Beefing up the company’s upper management team, Acreage Holdings (CSE: ACRG.U; OTCQX: ACRGF; FSE: 0ZV) just brought on a trio of new Vice Presidents to oversee various operational structures from retail outlets to manufacturing.
Today the company officially hired Gretchen McCarthy to move into the role of VP of Retail Operations.
Formerly of Curaleaf Holdings (CSE: CURA; OTCQX: CURLF), McCarthy previously served as VP of Dispensary Operations and Development for that rival cannabis company.
In her time with Curaleaf, she additionally oversaw the Human Resources department and directly managed daily operations for a New Jersey-based dispensary.
Discussing her move over to Acreage and new position running the retail side of operations, McCarthy had this to say:
McCarthy will oversee Acreage’s entire retail chain, which currently includes more than 80 licenses for storefronts across the U.S.
In addition to that new hire, the company also just brought on former Heineken exec Laurence Wolfe to serve as SVP of Manufacturing and Distribution in addition to tapping MedMen’s Alfred Miranda to move into the role of SVP, Chief Information Officer.
That trio of management changes arrives following the international deal approved for Canopy Growth Corporation (TSX: WEED; NYSE: CGC) to acquire Acreage after cannabis becomes legal at the federal level in the United States.
Both companies have seen a number of changes since that landmark deal, most notably with the ouster of Canopy CEO Bruce Linton following lacklustre earning numbers after a massive investment from Constellation (NYSE: STZ).
While Canopy grapples with that upper management change, Acreage has been working to increase value for shareholders as stock has been notably down throughout the past year.
Acreage’s stock has steadily fallen from a high of $24 to a current price of $13.24 as of Thursday morning.
In an attempt to smooth over investor worries and show the company’s commitment to turning that trend around, CEO Kevin Murphy notably purchased $2 million in Acreage stock last month.
The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Grizzle hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.