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The Flowr Corp names new finance chief as it "realigns" leadership

Irina Hossu will join as finance chief on March 29, while current CFO, Alex Dann, will remain until the end of the month

The Flowr Corporation -
Flowr unveiled a series of management changes on Tuesday

The Flowr Corporation (CVE:FLWR) (OCTMKTS:FLWPF) has realigned its leadership "to drive operational and financial efficiencies", the firm told investors on Tuesday. 

The cannabis grower said Irina Hossu will join as its finance chief on March 29 this year, while the current CFO, Alex Dann, will remain until the end of March. 

Departing the company is the chief research and innovation officer, Jason Broome, along with chief strategy officer Laurence Levi, the company said. 

READ: The Flowr Corp aims to be cash flow positive in second half 2020

Meanwhile, the current chief policy and medical officer, Dr Lyle Oberg will transition to an advisory role and remain on the board.

The chairman of Flowr, Steve Klein will again become chief strategist.

"Ms.Hossu, as CFO, will be responsible for the stewardship of Flowr’s finance department, with an emphasis on financial strategy, capital allocation planning and growing Flowr’s domestic and international businesses,” said Flowr’s chief executive Vinay Tolia.

Tolia added that Hossu's experience across a variety of industries, including consumer-packaged goods and beverage and alcohol, will better enable the firm to execute on its ambitious international growth plans.

"On behalf of the board, we would like to thank Alex Dann, Jason Broome, Laurence Levi and Lyle Oberg, most of whom joined Flowr around the time of its founding and have been integral members of the management team. They each played a significant role in taking the company from a startup to a public company with operations across several continents," said the company boss.

Recent Holigen acquisition

He added: "With the recent acquisition of Holigen, we have advanced our efforts to become a major global player in the years to come and are ready to embark on the next phase of growth for the company.”

The Flowr Corporation is a Toronto-headquartered firm with operations in Canada, Europe, and Australia. Its Canadian operation in BC, includes a purpose-built, indoor cultivation facility; an outdoor and greenhouse cultivation site; and a state-of-the-art R&D facility, currently under construction.

Shares slipped in Toronto 3.8% to C$1.78 on the day.

Contact the author at [email protected]

Quick facts: The Flowr Corporation

Price: 0.87 CAD

TSX-V:FLWR
Market: TSX-V
Market Cap: $93.07 m
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