Hexo Corp Replaces CEO After Six Months, Appoints New CFO

Hexo Corp (TSX: HEXO) continues to see members of its management team jump ship as it struggles to right size its operations. After announcing just days ago that it would be shuttering another facility, the company has now replaced both its CEO and CFO.

Scott Cooper has left the company after a short stint as President and CEO. Cooper was appointed to the role on October 20, meaning his term lasted a little over six months. He came to the company view Truss Beverage Co, the firms joint venture with Molson Coors, where he was President and CEO.

Taking on the role of CEO and President going forward will be that of Charlie Bowman, whom will take the titles on an “acting” basis until the completion of Health Canada security clearances. He previously served as the Acting Chief Operating Officer, as well as the general manager of Hexo USA. It is unclear at this time if the role of COO is to be refilled.

The firm this morning also announced that it has found a new permanent CFO after several months of searching. Julius Ivancsits will be taking on the role going forward, although he currently is holding an “acting” title as well, pending Health Canada clearances. Curtis Solsvig, the previous acting CFO, will be leaving the company as of May 31.

Hexo Corp last traded at $0.51 on the TSX.

Information for this briefing was found via Sedar and Hexo Corp. 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.

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