48North Cannabis announced the sudden departure of Chief Executive Officer Alison Gordon, who led the Toronto-based producer for almost three years.
Gordon was among a small number of women at the helm of a Canadian marijuana company.
One year ago, a Marijuana Business Daily study found that men held 93% of Canadian cannabis boardroom positions.
“On behalf of the entire 48North team and our Board of Directors, I would like to thank Alison for her trailblazing leadership during her three years as 48North’s CEO,” board Chair Martin Cauchon said in a statement.
No reason for the executive change was provided.
The news release did not include a statement from Gordon.
A spokesperson for the company said Gordon remains on 48North’s board.
Gordon, who was featured in Marijuana Business Magazine’s Women to Watch in 2019, leaves the company amid a flood of cannabis CEO departures.
Most large marijuana producers replaced their CEO or other senior executives in the past year.
According to a corporate disclosure late last year, Gordon is entitled to six months of compensation, plus an additional month for each year of employment in the event of termination without cause.
According to the same filing, Gordon’s total compensation for the year ending June 30, 2019, was 2.52 million Canadian dollars ($1.8 million), which included a salary of CA$262,500.
Shares of 48North Cannabis trade on the Toronto Venture Exchange as NRTH.
Matt Lamers is Marijuana Business Daily’s international editor, based near Toronto. He can be reached at [email protected].
Pure CBD Hemp Oil
- Pure CBD Tincture, derived from organic, US-harvested hemp, lab-tested for quality.
- Clinically proven therapeutic effects.
- Relieves anxiety and stress
- Eliminates chronic pain and aches
- Regulates mood and sleep patterns
- Enhances focus and clarity
George Scorsis Liberty Health Sciences
Originally posted on Gordon no longer at 48North helm in latest cannabis CEO departure via Cannabis Industry News
No comments:
Post a Comment