Key Leadership Changes In Cannabis You Should Know About As We Head Into 2024
Portfolio Pulse from Jelena Martinovic
The cannabis industry is experiencing significant leadership changes as we head into 2024. The Indigenous Cannabis Industry Association (ICIA) hosted a roundtable to discuss hemp and cannabis regulation. Emerald Holding, Inc. (NYSE:EEX) promoted Emilie Lewis to oversee marketing for Marijuana Business Daily. MediPharm Labs Corp. (OTCQB:MEDIF) announced the resignation of board member Miriam McDonald. Lowell Farms Inc. (OTCQX:LOWLF) reported the departure of board member Brian Shure. Trulieve Cannabis Corp. (OTCQX:TCNNF) named Wes Getman as its new CFO, and Organigram Holdings Inc. (NASDAQ:OGI) appointed Greg Guyatt as CFO. Innocan Pharma Corporation (OTCQB:INNPF) established a team for FDA submission for its LPT CBD platform.
December 22, 2023 | 9:31 pm
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NEGATIVE IMPACT
Lowell Farms Inc. board member Brian Shure stepped down for personal reasons.
Board departures can create uncertainty among investors, potentially leading to a negative short-term impact on the stock price.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 80
NEGATIVE IMPACT
MediPharm Labs Corp. board member Miriam McDonald resigned, and the company will continue with five board members.
Resignations from the board can be seen as negative by investors, potentially leading to short-term stock price declines.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Emerald Holding, Inc. promoted Emilie Lewis to senior vice president, overseeing marketing for Marijuana Business Daily.
Leadership changes can have varying impacts on stock prices, but marketing roles are less likely to cause significant short-term movements compared to C-suite changes.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Innocan Pharma Corporation is preparing for an FDA submission for its LPT CBD platform with a newly established specialized team.
The formation of a specialized team for FDA submission indicates progress in product development, which could positively impact investor confidence and the stock price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 85
POSITIVE IMPACT
Organigram Holdings Inc. announced Greg Guyatt as the new CFO, effective Jan. 8, 2024.
New CFO appointments can be a sign of strengthening financial leadership, which may positively influence investor sentiment and stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Trulieve Cannabis Corp. appointed Wes Getman as its new CFO, effective Jan. 1, 2024.
The appointment of a new CFO with extensive experience could be viewed positively by investors, potentially leading to an uptick in stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90