Dhaliwal Departs Supreme Cannabis, Moore Named as Interim CEO

The Supreme Cannabis Company (TSX: FIRE) appears to have a slight leadership problem. Following the sudden departure of John Fowler late last year, current CEO Navdeep Dhaliwal has now left his role effective immediately. It is unclear if Dhaliwal was forced out of the company, or if his sudden departure was his own doing. In his place, the board of directors has elected to focus operations on a consumer packaged goods (CPG) model, versus that of a cannabis cultivator.

As a result of focusing operations on a CPG model, Supreme Cannabis has appointed Colin Moore, former president of Starbucks Coffee Canada, as the interim president and chief executive officer. Supreme is in the process of finding a permanent replacement for the role via a national search to find the individual that will “lead Supreme Cannabis in its next phase of profitable, long-term growth.”

Today, with Supreme Cannabis firmly established as one of the world’s fastest-growing, premium plant driven-lifestyle companies and our industry entering its second phase, the Board determined that the Company would benefit from leadership with the skills and experience to accelerate our growth and transformation into a leading cannabis CPG company.

Michael La Brier, Chairman of Supreme Cannabis

Notably, this mornings press release failed to thank Dhaliwal for his time at the company, despite the efforts he took with Fowler to build the business to the brand it has become today. The release instead focused on Moore, despite Moore being appointed as the interim CEO rather than the permanent replacement.

Supreme Cannabis last traded at $0.63 on the TSX.


Information for this analysis was found via Sedar, The CSE and Supreme Cannabis. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Mergers Set the Stage for Uranium’s Growth Cycle | Forum-Baselode Merger

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Recommended

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

Related News

Supreme Cannabis: Stifel-GMP Raises Price Target To $0.55 Following Q2 Results

Last week, The Supreme Cannabis Company (TSX: FIRE) announced its second quarter 2021 financial results....

Wednesday, February 17, 2021, 10:48:00 AM

Supreme Blows Out Share Structure Converting $63.5 Million In Debt To Shares

The Supreme Cannabis Company (TSX: FIRE) finally announced the inevitable this morning, with the company...

Tuesday, August 4, 2020, 08:44:43 AM

Supreme Cannabis Issues 116.6 Million Common Shares In Exchange For $63.5 Million In Debentures

The Supreme Cannabis Company (TSX: FIRE) has finally begun to solve one of its pressing...

Monday, August 31, 2020, 08:33:22 PM

Supreme Cannabis Files For $9.75 Million ATM Offering

The Supreme Cannabis Company (TSX: FIRE) this afternoon filed paperwork with Sedar indicating that the...

Friday, April 24, 2020, 02:26:33 PM

Supreme Cannabis Sees Oil Sales License Awarded, Insider Sales

Blissco, a subsidiary of The Supreme Cannabis Co (TSX: FIRE) was awarded an oils sales...

Sunday, October 6, 2019, 06:17:39 PM