- Cronos (CRON) has welcomed Founder Mike Gorenstein’s return as CEO effective today
- He will also take on the role of President in addition to his existing role as Chairman
- He last worked for the company in September 2020
- Cronos Group is a global cannabinoid company building disruptive intellectual property through research, technology and product development
- Cronos (CRON) is down by 1.31 per cent trading at $4.52 per share
Cronos (CRON) has welcomed Founder Mike Gorenstein’s return as CEO effective today.
He will also take on the role of President in addition to his existing role as Chairman. He last worked for the company in September 2020.
Gorenstein is a Co-Founder of Gotham Green Partners and previously served as Vice President and General Counsel of Alphabet Partners LP, a multi-strategy investment management firm. Prior to Alphabet, he was a corporate attorney at Sullivan & Cromwell, where he focused on mergers and acquisitions and capital markets transactions.
As CEO, his immediate priorities include margin accretive growth, rare cannabinoid development, borderless investments, increasing supply chain agility and U.S. market strategy.
He replaces President and CEO, Kurt Schmidt, who has retired.
“I am excited to return as CEO and accelerate progress by leveraging the innovative and daring approach that Cronos was built on,” stated Gorenstein. “We positioned Cronos to have the best tools to succeed in this market with our evolving asset-light supply chain, an organically growing brand in Canada, differentiated IP with a focus on rare cannabinoids, and one of the strongest balance sheets in the industry. Now it is time to use those tools to deliver meaningful shareholder value.”
Cronos Group is a global cannabinoid company building disruptive intellectual property through research, technology and product development.
Cronos (CRON) is down by 1.31 per cent trading at $4.52 per share as of 9:35 am EST.
