Galexxy Holdings Inc. Announces New Company with Tyler Whitehead as CEO and Co-Founder
Rhea-AI Summary
Galexxy Holdings Inc. announces the creation of a new company, Adaptin, , focusing on the functional mushroom and adaptogen market. Adaptin aims to tap into the rapidly growing $32B global market by offering innovative products and business models. Tyler Whitehead is appointed as CEO and Co-Founder, with Galexxy maintaining a 56.5% ownership stake. The partnership aims to drive innovation, expand globally, and enhance customer engagement.
Positive
Creation of a new company, Adaptin, , to capitalize on the $32B global functional mushroom and adaptogen market.
Appointment of Tyler Whitehead as CEO and Co-Founder, bringing over 45 years of combined experience in nutrition, personal care, and beauty companies.
Strategic decision to dissolve Galexxy, , focusing on the new venture with Adaptin in the rapidly growing wellness market.
Focus on innovative products and new business models to cater to health and wellness customers and brand creator advocates.
Galexxy Holdings maintains a 56.5% ownership stake in Adaptin , showcasing commitment to funding and supporting sustained success.
Negative
Retirement of Geza Molnar as CFO and Board Member, indicating a change in the leadership team.
Transition from Galexxy to Adaptin may pose challenges in brand recognition and market positioning.
News Market Reaction 1 Alert
On the day this news was published, GXXY gained 0.17%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEWPORT BEACH, CA / ACCESSWIRE / May 1, 2024 / Galexxy Holdings Inc. ("Galexxy" or "Company") (OTC PINK:GXXY) funds Adaptin, a new company in the expanding
Galexxy Holdings, Inc. is pleased to announce the creation of a new company, Adaptin, LLC ("Adaptin"). The new company will provide enhanced opportunities in the rapidly growing functional mushroom and adaptogen market, valued at USD
"We are thrilled to embark on this transformative journey along with Tyler and Elizabeth," said Michael Biagi, CEO of Galexxy. "We are fortunate to have their vision, along with over 45 years combined experience leading nutrition, personal care, and beauty companies, as we bring innovative products and new business models to market." Tyler Whitehead has been appointed CEO and Co-Founder and Elizabeth Thibaudeau has also joined Adaptin as a Co-Founder.
Adaptin's strategic approach will create new accessible categories of potent, clean, and safe adaptogens combined with powerful and transparent new omnichannel compensation plans to provide unparalleled opportunities for its community of health and wellness customers and brand creator advocates.
"We are excited to partner with Mick and the strength of the team at Galexxy to continue to innovate and bring new wellness solutions into the rapidly changing direct selling landscape," said Tyler Whitehead. He continued, "with an aligned shared vision for Adaptin, and I looking forward to bringing this business forward."
Galexxy Holdings, Inc. will maintain a
Galexxy is also announcing the retirement of Geza Molnar as CFO and Board Member, and Tyler will be appointed to the Galexxy Holdings Board of Directors.
Fill out the Contact Us form to receive a 2-page document on how to participate.
https://galexxyholdings.com/#contactus
Contact:
Galexxy Holdings Inc.
Rachel Fyffe, VP Communications
E: Rachel@galexxyholdings.com
O: (949) 418-7450
Forward-Looking Information
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, and projections as of the date of this press release.
www.galexxyholdings.com
www.wellbeingfarms.com
www.galexxy.com
SOURCE: Galexxy Holdings Inc.
View the original press release on accesswire.com
FAQ
Who is the new CEO and Co-Founder of Adaptin, ?
The new CEO and Co-Founder of Adaptin, is Tyler Whitehead.
What market is Adaptin focusing on?
Adaptin is focusing on the functional mushroom and adaptogen market.
What is the expected growth rate of the functional mushroom and adaptogen market through 2030?
The functional mushroom and adaptogen market is expected to grow at a compound annual growth rate of 11.2% through 2030.
What is Galexxy Holdings' ownership stake in Adaptin ?
Galexxy Holdings maintains a 56.5% ownership stake in Adaptin
Who is retiring from Galexxy Holdings as CFO and Board Member?
Geza Molnar is retiring from Galexxy Holdings as CFO and Board Member.
