Why A National Cannabis Organization Sacked Half Its Staff, CEO Turnovers And More Exec Changes

NCIA Sacks Half Of Its Team To Increase Financial Strength

The National Cannabis Industry Association sacked nearly half of its workforce as part of a cost-reduction initiative in an effort to remain financially sound in 2023, reported Green Market Report.

The organization gave pink slips to communications director Bethany Moore, director of government relations Michael Correia, COO Rob Kellogg and two support staff employees. According to Moore's post on Facebook, her last day at NCIA will be June 14.

"We've pulled the Band-Aid off," CEO Aaron Smith said. "It's not fun, but I feel confident that we're in a place where we're in the black, month-over-month going forward, and we can grow from here. This is a very difficult decision, but it had to be done for the sake of the members and the future of the organization."

The NCIA will now operate with six full-time staff.

Avant Brands Elects Directors

Avant Brands Inc. AVNT AVTBF (FRA:1BU0) recently held its annual general shareholders meeting.

Each of the six nominees for the board of directors listed in the management information circular dated April 17 was elected until the next annual meeting of shareholders. They including:

• Jurgen Schreiber
• Norton Singhavon
• Michael Blady
• Derek Sanders
• Sylvia Lee
• Duane Lo

SciSparc Names New Strategy And Business Development VP

SciSparc Ltd. SPRC appointed Yaki Baranes as its new strategy and business development vice president.

Baranes will work on structuring business strategies and facilitating the identification of new business opportunities.

Baranes is a business strategy expert who spent 13 years working with various industries and government entities, skilled in business strategy planning and implementation on corporate and business unit levels.

Previously, Baranes served as a consulting manager at Frost and Sullivan, partner and head of strategy and management consulting services at Baker Tilly and as chairman of global strategy at Baker Tilly International.

Psychedelics Experts Join Clarion Clinics Advisory Board

Psychedelics-focused pharmaceutical company Incannex Healthcare Ltd IXHL IHL recently tapped three psychedelic therapy and science experts to serve on its advisory board.

Clarion Clinics Group is a collaborative venture between IHL and three leading Australian psychedelics experts, Dr. Paul Liknaitzky, Prof. Suresh Sundram and Sean O'Carroll, who are co-founders, key executives and directors of the company. Clarion's first clinic will open its doors to patients in the third quarter of 2023.

Bill Richards is an esteemed psychedelic researcher and practitioner. He has had a multi-decade career at the forefront of psychedelic research, therapy, and training and is a mentor and trainer to numerous research groups worldwide. He co-founded the psychedelic research group at Johns Hopkins University and director of therapy at Sunstone Therapies in Maryland.

Dr. Andrea Jungaberle is the chief medical officer of Ovid Clinics in Berlin and co-founded the MIND Foundation, Europe's psychedelic research and education group. She has conducted and/or supervised psychedelic-assisted psychotherapy for hundreds of patients and works both within Germany's largest clinical psilocybin trial and within clinical service delivery.

Professor Matthew Johnson, a psychedelics scientist, has been central in the establishment and leading track record of the Johns Hopkins Center for Psychedelic & Consciousness Research. His work has contributed to standards in practice within clinical psychedelic science.

XS Financial Names New CFO

XS Financial Inc. XSFXSHLF, a specialty finance company with a focus on cannabis companies, promoted Justin Vuong to CFO, replacing Stephen Christoffersen.

Christoffersen will continue to be a member of the XSF board of directors and serve as a member of the company's investment committee and audit committee chair.

Vuong has been a senior member of the XS management team since 2019, serving as senior vice president of corporate development. Before that, he served as an investment banking associate at Roth Capital Partners.

Acreage's Peter Caldini Steps Down As CEO

Acreage Holdings, Inc. ACRG ACRHF said last week that Peter Caldini will resign as CEO.

Dennis Curran, the company's COO will replace Caldini as of July 1.

Curran joined the New York-based company in March 2022, bringing over 35 years of leadership expertise in sales, distribution, and marketing, having previously held executive-level positions with GSK Consumer Health and Procter & Gamble (P&G).

"Peter restored Acreage's position at the forefront of the industry and equipped the business to accelerate our growth trajectory as a part of Canopy USA," said Kevin P. Murphy, chairman and founder of Acreage.

Jones Soda Welcomes New Board Member

Jones Soda Co. JSDA JSDA announced that Ronald Dissinger is now a member of the company's board of directors.

Dissinger is a global financial executive with over three decades of experience in the consumer packaged goods industry.

"He has a deep and broad knowledge of business operations and has provided strategic financial leadership and direction across all aspects of the business, including M&A," Paul Norman, chairman of the board, said. He has "served in a number of financial roles including assistant controller, vice president and chief financial officer of Europe, and vice president and CFO of North America, and in 2010, he was appointed SVP and chief financial officer of Kellogg company globally, and served in this role until he retired."

Schwazze Names New CEO

Medicine Man Technologies, Inc., which operates as Schwazze SHWZ SHWZ, promoted Nirup Krishnamurthy to the CEO role.

Justin Dye – the company's former CEO and executive chairman – will continue to lead the board of directors as its non-executive chairman.

Krishnamurthy was handpicked by Dye as his successor with the full support of the company's board and was promoted to president of Schwazze in October of 2022 to enable the transition.

Photo: Courtesy of lindsayfox and Tusumi by Pixabay