Cannabis Movers & Shakers: Green Growth, Halo Labs, Auxly, RWB
Here are the latest updates on leadership changes within the cannabis industry.
Green Growth's Interim CEO Randy Whitaker Resigns
Columbus, Ohio-based Green Growth Brands Inc. thanked interim CEO Randy Whitaker for his contributions to the company after the former Chief Operating Officer opted to resign.
Front office employees are expected to undertake Whitaker's duties until a replacement is appointed.
Green Growth has been struggling over the past few months to streamline its operations, following the pandemic onset.
In response, the company opted to cut its workforce and shut down its CBD operations, including mall-based CBD kiosks and CBD e-commerce platform.
Halo Labs Nominates Charles Kie To Board
Halo Labs Inc. (NEO: HALO) (OTCQX:AGEEF) nominated Charles Kie, New African Capital Partners' co-founder and CEO, for the role of director.
In South Africa, Kie served as Group Corporate Bank Head and also Group Executive of Corporate and Investment Banking for Ecobank Transnational Inc. Currently, he is a non-executive board member at Empower Families for Innovative Philanthropy (ERFIP) – Edmond de Rothschild Foundations – Switzerland.
The Toronto-based said Thursday that proposed nominees for the board of directors would be independent of the company's management if elected at the annual general meeting of the shareholders, scheduled for Wednesday, Oct.21.
Meanwhile, Halo recently partnered with Feel Better LLC, which does business as FloweShop, to produce and commercialize marijuana branded products. The company also purchased a 25% membership interest in Feel Better.
Auxly Shakes Up Its Board After Founder Chuck Rifici Departs
Auxly Cannabis Group Inc. (TSX.V – XLY) shook up its board of directors.
Genevieve Young, the current Independent Director on the Board, is promoted to the board's chairman's position, replacing Chuck Rifici, Auxly's founder and former CEO.
Young, who is also a Chair of the company's Audit Committee, serves as President and Chief Operating Officer of Canada's Global Public Affairs.
The board of the Toronto-based company also opted to welcome Vikram Bawa as a new Independent Director.
Bawa is a global marketing expert, having served in several consumer goods, electronics, and advertising companies, across North America, Asia, and Europe.
Previously, he served at Logitech S.A. as the Vice President and Head of Marketing – Asia Pacific, Europe, Middle East, and Africa.
CEO Hugo Alves, who will remain in his position, thanked Rifici for his contributions, adding that he "helped build Auxly from the ground up."
"Although I am resigning as Chair, I continue to support the Company as it enters this new chapter of growth," shared Rifici.
The company also named current Senior Vice President of Strategy, Michael Lickver, President, to "support the continued growth and execution of Auxly's strategic vision," the press release said.
Auxly also disclosed it would continue to pursue strategic alternatives for particular non-core assets as it is pawing its way toward achieving positive adjusted EBITDA.
In addition, in the second quarter of this fiscal year, the company posted a negative adjusted EBITDA (non-IFRS measure) of $7.8 million, the earnings report showed.
Red White & Bloom Expands Leadership Team
Bruner is appointed as a Director of Compliance & Diversity Inclusion and would assist with onsite operational compliance across all business entities for both RWB and its subsidiary.
Fentress, who brings sales and marketing experience within cannabis, hemp, food, beverage, and tobacco industries, is tapped as Director of Sales and Marketing.
McDonald, a former Olympian and NCAA All-American, was named VP Sales.
The Toronto-based company promoted Anne Hyde, who serves as President of MAG, to also oversee its operations as COO. She joined the RWB team upon MAG's acquisition.
Joseph Choi, who has been RWB's Corporate Controller since 2019, agreed to serve as its Director of Finance, as well.
"I am very pleased to welcome Margeaux, Jay, and Barry to the team and congratulate Anne and Joseph for earning expanded roles with the company,” commented Chairman and CEO Brad Rogers.
Meantime, RWB finalized the $35 million worth acquisition of Platinum Vape last month, on the heels of revealing its second-quarter results.
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