In the latest shake up to management teams within the Canadian cannabis space, Harvest One Cannabis (TSXV: HVT) announced late last night that chief executive officer Grant Froese has resigned from his role, as well as a director, effective immediately. The resignation follows an ongoing strategic review that’s been conducted by the company as it struggles with liquidity.
Taking Froese’ place will be that of Andy Bayfield, who will be taking on the role of CEO on an interim basis. Bayfield is currently the chief commercial officer of the firm, and will now also be appointed as a director. Concurrently, Frank Holler will be appointed as Executive Chairman of the firm.
Bayfield has an extensive background in the field of consumer packaged goods, and joined the company in 2018. With past work experiences that include Cadbury, Coca-Cola, and Canada Dry Motts, he most recently served as Senior Vice President and General Manage of Dr. Pepper Snapple Group prior to joining Harvest One.
To allow for a smooth transition, Froese has agreed to work for the company on a consulting basis. A strategic review of Harvest One remains ongoing as the company continues to hold discussions related to divesting of non-core assets.
Harvest One Cannabis last traded at $0.06 on the TSX Venture.
Information for this analysis was found via Sedar and Harvest One Cannabis Inc. 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.
