Namaste Technologies Interim CEO Talks About Rebuilding Trust In The Cannabis Company

The past few months have been trying for the Canadian cannabis technology and e-commerce brand Namaste Technologies Inc NXTTF. In February, the company fired CEO Sean Dollinger.

Interim CEO Meni Morim told Benzinga he's overseeing a reclamation project of sorts at the company that's centered on streamlining its focus, delivering value and renewing investor trust. The company now places a premium on internal governance and responsibility, Morim said.

"We're being compliant. We're focusing on what's right. We're not creating risk for our shareholders. We're creating value for our shareholders," the interim CEO said. "There's a lot of cleaning up to do, and we're doing that."

Need more cannabis news? Check out all of our coverage here.

'Future Of Work' Principles

Human capital is now a prime focus for Namaste, Morim said.

"It is really important, because everybody needs to remember that there was nothing more important in our industry than people."

To reach its goal of acquiring and retaining top talent, the company consulted with senior external HR leaders to assess where Namaste stood as a company, Morim said.

Namaste now embraces pillars of the "future of work" movement, Morim said, adding that this includes having an agile office where people can work remotely if needed.

Namaste hopes to harness all its assets to provide a platform that gives customers access to all aspects of the market, from growers to manufacturers to physicians, Morim said.

Building An E-Commerce Experience

The focus on its new goals is something Namaste lost along the way, Morim said.

"We don't want to grow. We don't really compete with the LPs. It's not something we do well. We don't want to design, manufacture or own products," he said.

"What we understand is how to build seamless user experiences online and how to facilitate the delivery of products once the purchase is made."

With these efforts, Namaste hopes to bring about renewed investor confidence.

Morim said he hopes to further achieve this by building and delivering on company fundamentals, revenue growth, market share, user experience, NPS scores and customer satisfaction.

While much is occurring internally, the interim CEO said the company needs to convey that developments will unfold more slowly from an external perspective.

Need more cannabis news? Check out all of our coverage here.