfred Ziegler is a seasoned executive with over 30 years of experience in the pharmaceutical and healthcare sectors, recognized for his expertise in corporate restructuring and business transformation. Prior to his tenure at CC Pharma, Dr. Ziegler held leadership roles at several prominent companies, where he managed complex international operations and contributed to substantial revenue growth. His track record of strategic realignment and operational efficiency has made him a respected leader in the industry.
"Dr. Ziegler is a legend and a complete gentleman. We are thrilled he is coming in to lead all initiatives in Germany, which will snowball to the rest of Europe. We could not have found anyone more qualified for this role. We both share the same vision of becoming a leader in Germany and creating a long-lasting business in Europe," said Clifford Starke, Chief Executive Officer.
In his role as Managing Director, Dr. Ziegler will work closely with Flora's executive team, providing insights and guidance on international distribution strategies, regulatory compliance, and market expansion. His understanding of the German market, combined with his experience in overseeing large-scale transactions, will be critical as Flora accelerates its growth plans and pursues opportunities in Europe.
One of Dr. Ziegler's key objectives will be to spearhead the launch of the Company's parallel import business in Germany. Parallel importing involves purchasing pharmaceutical products from other EU countries where prices are lower, and then importing them into Germany to sell at competitive rates. This practice is highly regulated but provides an opportunity to reduce costs for consumers and increase Flora's market presence. Dr. Ziegler's vast experience in the pharmaceutical sector, particularly in navigating regulatory complexities and optimizing supply chains, will be critical in establishing Flora as a leader in this space, helping the company provide affordable, high-quality products to the German market.
"I am excited to join Flora at such a pivotal time in the Company's journey," said Dr. Ziegler. "Flora's track record of innovation and quality, along with its business ambitions, align well with my experience and vision for the future of the pharmaceutical industry. I look forward to contributing to the Company's continued success and helping to shape its strategic direction."
About Flora Growth Corp.
Flora Growth Corp.'s mission is to become the leading NASDAQ small-cap international cannabis company. Flora is a cannabis-focused consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world. For more information on Flora, visit www.floragrowth.com.
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Clifford Starke Clifford.Starke@floragrowth.com
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Cautionary Statement Concerning Forward-Looking Statements
This press release contains "forward-looking statements," as defined by U.S. federal securities laws. Forward-looking statements reflect Flora's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words "believe," "expect," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," and the negatives of these words and other similar expressions generally identify forward-looking statements. These forward-looking statements include, but are not limited to, statements about: Flora becoming a leader in Germany and creating a long-lasting business in Europe or at all, expanding our footprint in Europe and deliver strategic solutions to our operations, Flora accelerate its ambition to become one of the leading cannabis companies in Germany, Dr. Ziegler driving growth in complex markets as Flora expands its operations in Germany, Flora expanding its operations in Germany, targeting increased market share and a stronger foothold in Europe's rapidly evolving cannabis sector, Flora launching the parallel import business, and Flora accelerating its growth plans and pursues opportunities in Europe. Such forward-looking statements are subject to various and risks and uncertainties, including those described under section entitled "Risk Factors" in Flora's Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (the "SEC") on March 28, 2024, as such factors may be updated from time to time in Flora's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov/edgar. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Flora's filings with the SEC. While forward-looking statements reflect Flora's good faith beliefs, they are not guarantees of future performance. Flora disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based on information currently available to Flora (or to third parties making the forward-looking statements).
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