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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.
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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.
