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SAN DIEGO, May 06, 2019 (GLOBE NEWSWIRE) -- Driven Deliveries, Inc., (DRVD), the American’s first and only publicly traded cannabis delivery company, announced today that Mr. Christian Schenk has been named its new Chief Executive Officer, effective on May 3, 2019. Mr. Schenk succeeds Chris Boudreau, who served as CEO since Driven’s inception. Mr. Boudreau will remain in an advisory role with the company.
Mr. Schenk is a Canadian born entrepreneur and investor with a proven track record of success within the transportation technology sector. He has previously developed and sold two telematics companies; Telkar based in Canada and Elcon based in Europe. In 2010 Schenk joined XATA following the acquisition of Turnpike Global and Geologic. Mr. Schenk was tasked with merging three distinct businesses into a single entity and solution which once complete lead to the rebranding of the company to XRS (NASDAQ; XRSC). XRS was sold to Omnitracs in 2014 for $178M. Schenk recognized the opportunity to shift many of the IoT (Internet of things) learnings such as data analytics, machine learning and predictive modeling to the Social and Content Marketing sector.
“Management is looking forward to leveraging Mr. Schenk’s extensive knowledge of transportation technology and his extensive industry relationships,” said Mr. Brian Hayek, Co-founder and President of Driven Deliveries, Inc. “The addition of Christian is another example of Driven’s commitment to establishing a strong portfolio of human capital, capable of building and maintaining long-term growth platform.
Mr. Hayek continued, “Management would also like to thank Chris Boudreau for his service to the company. Chris was instrumental in assisting Driven through the go-public process and securing our initial cannabis delivery licenses. We wish him well in his future endeavors.”
In 2017 Schenk entered the payments industry where he formed several new ventures including a freight factoring alternative, BNK which pays truck drivers based on achieving route defined milestones and IPTS a recreation & hospitality employee same day pay solution that enables employees to get paid daily vs waiting till payday. Schenk holds several board seats in the rideshare, supply chain and mobile technology industries. Previously, he formed one of the largest networks of professional truck drivers, ONE20 which was sold in mid 2017. ONE20 offered routing, navigation and social intelligence to its more than 700,000 members and monetized by selling content and advertising based on personal personas, relevance and location.
“Driven is in such an incredible position to dominate the cannabis delivery and distribution markets,” said Christian Schenk. “Looking at the current valuations and capital placement in the freight and ride share categories it is my intention to leverage past learnings and partnerships to further separate Driven from its single threaded competitors. We will focus on solid sustainable business ventures while keeping an eye on healthy growth both inside our core markets and expanding into new states and potentially north of the border. We know where the brands need our help and we know how to build loyal customers. The cross section of those strengths will be where we deliver the most value to the industry and our shareholders"
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Driven Deliveries, Inc. first and only publicly traded cannabis delivery service operating within the United States and listed on American Exchanges. Founded by experienced technology and cannabis executives, the Company provides on-demand marijuana delivery, in select cities where allowed by law. Driven provides the legal cannabis consumers the ability to purchase and receive their marijuana in a fast and convenient manner. By 2020, legal cannabis revenue in the U.S. market is projected to hit $23 billion. In leveraging consumer trends, and offering a proprietary, turnkey delivery system to its customers, management believes it is uniquely positioned to best serve the needs of the emerging cannabis industry and capture notable market share within the sector. For more information, please visit https://GoDriven.com/ and review Driven’s filings with the U.S. Securities and Exchange Commission.