Founder Also Aannounced 2 Pending Independent Additions to the Board of Directors to be Appointed Within Weeks
LOS ANGELES, CA / ACCESSWIRE / January 14, 2015 / P. Vincent Mehdizadeh - Founder and Majority Shareholder of Medbox, Inc. (OTCQB: MDBX) thanked CEO Guy Marsala and Chairman Ned L. Siegel for their distinguished service to the company during the 20-day period from when the consent action was filed and mailed to shareholders, and when the action will take effect, estimated to be January 29, 2015.
"During the period prior to effectiveness of the written consent action, I am thankful to Guy and Ned for appearing at investor conferences and continuing to carry our corporate message forward," stated Vincent Mehdizadeh, Founder and Majority Shareholder, at Medbox. "The newly elected directors can't wait to roll up their sleeves and make an immediate impact by month's end."
Mehdizadeh also announced 2 new independent director appointments, scheduled to be formalized once the revamped board, which was announced on January 9, 2015, is in office later this month.
The new independent additions will be:
Luke Kleyn, R.Ph.
Chief Operating Officer - KMR Pharmacy Advisors
Mr. Kleyn is a Registered Pharmacist with more than 36 years of leadership experience in the pharmacy industry. He is known in the marketplace for developing innovative strategies to optimize growth, financial outcomes and improved operations while mitigating risk. He was Regional Vice President of PBM Sales & Service and Vice President of Clinics for the Walgreen's Company. Mr. Kleyn was the primary architect for Walgreen's 90-Day Retail strategy, and was responsible for many emerging strategies including the launch of On-Site Pharmacies at Medical Centers & Specialty Clinics and the launch of Walgreen's Take Care Clinics (now Healthcare Clinics).
Currently, Mr. Kleyn is the Chief Operating Officer with KMR Pharmacy Advisors. KMR provides independent pharmacy consulting, with specific focus on all aspects of pharmacy, for retail pharmacies, hospitals, medical centers, PBM's and managed care organizations. He has developed highly customized solutions for his clients and understands the unique complexities inherent with the growth, financial, operational and risk management related to pharmacies.
Eric M. Kennedy, Esq.
Partner - Payne and Fears
Eric Kennedy is a partner in the Los Angeles office where his practice focuses on commercial litigation. Mr. Kennedy has substantial experience in both state and federal court and has tried cases on both coasts.
Mr. Kennedy has represented Fortune 500 companies in numerous industries, including petroleum, computer manufacturing and distribution, action sports, retail, banking, real estate development and finance, for profit education, multi-level marketing, software development, food services, and gaming.
Mr. Kennedy is the immediate past chair of the Orange County Chapter of the BYU Management Society. He is an active member of both the American and California State Bar Associations. He has volunteered time for the Public Law Center, the Constitutional Rights Foundation, and the J. Reuben Clark Law Society.
Prior to joining Payne & Fears, Mr. Kennedy practiced with Latham & Watkins and Jones Day.
"These soon to be elected independent board members have accepted invitations to sit on the board at a fraction of what the company was paying to its prior independent board members," stated Matthew Feinstein, pending board member/interim CEO at Medbox. "We are hoping to add yet another independent director to the newly elected board by mid-February, which will again give the company a majority of independent board members, while still receiving critical input and direction from key personnel that helped Medbox to succeed in the first place."
About Medbox, Inc:
Medbox is a leader in the development, sales and service of automated, biometrically controlled dispensing and storage systems for medicine and merchandise. Headquartered in Los Angeles, Medbox, through its wholly owned subsidiary, Medicine Dispensing Systems, offers their patented systems, software and consulting services to pharmacies, alternative medicine dispensaries and local governments in the U.S. In addition, through its wholly owned subsidiary, Vaporfection International, Inc. (www.vaporfection.com), the company offers an industry award-winning medical vaporizer product. Medbox, through its newly established subsidiaries, is in development of the following ancillary services catered to the alternative medicine industry: merchant services and armored transport for cash deposits, cannabidiol research and development, real estate acquisitions and subsequent lease programs to alternative medicine dispensaries, and alternative medicine dispensary management services.
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SOURCE: Medbox, Inc.