Vireo Health has named John Heller, the outgoing chief financial officer of fitness company Lift Brands, as its new CFO. Heller, who supplants Shaun Nugent as CFO of the multistate cannabis firm, will take over on July 6, 2020, according to an announcement. He's Vireo’s second CFO in the last seven months.
Aurora Cannabis (NYSE: ACB) Inc. co-founder and former chief executive Terry Booth has departed the company’s board of directors, the Canadian firm said Monday. Booth has spent the last few months linking up with several drug companies, including investing in a startup called Red Light Holland Corp. that plans to produce psilocybin mushrooms for the Netherlands market.
Aurora Cannabis co-founder Steve Dobler will step down as president and board director at the end of the month, the company confirmed Tuesday. His departure marks the latest high-profile exit for the Edmonton, Alberta-based company, which has made a number of executive and board changes in recent months as it works to transform its business and reduce costs in 2020.
The co-founders of Los Angeles-based cannabis retailer MedMen are no longer involved with dispensary chain after vacating their board positions, the company announced Wednesday. In a news release, MedMen said co-founder and former CEO Adam Bierman had resigned from the board of directors. His partner and former president Andrew Modlin has also stepped down as a board observer.
Cresco Labs is set to name National Basketball Players Association executive director Michele Roberts to its board of directors this month. The Chicago-based cannabis firm, which currently owns 29 retail licenses and operates in nine states, will ask shareholders to elect Roberts and nine other directors to its board at an annual shareholders meeting on June 29 2020, according to a public filing.
Do higher executive compensation packages lead to better performance amongst publicly traded cannabis companies? Not exactly. A recent review of 96 cannabis firms by Bedford Consulting Group, a Canada-based executive search firm, found that organizations with well-compensated executives actually unperformed against the Bloomberg Intelligence Global Cannabis Index, Bloomberg noted.
Mark Dowley has resigned from iAnthus Capital Holdings’ board of directors, the company announced Friday. Dowley, and entrepreneur and marketer, joined the company’s board on December 5, 2019, as an independent director.
Stormy Simon’s time as CEO of Hightimes Holding Corp. has come to an end after just four months. Simon will be replaced by Peter Horvath, a former Victoria’s Secret and American Eagle executive, but continue to serve on the Hightimes board of directors.
In an effort to preserve cash, New York’s Acreage Holdings has made a number of strategic moves intended to help the company mitigate the economic impact of the coronavirus pandemic. In a press release issued last Friday, the company said it had temporarily furloughed 122 employees and closed certain U.S. operations.
Charlotte Figi, the young Colorado girl whose debilitating condition led to the development of an eponymous cannabidiol (CBD) brand called Charlotte's Web, died on Tuesday at the age of 13. Figi suffered from a rare form of epilepsy called Dravet syndrome and used CBD oil to help treat frequent seizures.