WeedMD Inc (CVE:WMD) (OTCQX:WDDMF), a producer and distributor of medical-grade cannabis, has appointed veteran finance executive Lu Cacioppo to its board of directors and as a chair of its audit committee.
In a statement Monday, the Toronto-based company said Cacioppo joins the board as an independent director and is a nominee of 2437653 Ontario Inc, pursuant to the Nomination Rights and Voting Agreement dated December 20, 2019.
“WeedMD is steadily executing its business plan with a focused approach and we are thrilled to welcome Lu as an independent director and chair of our Audit Committee,” said George Scorsis, executive chairman of WeedMD.
READ: WeedMD posts C$5.9M in 2Q revenue as it sharpens focus on higher margin, direct-to-consumer model
“Lu is a highly-regarded business and community leader that brings more than 30 years of valuable experience and insight in finance, capital markets, and corporate governance. As a former Deloitte partner, Lu’s solid industry reputation and sharp business acumen comes at a timely juncture as we accelerate our profitability goals and ready the company for long-term growth.”
Cacioppo added: “As a long-time observer of the cannabis industry, I’ve admired companies that can operate with a disciplined, customer-centric approach while balancing growth with fiscal rigor. WeedMD has all the necessary fundamentals in place to accelerate revenue growth and move towards profitability.”
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