+ 0.74
+ 0.42%

Radient's Board To Review Operations, Appoints New CEO, COO Steps Down

September 18, 2020 12:52 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

Radient Technologies Inc. (TSXV:RTI) (OTCQX:RDDTF) is conducting a strategic review of the company's operations.

According to a Friday's update, the board of directors would evaluate costs and underutilized assets for the company to achieve positive cash flow.

The Edmonton, Alberta-based company, which recently posted its fourth-quarter earnings report, noted that the recent introduction of white label products will lead to future growth along with the ramping up of distribution to reach additional provinces.

The company also opted for some changes in the board, including naming Jan Petzel as Interim President and CEO.

Petzel, who served as the company's Director since 2016, is replacing Denis Taschuk on the position. Taschuk stepped down for family reasons and would remain as board's advisor.

The decision is effective immediately, the press release said.

Prior to joining Radient, Petzel served at Goldman Sachs Group (NYSE:GS) as Managing Director in the Merchant Banking Division.

He was also a member of the boards in several companies, including Cognis GmbH.

In addition, Chief Operating Officer Mike Cabigon opted to step down from the position to "pursue other interests," the company confirmed.

Courtesy image


Cannabis News Markets

Related Articles

Cannabis Movers & Shakers: TILT, Liberty Health, Ikänik Life, PlantEXT, Cann, Organigram

Here is a summary of the latest company shakeups within the cannabis industry. read more

TILT Expects Revenue Of $41M, Confirms Leadership Changes

TILT Holdings Inc. (CSE: TILT) (OTCQB: TLLTF) revealed Wednesday its revenue for the third quarter may reach $41 million. That’s a sequential increase between 4% and 6%. read more

Cannabis Movers & Shakers: Blueberries, Harborside, HEXO, Christina Lake, RespireRx

Here is a summary of the latest leadership changes within the cannabis industry. Blueberries Parts Ways With CEO Camilo Villalba  read more

Cannabis Movers & Shakers: Avicanna, Halo, Blockers BlockChain, Fyllo, Pet Releaf, Indus

Peruse the latest corporate shake-ups in the cannabis industry: Avicanna, Halo Elect Directors At Annual General Meetings of Shareholders read more