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Auxly announces CEO succession

Auxly Cannabis Group Board of Directors has named Hugo Alves, President, to succeed Chuck Rifici as CEO, effective August 27, 2019. Mr. Rifici will continue to serve as Chairman of Auxly’s Board of Directors.

“It’s been an honour to serve as Auxly’s CEO for the last two years,” stated Mr. Rifici. “And I am pleased to announce Hugo’s promotion to guide Auxly through its next chapter, as we move toward commercialization of our branded derivative products. As a leading lawyer and regulatory expert in the cannabis space and one of the co-founders of Auxly, Hugo has demonstrated depth of industry knowledge and an ability to build and grow the business."

Genevieve Young, Independent Director, commented: “On behalf of the entire Board, I’d like to thank Chuck for his remarkable leadership of Auxly. Today’s announcement is part of a deliberate, thoughtful and careful succession planning process. This is the right time for a leadership transition, as Canada moves toward the next phase of cannabis legalization and Auxly prepares for the launch of its product portfolio. Hugo’s regulatory first approach, performance to date, depth of experience and track record for success is very impressive. The Board is confident that Hugo has the right capabilities, appropriate outlook and perspective to drive continued execution as Auxly’s CEO.”

Commenting on his appointment, Hugo Alves stated: “I am honored and privileged to be the next CEO of Auxly, and I am grateful for the confidence that both Chuck and the Board of Directors have placed in me. Working with Chuck to build Auxly to what it has become today has been an incredible personal and professional journey which I am very much looking forward to continuing in my new role as CEO.  Chuck has always been a great friend and tremendous ambassador for Auxly and I am delighted that I get to continue working with him and that Auxly and its shareholders get the benefit of his continued contributions as Chairman.  This is a dynamic time for our business and I look forward to bringing our branded cannabis products to Canadian consumers later this year.”

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