Telecure Sees CEO Resign After Unauthorized Termination Of COO
It appears the outright embarrassing events over at Telecure Technologies (CSE: TELE) have finally come to a head. The firm this morning announced the resignation of Adnan Malik, the firms chief executive officer.
The resignation comes after a capital markets drama that could have only occurred in Canadian small caps. It began on December 7, when Malik announced that he had fired TeleCure Chair and Chief Operating Officer Josh Rosenberg for “Microaggression.”
The “termination” was just three weeks after Rosenberg had been appointed as Chair of the company, and the quote sending him off was something for the record books. Malik at the time commented, “Many of Mr. Rosenberg’s behaviors and actions impede the proper functioning of our business as well as hurt the moral of our workforce. We have a zero tolerance of discrimination including microaggressions which have a detrimental effect on all of us. I wish Mr. Rosenberg all the best in his future endeavors.“
Despite the formal announcement by the company, however, Malik didn’t have the actual ability to remove Rosenberg, with him being Chair of the company. In fact, several members of the board weren’t even aware of the “termination” until they read the announcement via the news wires. Further, none of the allegations put forth by Malik were ever brought forth to the board.
As a result of the move to terminate without the ability to do so, Malik was suspended pending a review. Now, it appears he has left the firm due to “difference of visions ahead.” He originally joined the firm in mid 2021 via the reverse takeover of MyApps Corp.
Josh Rosenberg will be assuming the role of CEO until a replacement has been found.
Telecure Technology last traded at $0.30 on the CSE.
Information for this briefing was found via Sedar and the companies mentioned. 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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
