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Tobacco

Turning Point Names New CFO

OTP company reshapes its internal finance team

LOUISVILLE, Ky. -- Tobacco manufacturer Turning Point Brands Inc. has appointed Robert Lavan to chief financial officer. Meanwhile, the maker of other tobacco products promoted two additional executives into new financial roles.

Lavan has a background with both publicly traded and private equity-backed companies and brings to the company experience in developing e-commerce platforms, expanding distribution networks and executing mergers and acquisitions, as well as experience with information-technology infrastructure. In 2017, Lavan served as CFO of General Wireless Operations Inc., Fort Worth, Texas, where he was responsible for revamping the company’s financial reporting systems and building a distribution platform that linked multiple e-commerce sites and Amazon.

Commenting on the appointment, Larry Wexler, president and CEO of Turning Point, said, “We are thrilled to welcome Bobby to our leadership team as we enter our next stage of growth. We certainly expect that Bobby’s depth of experience with acquisitions, transaction finance, accounting and negotiations will prove to be an invaluable asset as we continue to scale and expand our operations.”

Lavan will succeed the company’s previous CFO, Mark Stegeman, who Wexler thanked for his tenure at the company and for helping Turning Point with its initial public offer.

In addition to Lavan’s new position, Turning Point announced that Brian Wigginton, the company’s current chief accountant, will be promoted to vice president of finance and chief accounting officer, while Brad Beard, the company’s current controller, will be promoted to vice president of finance, business planning.

Louisville, Ky.-based Turning Point is a provider of other tobacco products, with brands such as Stoker’s and Zig-Zag.

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