Yuenglings Ice Cream Corp appointed new CEO

Item 5.02 Departure of Director or Certain Officers; Election of Directors; Appointment of Certain Officers.


Yuengling's Ice Cream Corporation ("Yuengling's" or the "Company") announced on October 26, 2022, that Charles Green ("Green") and Robert C. Bohorad ("Bohorad") have signed a Letter of Intent ("LOI") whereas, upon the signing of the Definitive Agreement, Bohorad will resign as President and Chief Executive Officer and become the Chief Operating Officer and Chief Financial Officer and Green will become President, Chief Executive Officer, and a Director. As part of the transaction, Green and Bohorad will receive a combined 25% of the equity carry, which will increase upon reaching certain milestones. The Company expects the Definitive Agreement to be signed within 45 days.


Green, 68, currently serves as Managing Partner of the consulting firm, Desmond Partners. Green has 40+ years in the ice cream, logistics, and consumer packaged goods (CPG) industries. He initially started in ice cream with his cousin and grew their business into the largest independent distributor in the country. Green partnered with Ben & Jerry to become their first distributor outside of Vermont. After consulting to Ben & Jerry's on expansion, Green accepted a full-time position as Director of Sales. He directed the nation-wide expansion and eventual international expansion in countries such as the UK, Israel and Japan. Green later was promoted to Sr. Director of Sales & Marketing, Distribution, and Franchises. As a Board member, Green negotiated the sale of Ben & Jerry's to Unilever where he stayed as leader of the integration. Green remained at Unilever as Sr. Vice President and Executive Board Member for Unilever Ice Cream until his retirement. Subsequent to Green's departure from Unilever, some of his work included CEO of Brigham Ice Cream, CEO of Traders Point Creamery, Co-General Manager and Commercial Manager of Weetabix NA cereal products, CEO Backyard Farms indoor greenhouse, COO of Bongiovi Pasta Sauce, and CEO of Steve's Ice Cream. Through Chuck's consulting firm, Desmond Partners, he has worked with numerous other brands, such as Ample Hills, Jenni's Ice Cream, Sunkist Frozen, G&G Foods, Cold Snap Ice Cream Machines, SoCo Creamery, Barts Ice Cream, and several others.


Bohorad, 50, joined the Company as President and CEO on October 28, 2021 after being Chief Operating Officer of YIC Acquisitions Corp, a wholly-owned subsidiary of the Company. Prior to YIC Acquisitions Corp, Mr. Bohorad was the Chief Financial Officer and Chief Operating Officer of Yuengling's Ice Cream. Mr. Bohorad earned a Bachelor of Science degree with concentrations in Management and Marketing from the Wharton School of the University of Pennsylvania and a Master of Business Administration from Fordham University's Gabelli School of Management. Prior to Yuengling's Ice Cream, Mr. Bohorad worked for several companies in various stages of their life cycles and in numerous capacities, including finance, accounting, business & strategic development, operations, and human resources. While maintaining a diverse background, areas of particular focus include logistics, consumer products, medical devices, and software.


Neither Green nor Bohorad have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K, and neither Green nor Bohorad have any familial relationships with executives or directors of the Company.


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