Trulieve Cannabis (CSE: TRUL) has seen its newly appointed chief financial officer resign from his role with the company. He held the post for just ten days.
Tim Mullany, who the company announced last month would be taking on the role of CFO following the sudden departure of Alex D’Amico on June 18, is now the second CFO to depart the company in the last month. Mullany took on the role effective July 10, and vacated it just ten days later on July 20 for personal reasons.
Mullany had agreed to be paid an annual salary of $550,000 for taking on the role, plus an annual bonus of up to 160% of his base salary based on certain achievements being met, an annual equity award of 58,666 restricted share units, and a long term equity incentive award worth $2.0 million at the time of signing. He reportedly did not receive any severance with his departure.
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With Mullany out, Ryan Blust, VP of Finance for Trulieve, is back in the role of interim chief financial officer, a role he served during the period between D’Amico’s departure and Mullany’s start date.
Trulieve meanwhile is now again searching for a permanent chief financial officer, and has engaged an executive recruitment firm to assist in the search.
Trulieve Cannabis last traded at $5.51 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.
