Green Organic Dutchman Holdings Ltd. said Thursday that President Csaba Reider will leave the Canada-based cannabis company, as part of a executive leadership consolidation aimed at reducing costs and improving cash flow. Chief Executive Brian Athaide will assume Reider's duties. Vice President of Sales Mike Gibbons will also leave the company, with VP of Medical Commercialization Robert Gora assuming the consolidated role of VP of national sales. "This will result in significant G&A savings and a leaner more efficient organization," Athaide said of the management changes. " We are also very focused on ramping up production, expanding our product portfolio with innovative organic products and gaining market share across the country." The U.S.-listed stock has plunged 52.4% over the past three months, while the ETFMG Alternative Harvest ETF (MJ) has tumbled 17.4% and the S&P 500 has climbed 11.4%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
January 09, 2020 07:45 ET (12:45 GMT)
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