Dewmar International BMC, Inc. (DEWM) Names Former Wall Street Executive Don Hunter as Chairman and Chief Executive Officer
NEW YORK, NY, Sept. 27, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – . (OTCPINK: ) announced today that it has named Don Hunter as Chairman and Chief Executive Officer of Dewmar. As a result of the appointment, its long-time Chairman and Chief Executive Marco Moran has resigned both as an Officer and Director of Dewmar to pursue other interests. Dr. Derrick Brooks and J.D. Houston, long-time members of the company’s Board of Directors, have resigned from the Board. Mr. Houston has agreed to aid in management’s transition over the next 90 days.
Mr. Hunter achieved a long and distinguished career on Wall Street. Mr. Hunter is a proud graduate of in Hamilton, New York. As a standout athlete and student, Mr. Hunter starred as a member of and was also a top student. Since his graduation, Mr. Hunter has been a top and proud benefactor to the distinguished university.
After graduating from Colgate, Mr. Hunter began his career at Drexel Burnham and then moved to after Drexel Burnham. After leaving Oppenheimer, Mr. Hunter rose to the position of Executive Vice President at Josephthal and Company. He then left Josephthal to build his own firm and eventually became the CEO of the Park Avenue investment boutique. Mr. Hunter then engineered and was instrumental in completing the sale of his firm in 2009. Since 2009, Mr. Hunter has engaged in consulting ventures and has been a key advisor on several ongoing projects.
As a result of Mr. Hunter’s appointment, Dewmar also named Anthony Fenton to its Board of Directors. Like Mr. Hunter, Mr. Fenton also rose to the top of the ranks of the financial services industry. Mr. Fenton is a versatile business leader with over 30 years experience in senior officer positions for financial and insurance service corporations. Mr. Fenton was a Managing Director and then President of the Insurance Services Division of First Union Corporation. Mr. Fenton was also a partner at which was ultimately purchased by . Since 2016, Mr. Fenton has been the CEO of .
Don Hunter, the Chairman and Chief Executive Officer of Dewmar International, commented, “I would like to thank Marco Moran for all his efforts over the past decade in building Dewmar. Marco has worked tirelessly to help build Dewmar and his efforts should be appreciated by all shareholders. Dr. Brooks and J.D. Houston have resigned as members of the Board of Directors. Dr. Derrick Brooks and J.D. Houston have been loyal and dedicated members of our Board of Directors and I would also like to thank them for their service.”
Mr. Hunter continued, “The focus of our business will be hemp products which continues the efforts started by our wholly-owned subsidiary . We will release details in the next several days of immediate moves we have made to disengage the company from products that we don’t believe are an important part of the company’s future. It makes no sense for us to spend human resources or capital resources on products that we don’t believe can achieve at least $25,000,000 in revenues.”
Mr. Hunter concluded by saying, “I am using my experience on Wall Street and my contacts to immediately improve the balance sheet of Dewmar so that we can properly execute our business plan. Details will be provided in the next few days."
About Dewmar International BMC, Inc.
Dewmar International BMC, Inc. is a certified service-disabled Veteran owned business concern, new product development, manufacturing and brand management company. Established in 2003, Dewmar’s primary business strategy has been in creating high profit margins with functional foods and beverages, such as Lean Slow Motion Potion, which is rated as one of the top 3 national selling relaxation beverages in the U.S. market and relaxation brownies. Additionally, Dewmar is the owner of , a user-friendly “retailer to consumer” information sharing platform that connects cannabis dispensaries to interested consumers. In 2014, Dewmar founded the , a Nevada based hemp incubator which partners with consumer brands to develop functional food and supplement products, and then help them expand their distribution channels through our existing relationships worldwide.
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