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  • Organigram Holdings (TSX:OGI) has appointed a new Chief Financial Officer (CFO) and Chief Strategy Officer (CSO)
  • Paolo De Luca, the company’s current CFO, will transition to the role of CSO
  • Current board member, Derrick West, will replace him as CFO and resign from his position on the board
  • Organigram’s current focus is on the production of quality, indoor-grown cannabis for the adult and recreational markets
  • Organigram Holdings (OGI) is up 5.24 per cent, with shares currently trading at C$3.01 and a market cap of C$492.41 million

Organigram Holdings (TSX:OGI) has announced two new executive appointments.

Paolo De Luca, the company’s current Chief Financial Officer, will transition to the role of Chief Strategy Officer.

Organigram’s current board member, Derrick West, will replace him as CFO and subsequently step down from his position on the board.

Both appointments are effective immediately.

De Luca has served as the company’s CFO since December 2017. He has previously held other senior roles in both private and public companies; including Potash Ridge, C.A. Bancorp, TD Securities and West Face Capital.

In his time with Organigram, De Luca oversaw more than C$250 million in capital raising, as well as the company’s transition to the TSX and the NASDAQ Global Select Exchange.

De Luca is Chartered Professional Accountant and certified financial analyst charterholder. De Luca holds a Bachelor in Business Administration from the Schulich School of Business.

In his new role as CSO, he will be primarily responsible for initiating and reviewing core strategic priorities. He will also work with Organigram’s senior management to establish execution plans based on these priorities.

Greg Engel, CEO of Organigram, said that strengthening the skill and scope of the company’s leadership team is pivotal in a dynamic and growing industry.

“I am thrilled to have Paolo take on the role of CSO. He has been intimately involved in our strategy development since he joined Organigram and has an excellent track record of rapidly and profitably scaling the company through substantial growth.

“This dedicated role will allow him to resolutely focus on the ongoing evolution and execution of strategy critical to our continued success,” he added.

Derrick West has served as Chair of Organigram’s Audit Committee from December 2017 to February 2020. He is also a member of the Investment Committee.

West has previously acted as CFO and Corporate Secretary of Partners REIT, and held the position from 2014 until December 2019.

He has also served as CFO of Landdrill International and Vice-President of Accounting and Administration for Plazacorp Retail Properties.

With a Bachelor of Commerce from Mount Allison University, West is a Chartered Professional Accountant.

Organigram is currently focused on the production of quality, indoor-grown cannabis for the adult and recreational markets.

Organigram Holdings (OGI) is up 5.24 per cent, with shares currently trading for C$3.01 at 1:18 pm EST.

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