BRC Welcomes Major General and Chip Molloy

By Bobby Samwell • Tuesday, June 11 18:02 • Permanent Link

Black Rifle Coffee Company (NYSE: BRCC) has made significant changes to its Board of Directors with the appointment of Major General Clayton Hutmacher and Lawrence “Chip” Molloy. Major General Hutmacher, who served at every level in the U.S. Special Operations community and retired as a Major General, has been appointed as President and CEO of the Special Operations Warrior Foundation. On the other hand, Lawrence “Chip” Molloy, with extensive financial, consumer, and retail experience, has joined the Board bringing his expertise from his former roles as CFO of numerous public consumer companies.

Chip Molloy's experience includes serving as the CFO of Sprouts Farmers Market Inc., Interim Chief Executive Officer at Torrid, and Chief Financial Officer for Under Armour and PetSmart. He was also named Institutional Investor’s CFO of the Year for Specialty Retail in 2011. Notably, Molloy also served as a U.S. Navy fighter pilot for 10 years, retiring from the Naval Reserve with the rank of Commander.

These new appointments are expected to provide Black Rifle Coffee Company with invaluable perspectives as they continue to execute their strategy, build long-term value for their shareholders, and serve the military and first responders community. The company has emphasized its unique mission-driven approach, and the new directors are expected to bring a broader and more diverse cache of experience to support the company's service-forward mission.

Black Rifle Coffee Company, which was founded in 2014 by Green Beret Evan Hafer, is known for its commitment to supporting Veterans, active-duty military, first responders, and the American way of life. The company's explosive roast profiles are developed with the same mission focus learned while serving in the military. Following these announcements, the company's shares moved -2.1%, and are now trading at a price of $6.03. For the full picture, make sure to review BRC's 8-K report.

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