Whole Earth Brands appoints Ohri, Robinson as interim co-CEOs

Whole Earth Brands announced that the Board of Directors of the Company has implemented an executive transition in connection with its Special Committee’s review of the previously announced non-binding proposal received from Sababa Holdings FREE and the Board’s broader consideration of potential strategic alternatives. On July 16, 2023, the Board unanimously resolved to place Michael Franklin, Chief Executive Officer of the Company, on a leave of absence, effective immediately. The Board determined that such action was required so the Board may adequately discharge its fiduciary duties in connection with the evaluation of the previously announced, non-binding proposal received by the Company from Sababa on June 25, 2023, as well as other strategic alternatives that may be available to the Company including maintaining the status quo as a standalone publicly-traded company. In the interim, the Board has appointed Rajnish Ohri, the Company’s current President & Chief Operating Officer – International Business, and Jeffrey Robinson, the Company’s current President Mafco, to act as the Company’s Interim Co-Chief Executive Officers, effective July 16, 2023.