What do you do when things have become so bad that no one wants to even helm a public company? Green Growth Brands (CSE: GGB) is about to find out. The company announced this morning that its interim CEO, Randy Whitaker, has resigned from his post at the company effective September 30, 2020.
In Whitaker’s place will be.. no one. It appears that no one wants the role of chief executive even on an interim basis, given that the company is currently working its way through insolvency proceedings under the Companies Creditors Arrangement Act.
As a result of this, the company has indicated that it will see certain of its front office staff and operations employees assume the duties now left unattended with Whitaker’s departure. These employees will then report to the board of directors of the company directly as the firm continues with its insolvency proceedings.
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Green Growth Brands last traded at $0.025 and has been suspended from trading since July.
Information for this briefing was found via Sedar and Green Growth Brands. 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. The author holds no licenses.
