Aleafia Health (TSX: AH) is finally shaking up its management team after its financial struggles. The firm last night announced that Chief Executive Geoffrey Benic would be leaving the company immediately.
Taking on the role on a permanent basis will be Tricia Symmes, whom was formerly the Chief Commercial Officer of the company. Experienced in pharmaceuticals as well as the Canadian cannabis industry, Symmes has been with the company since 2020, having previously served roles at Novartis Pharmaceuticals and Entourage Health.
Benic meanwhile had been with the company since 2018, having joined the firm to serve as its chief executive at a time during which the sector was at its height in terms of capital market valuations. In the time since, the company had become financially unstable, with the firm recently struggling to meet interest payments related to outstanding convertible debt.
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Commenting on the appointment of Symmes to the top role, board chair Mark Sandler stated, “Tricia is exactly the right person to rise to the challenges of today’s market and lead the next phase of the company’s growth. Leveraging her 20 years of experience as a senior executive in salient industries, Aleafia has seen exponential growth in adult-use cannabis net revenue in only 6 months, while the company’s medical business has continued to move from strength-to-strength, including through the unparalleled partnership with Unifor.”
Aleafia Health last traded at $0.105 on the TSX.
Information for this briefing was found via Sedar and Aleafia Health. The author has no 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.
