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Cannabis Movers & Shakers: General Cannabis, HEXO, Nabis, Doc Patels', Fyllo, Cannadips, Jushi

September 15, 2020 12:08 pm
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Yet again, we're sliding through the busy week with several corporate shake-ups in the cannabis industry.

General Cannabis Names New CFO, Shakes Up Board

General Cannabis Corp (OTCQB:CANN) opted for a change in its finance leadership, naming Diane Jones CFO.

Jones sharpened her accounting and financial skills while serving in executive roles in several publicly-held companies across multiple industries.

During her career, she served as Corporate Controller for the Americas at Cardino, and Worldwide Controller, and Senior Director of Shared Financial Services at Arrow Electronics, to name a few.

Steve Gutterman, CEO of General Cannabis Corp and a board member, said Monday they are “fortunate to add a CFO of Diane’s deep functional expertise, skills, and technical knowledge in all aspects of corporate finance and accounting.”

The Denver-based cannabis company also made some board changes, as its three independent Directors—Peter Boockvar, Mark Green, and Seth Oster— opted to step down.

The board welcomed Carl Williams, Richard Travia, and Barker Dalton to its ranks to replace them.

Williams brings years of financial experience. He was Planet Payment (NASDAQ:PLPM)’s chairman and CEO.

Travia is a cannabis investor and founder of Wildcat Advisory Group and Wildcat Investment Management.

Dalton is SevenFive Farm’s founder and Managing Director and has more than ten years of experience in the cannabis industry.

HEXO Welcomes Trent MacDonald As CFO

HEXO Corp. (TSX:HEXO) (NYSE:HEXO) welcomed Trent MacDonald to its team as its new CFO, succeeding Stephen Burwash, who will remain in the position through the transition period.

MacDonald has over 15 years of financial executive experience.

He served in several publicly ‎listed and private companies, including Rx Drug Mart, where he oversaw the financial department as well as Indigo and some of Sobeys’ (TSX:EMP) largest ‎divisions and regions where he served as VP of Finance.

HEXO’s co-founder and CEO Sebastien St-Louis said Monday they are “pleased” that MacDonald agreed to join them, adding they are “excited about the experience he brings.”

Meantime, in June, the Ottawa-based consumer packaged goods cannabis company confirmed its revenue increased by 30% sequentially, reaching CA$22.1 million ($16.2 million) in the third quarter of this fiscal year.

Tworek Resigns From Nabis Holdings’ Board Shortly After Joining

Nabis Holdings Inc. (CSE:NAB) (OTC:NABIFconfirmed Monday that James Tworek opted to leave the Company’s Board of Directors.

The decision was effective Sept. 11.

Tworek joined the board of the Vancouver-based investment company last month, replacing Director Yoni Ashurov.

AMP German Cannabis Group Appoints New Sales Director

AMP German Cannabis Group Inc. (CSE:XCX) (FSE: C4T) tapped Marc Wälken to oversee its sales department.

Prior to this, Wälken served as Areas Sales Manager and Key Account Manager at Spectrum Therapeutics, a brand of Canopy Growth Corporation's (TSX: WEED) subsidiary Canopy Growth Germany GmbH.

He was also a sales representative for Roche Pharma AG, The Roche Group's German division.

In his new role as Sales Director, Wälken would supervise implementing and managing sales strategies for the German importer of medical cannabis.

AMP's Director and President said Tuesday that Wälken's "broad experience in the pharmaceutical and medical cannabis industry would be critical in building AMP's national sales team," calling him "one of the leading experts in the industry."

Doc Patels' Taps Dakota Sullivan and Dr. Rachna Patel As CEO and CMO

CBD company Doc Patels' LLC has hired Dakota Sullivan as CEO, replacing Dr. Rachna Patel, who is appointed as a Chief Medical Officer — a newly created role.

Sullivan has over 15 years of experience in leading early-stage companies.

He is a co-founder of a wholesale distributor of THC and CBD products – Calyx Brands, Inc – where he also served as CEO.

Prior to venturing in the cannabis industry, Sullivan served as SVP general manager at Amobee and Velti.

"Doc Patels' is on the vanguard in one of the biggest opportunities in our lifetime," Sullivan said Tuesday.

The Oak Brook, Illinois-based company is founded earlier this year by Dr. Viren Patel, Joe Castelbuono, and David Ortiz.

Fyllo Hires Two Strategic Advisors, Taps Craig Robinson To The Board

Compliance technology platform Fyllo, which recently named Grassroots co-founder Mitchell Kahn, the board’s chairman, announced a set of new appointments.

The company tapped the former Dunkin Brands’ CMO and Digitas’s CEO Tony Weisman as Strategic Advisor.

Moreover, Omnicom Media Group’s EVP Steve Katelman was appointed to the same role.

Lastly, Craig Robinson, the former Global Head of Powered by We for WeWork and CEO of Global Corporate Services at Newmark Grubb Knight Frank, opted to join Fyllo’s board.

Meantime, the Chicago-based cannabis-data startup recently secured an additional $10 million through a Series A2 financing round.

Cannadips CBD Makes Changes To Personnel

Shortly after tapping a seasoned business leader, Maura Scott, to serve as its Chief Sales Officer and Chief Compliance Officer, Cannadips CBD’s exclusive licensee, Boldt Runners Corp., made some personnel shifts.

The Humboldt, California-based company appointed Case Mandel to serve as the Company's President, and Ryan Ulanch in the role of President of Commercial Operations.

Jushi Holdings Promotes Trent Woloveck To Chief Commercial Director

Jushi Holdings Inc. (CSE:JUSH) (OTCQB:JUSHF), which acquired Vireo Health International Inc.'s (CSE:VREO) (OTCQX: VREOF) Pennsylvania-based subsidiary earlier this year, promoted its Executive Vice President and Co-Head of Business Development Trent Woloveck to the Chief Commercial Director.

"With his vast knowledge of end-to-end business processes and commercial operations, Trent has been a tremendous asset to our company, and we're confident that he will continue to add value to our operations in his new role," Jim Cacioppo, the company's chairman, and CEO said Tuesday.

During his career, Woloveck served as TGS National Holdings, LLC's President and COO at American Cannabis Company.


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