Heritage Cannabis Holdings Corp is getting a new CEO in cannabis veteran David Schwede.
The Toronto-based vertically integrated cannabis company is reshuffling its boardroom with outgoing CEO Clint Sharples taking on the role of chairman, following the resignation of Donald Ziraldo for personal reasons.
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“I am very pleased to hand the CEO role to David at a pivotal and exciting time for Heritage,” Sharples said in a statement.
“David has a long track record of success in the cannabis space, innovating unique products and applying his entrepreneurial spirit to execute on growth strategies. Over the past six months, David has demonstrated that he is capable of leading this company and I have full confidence that he will successfully take Heritage to the next level.”
New CEO Schwede originally joined Heritage as its president of recreational following the firm’s acquisition of concentrate brand Premium 5, which Schwede led as CEO.
He is also a former senior member of cannabis powerhouse Aurora Cannabis. Prior to his cannabis career, Schwede worked with technology startups and helped to scale early-stage, award-winning companies.
“Since day one, Heritage has proven to be the platform on which to build a successful house of brands. I am very excited and honored to be given the opportunity to continue to build on the success of the new Heritage,” Schwede told shareholders.
“As we move into the next phase of our exciting journey, I am confident we will continue to see sequential revenue growth, further distribution nationally, and a presence in the US with products on shelves by the end of the year, all while keeping the path to profitability as our core focus.”
Schwede will also take a seat at the boardroom table as director of the company following the resignation of Max Gerard, partner at Merida Capital Holdings, pending security clearance by Health Canada. Gerard will stay on in an advisory role to Heritage. Merida, one of Heritage’s key shareholders, will appoint a new board member once it is awarded clearance.
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