Cannabis Vet Bruce Linton Out At Vireo
Vireo confirmed late Monday that it "elected to terminate its employment agreement" with Linton, who had been executive chairman, effective immediately.
"We wish Bruce well in his future endeavors," Vireo CEO Kyle Kingsley said in a prepared statement. "Our organization will remain focused on executing a strategy which benefits all stakeholders and developing our core medical markets of Arizona, Maryland, Minnesota, New Mexico, New York, and Pennsylvania."
The Vancouver, Canada-based company did not disclose why it chose to terminate Linton's employment.
A successor has not been named and Vireo said it does not expect to fill Linton's vacated executive chairman role.
Linton joined Vireo in November. His term on the Vireo board of directors was set to expire at the company's July 15 annual meeting of shareholders.
Linton is the co-founder and former CEO of Canopy Growth (NYSE:CGC). Under Linton's guidance, the Smiths Falls, Ontario-based cannabis giant became the first North American company within the cannabis market to become listed on a major stock exchange, the TSX.
He now serves on the advisory board for psychedelics company Red Light Holland.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.