4Front Ventures Corp. FFNTF FFNT announced that Keith Adams, CFO, has ended his tenure with the company effective July 31, 2023, to pursue other opportunities. Nicole Frederick will assume the position of CFO on an interim basis in addition to her current role as director of external reporting, while the company completes a search to identify a permanent successor.
"On behalf of myself and the board, I would like to thank Keith for the tremendous contributions he made toward strengthening our finance department and enhancing financial controls. Our company has recently reduced annualized cost structure by approximately $9 million which keeps us on track toward achieving our goals of cash generation and self-sustainability," stated Leo Gontmakher, CEO of 4Front. "We thank Keith for his contributions to these efforts and wish him continued success in his future pursuits."
Gontmakher added, "As we eagerly anticipate the opening of our Matteson, Illinois facility, the steps we have taken to streamline and optimize our operations enable us to execute our strategic priorities efficiently, leveraging our existing resources, and focused national footprint. Our strengthened financial controls, along with our growing product portfolio, continue to position us strongly to seize developing longer-term growth opportunities and drive profitability in our key markets as we enter the second half of the year."
Adams, stated: "I am grateful to have had the opportunity to serve as CFO of 4Front and to have worked with such an outstanding team. My objective of building a mature finance department with robust processes, stringent controls, and improved reporting has been accomplished during my tenure and I am grateful for the team's unwavering support and collaboration."
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