Cannabis Producer Aphria’s CEO to Step Down Following Short-Seller Allegations

Newly appointed chairman Irwin Simon will “complete a smooth and responsible transition to a globally-minded executive leadership team,” the company said.

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January 11, 2019

Beleaguered cannabis producer Aphria Inc.’s chief executive officer is stepping down following short-seller allegations that have hit the company’s stock.

CEO Vic Neufeld and co-founder Cole Cacciavillani “are both nearing the end of their five-year journey with the company and will transition out of their executive roles over the coming months but remain on the board,” the company said in a statement Friday.

RELATED: Green Growth Brands Launches Takeover Bid for Aphria Inc.

Newly appointed chairman, Irwin Simon and President Jakob Ripshtein, who joined the company from Diageo Plc in May, will “complete a smooth and responsible transition to a globally-minded executive leadership team,” the company said.

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The global cannabis company also announced a corresponding special stockholders meeting.

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