A series of LP executives have exited their positions recently as companies across the sector continue to struggle.
- This week, Sundial Growers’ director and CEO Torsten Kuenzlen stepped down “to pursue other interests.” Board member Zach George becomes CEO. Meanwhile, Sundial executive chair Ted Hellard stepped down (but will still serve on the board), and COO Brian Harriman is leaving the company (Sundial’s president of Canadian operations, Andrew Stordeur, will take his place).
MJ Biz Daily - The era of executive departures began in July with Canopy sacking co-CEO and co-founder Bruce Linton, the best known executive in the sector. Recently, Aurora shed two c-suite members, including CCO Cam Battley.
The Star, Lexichronic - Supreme sacked CEO Navdeep Dhaliwal three weeks ago, while Canopy, Cronos Group, Hexo, and Tilray have recently replaced their CFOs.
Press Releases - Flowr lost five executives, including their CFO.
Twitter—David George-Cosh
This week, TerrAscend CEO Michael Nashat resigned and FreshDirect founder Jason Ackerman took over as interim CEO.
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- The same day as Nashat’s resignation, TerrAscend’s wholly owned online marketplace Solace Health announced it will cease selling and distributing MED effective February 7.
- Solace’s patients were encouraged to transfer their files to LP James E. Wagner Cultivation.
Twitter—Matthew Columbro - TerrAscend also announced it canceled a plan to acquire a US vertically integrated company.
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