Ascend Wellness Holdings announced that Chief Financial Officer Daniel Neville and President & Co-founder Frank Perullo have been named Interim Co-CEOs, effective immediately. As Interim Co-CEOs, Mr. Neville and Mr. Perullo will provide ongoing leadership and oversight of the Company's day-to-day operations while a search is conducted for a new CEO.
The Board of Directors has commenced the search process to identify the right CEO to support the Company's next phase of growth. The Board has retained Russell Reynolds, a leading executive search firm, to support this effort.
In connection with this announcement, Chairman and Founder Abner Kurtin will transition to Executive Chairman of the Board.
The Board issued the following statement regarding the leadership transition: "AWH has an incredibly strong foundation in place and remains well positioned to advance the goal of breaking down traditional walls in the cannabis marketplace and redefining the industry from the ground up. As the Company prepares to enter the next phase of its growth story, the Board determined that now was the right time to initiate this transition. While the Board executes its search for the Company's next CEO, AWH is fortunate to have Dan and Frank at the helm. They are both intimately familiar with AWH, and the Board is confident that they are well equipped to guide the Company forward and continue executing our strategic priorities during this period."
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Ascend Wellness Holdings