Business
PLBY Group Names Marc Crossman COO and CFO
LOS ANGELES, March 22, 2023 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (the “Company” or “PLBY Group”), a leading pleasure and leisure lifestyle
About this update from Playboy, Inc.
[{"type":"text","content":"LOS ANGELES, March 22, 2023 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (the “Company” or “PLBY Group”), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, today announced the appointment of Marc Crossman as Chief Operating Officer and Chief Financial Officer. Lance Barton will remain with the Company as a strategic advisor to assist with an orderly transition. Mr. Crossman joins PLBY Group from Rizvi Traverse Management, where he was a Partner and was responsible for investment sourcing and evaluation of technology venture capital investments from May 2021 to March 2023. Prior to that, he served as the Chief Executive Officer of RealD Me (now known as Rain Technology), a consumer electronics company, from February 2019 to April 2021. From 2015 to January 2019, Mr. Crossman worked as a consultant and managed personal investments. Before RealD Me, Mr. Crossman served as the Chief Financial Officer of Joe’s Jeans Inc. from 2003-2006, and its Chief Executive Officer from 2006 to 2015, during which time he built the company into a leading premium denim brand with distribution in over 30 countries, a base of retail stores across the United States, and a domestic wholesale distribution platform in over 1,000 department and specialty stores. From 1999 until 2003, Mr. Crossman served as a Vice President and Equity Analyst with J.P. Morgan Securities Inc. “Marc brings a wealth of operating skills and financial discipline to the team, having been both a CEO in the consumer products and technology sectors and the CFO of a public company. I believe Marc will be able to unlock further cost savings beyond what we have already identified, as we move to a more capital light model with streamlined operations,” said Ben Kohn, Chief Executive Officer of PLBY Group. “Marc will hit the ground running as we focus on our profitable growth initiatives.” “I am thrilled to join Ben and the whole PLBY Group team,” said Mr. Crossman. “Having consulted with the Company for the past several weeks, I see tremendous opportunities to continue to streamline operations and build operational discipline across the entire organization. I also see significant opportunities to help create shareholder value by optimizing the assets we own and through the growth potential in the cre...