General Assembly Pizza Names Hormis Tharakan Chief Operating Officer

General Assembly Holdings Limited  announced that effective August 23, 2021, Hormis Tharakan has been appointed as the Company’s Chief Operating Officer.

Mr. Tharakan brings over 16 years of experience spearheading sustainable growth with some of the most innovative companies in North America’s food production sector. He is highly skilled in negotiations, strategic sourcing, purchasing, manufacturing, frozen food and inventory management which will be essential to GA Pizza’s accelerated future growth.

Mr. Tharakan recently held the position of Associate Vice President of Manufacturing with Nature’s Path Foods and will bring his previous supply chain, manufacturing, and leadership experience to the Company, “General Assembly is changing the pizza landscape and is well positioned to take a big slice out of the market. Ali and the team in place have an excellent pathway to growth. Together, we will focus on making sustainable, premium, delicious pizzas that will make our consumers happy and team members proud. I’m looking forward to working with the team to ensure we execute this plan and drive this business to further growth.” said Hormis Tharakan, Chief Operating Officer.

Mr. Tharakan is joining GA Pizza at an opportune time as the Company recently secured a 42,060 square foot master production facility to better meet consumer demand. Transitioning production operations from the Company’s 3,700 square foot restaurant to the new master production facility will be Mr. Tharakan’s immediate priority. The new facility’s initial production line is expected to be live in September, and producing 5,000 pizzas per shift, which is more than double GA Pizza’s current production capacity.

“I am thrilled to have Hormis join our team. He will be a big asset to our Company, particularly significant at this point in time, as we scale our production and distribution model. Hormis brings a wealth of experience in supply chain management and manufacturing.” said Ali Khan Lalani, Founder and Chief Executive Officer of GA Pizza.

The Company also announces the issuance to Mr. Tharakan of 50,000 stock options to acquire that same number of Class A Common shares in the capital of the Company at an exercise price of C$1.73 per share with 25% of such Options being exercisable on the first anniversary of the grant date, and 9.375% on a quarterly basis following the first anniversary of the grant date. The issuance of Options to Mr. Tharakan and his appointment as Chief Operating Officer is subject to TSX Venture Exchange approval.