Sunday, June 1, 2025

Latest

Ascend Wellness Terminates CEO, CFO Over Performance Challenges

Ascend Wellness (CSE: AAWH-U) has terminated the employment of both its chief executive officer as well as its chief financial officer, with its executive chair citing recent performance challenges as the reasoning behind the move.

John Hartmann, the outgoing CEO of the company, served in the role for a little over a year, following his appointment to the position last May. His appointment at the time was said to be part of the transition from a founder-led company to a professional-led organization. Mark Cassebaum, the now-former CFO, meanwhile joined the company only ten months ago, having previously served as the senior VP of finance and operations for the now-defunct Bed Bath & Beyond.

Samuel Brill, a current director for Ascend, is now to take on the role of CEO. Brill is credited as being behind the recent $235 million refinancing package that closed in July. The company is also seemingly tossing out the idea of not being founder-led, with co-founder Francis Perullo to take on the role of president. Chief accounting officer Roman Nemchenko meanwhile has been appointed as CFO.

“The leadership changes come as part of a broader effort to realign our strategy and address recent performance challenges. We are confident that the changes will bring our focus back to the basics with an emphasis on the fundamentals and will position AWH for future success,” commented Abner Kurtin, executive chair of the board and a founder of Ascend.

Ascend Wellness last traded at $0.96 on the CSE.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization unless otherwise mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

First Majestic Silver: The Santo Nino Discovery

Avino Silver Q1 Earnings: The Record Streak Continues!

Aya Gold & Silver Q1 Earnings: From Kitchen Sink to Record Results

Recommended

First Majestic Silver: The Santo Nino Discovery

Brazil Potash Completes Site Prep For Port Terminal

Related News

Ascend Wellness Raises US$210 Million From 9.5% Senior Secured Debt Financing

Ascend Wellness Holdings, Inc. (CSE: AAWH.U) reported today that it recently closed a US$210 million...

Monday, August 30, 2021, 10:22:00 AM

Ascend Wellness Reaches Settlement With MedMen To Acquire New York Assets

It appears that attempting to void a sale agreement with Ascend Wellness Holdings (CSE: AAWH.u)...

Wednesday, May 11, 2022, 08:12:42 AM

Ascend Wellness Sees CEO Abner Kurtin Charged With Battery

The chief executive of Ascend Wellness (CSE: AAWH) appears to have gotten himself into a...

Wednesday, September 7, 2022, 08:24:52 AM

Ascend Wellness Continues To Fight Medmen Over New York Asset

After losing its New York investment arrangement with Medmen Enterprises (CSE: MMEN), it appears that...

Thursday, January 6, 2022, 08:08:30 AM

Ascend Wellness: Canaccord Initiates With US$15 Price Target

Canaccord Genuity is the first investment bank to initiate coverage on Ascend Wellness (CSE: AAWH.u)....

Tuesday, May 25, 2021, 03:12:00 PM