Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On December 23, 2020, via letter, Mr. David Still informed the Board of
Directors (the "Board") of Twinlab Consolidated Holdings, Inc. ("the Company")
that he was resigning from the Board and its associated Audit Committee
effective January 1, 2021. His resignation is not a result of any disagreement
with the Company.
Via unanimous written consent dated January 1, 2021, the Board appointed the
Company's Chief Executive Officer, Mr. Daniel DiPofi, to fill a vacancy on the
Board.
As previously disclosed, Mr. DiPofi, age 58, has served as a private equity
manager for Fishers Asset Management since July 1, 2019. He previously served as
executive vice president of the Buffalo Sabres of the National Hockey League
from 1994 to 1998, when he left to become chief financial officer of Hoffend &
Sons Inc., a custom engineering and design firm. In 2003, Mr. DiPofi returned to
the Buffalo Sabres and served as chief operating officer until 2012. Mr. DiPofi
was retired from 2012 until 2019. He has over 20 years' experience serving in
senior executive positions within the sports and entertainment industry. Mr.
DiPofi holds a degree in accounting from Niagara University.
Mr. DiPofi has (i) no arrangements or understandings with any other person
pursuant to which he was appointed to as a director, (ii) no family relationship
with any director or executive officer of the Company, and (iii) not entered
into any transactions with the Company that would require disclosure under Item
404(a) of Regulation S-K.
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