It s going to be a bloodbath : Why some Toronto pot store owners are giving up - Article bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Organigram Holdings Inc. said Monday that Greg Engel is stepping down from his role as chief executive officer of the pot producer, effectively immediately.
The company didn t provide a reason why Engel, who held the top position at the Moncton, N.B.-based company since 2017, resigned two months after he secured an investment from a major tobacco company.
In the interim, Organigram Chairman Peter Amirault will serve as executive chair until a permanent CEO is appointed. Engel will work as a special advisor to Organigram s board until his successor is found. Greg has brought innovative leadership as the company created new structures around operations and increased capacity to serve the growing marketplace, while ensuring our successful launch into the adult recreational cannabis space and bringing leading innovative new platforms and edible products to the marketplace, said Geoff Machum, who was appointed Monday as an independent lead director on Organigram s board, in a statem
Canadian pot sales expected to slow down in Q1 due to COVID-19 lockdowns
As Canadian cannabis producers emerge from a volatile week of market activity, some dark clouds persist over the industry.
While earnings season has begun in earnest with companies like Canopy Growth Corp. and Supreme Cannabis Inc. reporting an increase in quarterly sales, the next three-month period may be a challenging one for Canada s pot retailers and producers.
Several analyst reports suggest that cannabis sales in January will be down notably from December, while some retailers expect the rest of the first quarter to offer another tough month as COVID-19 lockdowns weigh broadly across the industry.