- The Supreme Cannabis Corporation Inc (TSX:FIRE) has appointed a new CEO
- Beena Goldenberg, formerly the CEO of Hain-Celestial Canada, has been appointed President and CEO of Supreme Cannabis
- Beena will succeed the company’s interim CEO Colin Moore, who replaced Navdeep Dhaliwal in January of this year
- Navdeep was replaced with Colin to immediately streamline costs and focus on near-term revenue drivers
- The Supreme Cannabis Corporation Inc (FIRE) is up 3.65 per cent, with shares trading at C$0.20 per share and a market cap of $72 million
The Supreme Cannabis Corporation Inc (TSX:FIRE) has appointed a new CEO and President in Beena Goldenberg, formerly of Hain-Celestial to succeed Colin Moore.
Colin was the interim CEO while the company cast its net wide to find a replacement for Navdeep Dhaliwal, the company long term CEO, whom Colin replaced in January of this year.
Colin’s remit was to significantly reduce costs that had increased under Navdeep, along with prioritising near-term cash returns and moving the company towards transitioning into a premium cannabis consumer brand company.
The most effective business model in the current market for cannabis companies is to release their own brands of proprietary cannabis products, as those products can retail and sell at a premium, giving the company significantly improved margins on products.
In Beena the company has clearly moved in that direction having previously been the CEO of Hain-Celestial Canada. Hain-Celestial are a healthy foods company specialising in vegan, gluten free and sustainable food products. They own several proprietary brands themselves.
The Chairman of the Supreme Cannabis board Michael La Brier welcomed Beena to the company and pointed to her proven track record of marketing and developing brands as reasons for her appointment.
“In this time of elevated global uncertainty, the company is particularly fortunate to move forward with a proven leader in place.
“With Ms Goldenberg’s leadership, I am convinced that our company is better positioned than ever to succeed to the benefit of all our stakeholders” he said.
For her part, Beena said the comapy’s near-term objective is continuing to protect the wellbeing of employees during COVID-19, while working on building Supreme into a premium cannabis company.
“Supreme Cannabis award winning premium brands, deep deification to quality and industry leading cultivation and production facilities are tremendous advantaged for any company, but especially one in the cannabis industry, which is increasingly a consumer-driven market,” she said.
The Supreme Cannabis Corporation Inc (FIRE) is up 3.65 per cent, with shares trading at C$0.20 per share and a market cap of $72 million at 3:40 am EDT.