Love Hemp makes major management changes
Specialist CBD products and beauty retailer Love Hemp has reshuffled its board. The move follows the suspension of its share trading on the AQSE Growth Market this spring.
As part of an ongoing internal review, the company said it has eliminated the role of Executive Chairman held by Andrew Male, effective immediately.
That means Graham Mullis has agreed to move from Independent Non-Executive Director to Non-Executive Chairman. Andrew Male will also take up a new role as a Non-Executive Director.
The board has also accepted the resignation of Garry Cook who joined the board back in February. In his place, it has appointed Anthony Dyer, who will chair the Audit Committee.
The senior management team has also been strengthened with the appointment of an as-yet unnamed interim Managing Director, reporting to CEO Tony Calamita. The company said it continues a search for a third independent non-executive director as well as a permanent CFO.
Commenting on the changes, Mullis said: "I am excited by the opportunity that exists for Love Hemp and pleased to accept this appointment. These board and management changes will help the company move forward and maximise its opportunities.”
He added: “Our initial goals are to satisfy the requirements for the AQSE Growth Market and to continue to strengthen the performance and structure of the company. [It] is currently completing the operational restructure, announced on 31 March, and is considering its long-term objectives to create shareholder value."
Meanwhile, the company said it has begun discussions with a proposed new AQSE Corporate Adviser to enable its trading suspension to be lifted and it will further update shareholders in due course.
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