iAnthus Capital Holdings announced that co-founder Randy Maslow will resign from his executive positions with the company, including all positions with the company's subsidiaries and its affiliates, and from the company's Board of Directors and committees, effective as of May 6, 2022, if not otherwise rescinded in accordance with applicable law.
"Randy Maslow has been a pioneer in the development of the regulated cannabis industry in the United States for nearly a decade and was instrumental in building iAnthus into a publicly traded multi-state operator with more than 1000 employees and a platform across 10 U.S. states," said Chief Financial Officer Julius Kalcevich.
Mr. Maslow co-founded iAnthus in 2014 and served as its President and as a member of the Board, with primary responsibility for legal, regulatory, and public policy affairs since the company's inception. Mr. Maslow was additionally named the company's Interim Chief Executive Officer on April 27, 2020, and has served in that role for the past two years.
"Randy Maslow agreed to serve as the company's Interim Chief Executive Officer at a difficult time in the company's history and led iAnthus through a restructuring of the business. It has been a pleasure to serve with Mr. Maslow on the Board, and we want to thank him for his leadership and contributions to iAnthus since its beginning," said independent directors Michael Muldowney and Diane Ellis.
Mr. Maslow will continue to serve the company in a consulting role for a period of six months following the Resignation Date. All terms of Mr. Maslow's separation were considered and approved by the Board, and the Board determined that such terms comply with applicable laws, including laws applicable to related party transactions, and details of Mr. Maslow's separation agreement will be disclosed in accordance with applicable law. iAnthus has initiated a search to identify a successor Chief Executive Officer and, on or before the Resignation Date, the company intends to announce additional updates, including with respect to a replacement Interim Chief Executive Officer and a replacement director.
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