Sativa Wellness Group Inc (LON:SWEL) has updated investors on appointments to its board, saying Geremy Thomas and George Thomas have both been appointed as directors, with the former becoming its executive chairman.
The cannabidiol (CBD) specialist said following a meeting of shareholders on January 26, 2021, Henry Lees-Buckley is no longer its chief executive as of February 3, adding that Geremy Thomas will act as interim CEO until a replacement is appointed.
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"I am pleased to be back at the helm. I will be focusing the business on activities that generate cash and profit and will be making cost reductions in other areas", the executive chairman said in a statement.
Sativa also said that as of February 1, Jonathan Wearing and Angus Kerr have resigned from the board as chairman and non-executive director, respectively, while as of February 2 Joseph Colliver has resigned as chief financial officer although he will continue in the post through his three-month notice period to support the company’s strategic review and the appointment of a successor.
Meanwhile, the company said Clive Thomas Standish has been appointed as a non-executive director, effective February 3 to add strength to the board, noting that his experience will give the firm “significant additional strategic and capital markets strength at the board level”.
Standish previously served as chairman and CEO of the Asia-Pacific arm of UBS from 1998 to 2003 when he became CFO of the UBS group until retiring in 2007.