The revolving door that is the chief financial officer position at Hexo Corp (TSX: HEXO) (NYSE: HEXO) has claimed another. After less than a year in the role, CFO Stephen Burwash has been pushed out by the company, with CEO Sebastian St-Louis stating that, “the Board and I felt it important to ensure that our management team have the skill set most beneficial for HEXO.”
Taking Burwash’s place will be that of Trent MacDonald, whom formerly served as CFO for private company Rx Drug Mart, a private pharmacy operator and consolidator. Prior to this role, MacDonald had served as VP of Finance at Indigo. He’ll be taking on the role in the “coming months,” dependent on Health Canada approvals and security clearances.
With over fifteen years of financial executive experience, MacDonald has already been tasked with improving sales for the issuer as well as focusing on continuing to build the consumer packaged good narrative for the company. His experience is also backed by a BBA in Accounting and Finance from St. Francis Xavier University, as well as a CPA designation.
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Burwash is expected to stay in the role until MacDonald acquires the necessary approvals required by the regulatory agency. Further justification for Burwash being pushed out was not provided.
Hexo Corp last traded at $0.70 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.
