On July 18, 2022, Allen Arroyo was appointed as Chief Financial Officer of Rocky Mountain Chocolate Factory, Inc. effective August 1, 2022. Mr. Arroyo succeeds Bryan J. Merryman as Chief Financial Officer after his retirement from the Company after 24 years of service with the Company. Mr. Arroyo, age 62, has over 30 years of experience in the franchising and foodservice industries.

Mr. Arroyo most recently served as the Chief Financial Officer of Nevoa Life Sciences, Inc., which creates disinfecting solutions for the healthcare industry, from September 2020 to July 2022. From 2017 to 2020, Mr. Arroyo served as an advisor or Chief Financial Officer of Concept Entertainment Group (2019 to 2020), a hospitality management company, Due North Holdings LLC (2017 to 2019), a holding company that owned and franchised multiple restaurant brands, and FTR Hospitality (2020), which provides back-office accounting and technology services for multi-unit restaurant organizations. Mr. Arroyo also previously served as Chief Financial Officer of various private companies in the food industry, such as Blaze Pizza, LLC (2014 to 2017), Z'Tejas, Inc. (2011 to 2013) and Mastro's Restaurants, LLC (2007 to 2011).

From 2000 to 2007, Mr. Arroyo served as Corporate Controller of IHOP Corp., the predecessor company of Dine Brands Global, Inc. Mr. Arroyo holds a Bachelor of Science in Accounting from California State Northridge University and Master of Business Administration from Pepperdine University.