Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) has elected four new executives to spearhead the management team of its Chicago-based operator, the company said in a release on Tuesday.
Leadership promotions include:
The company also appointed Dawn Wilson Barnes to its board of directors.
The appointment will take effect on January 1st.
The news comes months after three of Green Thumb’s four independent board members resigned in October, along with the company’s general counsel and corporate secretary, Beth Burk. All three directors were members of the company’s audit committee.
Green Thumb said the resignation was not related to financial performance, statements, or financial management, but rather to “disagreements regarding company policies and practices related to personal misconduct.”
Green Thumb is mostly tight-lipped on this issue.
In a statement Tuesday, CEO Ben Kovler said the change in management “reflects the natural evolution of high-performing team members into positions of greater responsibility. It demonstrates our belief in the strength of leadership.”
The company said Georgiadis will continue to work closely with Kovler on corporate strategy and operations, while “allowing Kovler to focus greater attention on capital allocation, strategic partnerships, brand positioning, investor relations, and mergers and acquisitions. I’ll do it,’ he said.
Georgiadis joined Green Thumb in 2015 and has been CFO since 2017.
Succeeding Georgiadis, Matt Faulkner has served as Green Thumb’s Chief Accounting Officer since his promotion in 2020, and has “succeeded in facilitating the company’s initial public offering in the U.S. and achieved a successful U.S. listing on the U.S. Stock Exchange. Led the transition to reporting under Generally Accepted Accounting Principles (GAAP) for Fees.
Kravitz has served as the company’s chief legal counsel since 2017.
Albert, a former consultant in the company’s human resources department, will assume the role of Chief Administrative Officer and “help shape Green Thumb’s culture while supporting leadership initiative and decision-making.”
GTI said Barnes will join the board as an independent director and a member of the audit committee.
“We are very pleased to welcome Dawn to Green Thumb’s Board of Directors as an independent member. As a seasoned financial professional with expertise in capital markets and audit, she will be a strong addition to the team.” His appointment to our Board of Directors further strengthens our corporate governance, which is Green Thumb’s number one priority.”
Barnes is currently President and Founder of Aurora Bay Capital, an Atlanta-based financial services company.
GTI said it is “actively hiring” additional directors in preparation for a potential U.S. listing and will hire an outside recruitment agency to help with the search.
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