Why A National Cannabis Organization Sacked Half Its Staff, CEO Turnovers And More Exec Changes
Portfolio Pulse from Jelena Martinovic
The National Cannabis Industry Association (NCIA) has laid off nearly half of its workforce to reduce costs and remain financially sound in 2023. Avant Brands elected six directors at its annual general shareholders meeting. SciSparc appointed Yaki Baranes as its new strategy and business development VP. Incannex Healthcare added three psychedelic therapy and science experts to its advisory board. XS Financial promoted Justin Vuong to CFO. Acreage Holdings announced the resignation of CEO Peter Caldini, with Dennis Curran taking over. Jones Soda welcomed Ronald Dissinger to its board of directors. Schwazze promoted Nirup Krishnamurthy to CEO.
June 05, 2023 | 1:47 pm
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NEUTRAL IMPACT
Acreage Holdings CEO Peter Caldini resigns, with COO Dennis Curran taking over on July 1.
The change in leadership at Acreage Holdings is significant, but it is unclear how it will impact the stock price in the short term. Dennis Curran has extensive leadership experience and is expected to continue the company's growth trajectory.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Avant Brands held its annual general shareholders meeting and elected six directors.
The election of directors at Avant Brands' annual general shareholders meeting is a routine event and is unlikely to have a significant short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 100
NEUTRAL IMPACT
Schwazze promoted Nirup Krishnamurthy to CEO, with former CEO Justin Dye continuing as non-executive chairman.
The promotion of Nirup Krishnamurthy to CEO at Schwazze is a significant change in leadership, but it is unclear how it will impact the stock price in the short term. Justin Dye will continue to lead the board as non-executive chairman.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
XS Financial promoted Justin Vuong to CFO, replacing Stephen Christoffersen.
The promotion of Justin Vuong to CFO at XS Financial is a notable change in the company's leadership, but it is unclear how it will impact the stock price in the short term. Stephen Christoffersen will remain on the board and serve in other roles.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 100
POSITIVE IMPACT
Incannex Healthcare added three psychedelic therapy and science experts to its advisory board.
The addition of three psychedelic therapy and science experts to Incannex Healthcare's advisory board could have a positive short-term impact on the stock price, as it demonstrates the company's commitment to advancing its psychedelic research and development.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Jones Soda welcomed Ronald Dissinger to its board of directors.
The addition of Ronald Dissinger to Jones Soda's board of directors could have a positive short-term impact on the stock price, as he brings extensive financial experience in the consumer packaged goods industry.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 100
POSITIVE IMPACT
SciSparc appointed Yaki Baranes as its new strategy and business development vice president.
The appointment of Yaki Baranes as SciSparc's new strategy and business development VP could have a positive short-term impact on the stock price, as it signals the company's focus on growth and strategic planning.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100