Hexo Corp (TSX: HEXO) (NYSE: HEXO) this evening announced that Trent MacDonald as been named as “acting” chief financial officer of the firm following the resignation of Stephen Burwash, effective today. The change was originally announced on September 14 by the company, with CEO Sebastian St-Louis at the time stating, “the Board and I felt it important to ensure that our management team have the skill set most beneficial for HEXO.”
At the time of the original announcement, it was stated that Burwash would be staying with the company until MacDonald received approval from Health Canada for the role, as it pertains to security clearances. Now however, Burwash has left without MacDonald having received the green light from the regulatory agency.
MacDonald’s role as the permanent CFO of Hexo Corp as a result will, “commence upon the successful completion of Health Canada’s security clearance process for key personnel, which has been initiated.” Aside from specific formalities, its unclear what the difference is between “acting” CFO and the permanent title.
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Most recently, MacDonald had served as the CFO of Rx Drug Mart, a private pharmacy operator, prior to which he served as the vice president of finance at Indigo. MacDonald has been at Hexo since mid-September as the company looked to provide a smooth transition from the outgoing CFO.
Hexo Corp last traded at $0.76 on the NYSE.
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.
