Organigram Expands Leadership Team with the Appointment of Chief Strategy Officer and Newly Appointed Chief Financial Officer
March 04 2020 - 6:00AM
Business Wire
Paolo De Luca, current CFO, appointed Chief
Strategy Officer
Derrick West, currently on Board of Directors,
joins as Chief Financial Officer
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent
company of Organigram Inc. (the “Company” or “Organigram”), a
leading licensed producer of cannabis, is pleased to announce that
effective today Paolo De Luca, the Company’s current Chief
Financial Officer (“CFO”) has been appointed Chief Strategy Officer
and Derrick West, currently on the Company’s Board of Directors, is
joining the Company as its CFO.
“In this highly dynamic and growing industry, we are
strengthening the skill and scope of our leadership team," said
Greg Engel, Chief Executive Officer. “I am thrilled to have Paolo
take on the role of Chief Strategy Officer. 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. At the same time, our
leadership team is benefiting from the appointment of Derrick West,
an experienced finance and accounting professional with strong
knowledge of Organigram and the industry after serving on the Board
of Directors, including as Chair of the Audit Committee, over the
last two years.”
Mr. De Luca has served as the Company’s CFO since December 2017.
He is a Chartered Professional Accountant and Certified Financial
Analyst Charterholder and holds a Bachelor of Business
Administration from the Schulich School of Business. Prior to
joining Organigram, he held senior diversified roles in both public
and private international companies including Potash Ridge, C.A.
Bancorp, TD Securities and one of Canada’s leading alternative
asset management firms, West Face Capital. During his tenure as
Organigram’s CFO, Mr. De Luca collectively oversaw more than a
quarter of a billion dollars in capital raises including equity
capital, convertible debt and traditional bank debt financing and
saw the company successfully migrate to the Toronto Stock Exchange
and the NASDAQ Global Select Exchange. In this new role, he will be
responsible for establishing and reviewing key strategic priorities
and translating these into a comprehensive execution plan working
with the Chief Executive Officer and the Board of Directors. This
will include reviewing market trends, market size and outlook as
well as our competitive positioning to identify profitable growth
opportunities. The Investor Relations and Corporate Development
functions will continue to report to Mr. De Luca.
Mr. West served as Chair of the Audit Committee of Organigram’s
Board of Directors from December 2017 to February 2020 and also
more recently, as a member of the Investment Committee. Mr. West
was the Chief Financial Officer and Corporate Secretary of Partners
REIT, an open-end real estate investment trust focused on managing
a portfolio of retail community centres across Canada from 2014
until December 2019. He previously served as the Chief Financial
Officer of Landdrill International, an international mining
services Company with operations in Canada, Russia, Mongolia, and
Mexico. Additionally, Mr. West served as the Vice-President of
Accounting and Administration for Plazacorp Retail Properties
Limited (renamed Plaza Retail REIT). Mr. West is a Chartered
Professional Accountant and holds a Bachelor of Commerce degree
from Mount Allison University.
In concert with his appointment as Chief Financial Officer Mr.
West has resigned from Organigram’s Board of Directors.
About Organigram Holdings Inc.
Organigram Holdings Inc. is a NASDAQ Global Select and TSX
listed company whose wholly owned subsidiary, Organigram Inc., is a
licensed producer of cannabis and cannabis-derived products in
Canada.
Organigram is focused on producing high-quality, indoor-grown
cannabis for patients and adult recreational consumers in Canada,
as well as developing international business partnerships to extend
the Company's global footprint. Organigram has also developed a
portfolio of legal adult use recreational cannabis brands including
The Edison Cannabis Company, Ankr Organics and Trailblazer.
Organigram's facility is located in Moncton, New Brunswick and the
Company is regulated by the Cannabis Act and the Cannabis
Regulations (Canada).
This news release contains forward-looking information. Often,
but not always, forward-looking information can be identified by
the use of words such as “plans”, “expects”, “estimates”,
“intends”, “anticipates”, “believes” or variations of such words
and phrases or state that certain actions, events, or results
“may”, “could”, “would”, “might” or “will” be taken, occur or be
achieved. Forward-looking information involves known and unknown
risks, uncertainties and other factors that may cause actual
results, events, performance or achievements of Organigram to
differ materially from current expectations or future results,
performance or achievements expressed or implied by the
forward-looking information contained in this news release. Risks,
uncertainties and other factors involved with forward-looking
information could cause actual events, results, performance,
prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information; including
risks as disclosed in the Company’s most recent annual information
form, management’s discussion and analysis and other Company
documents filed from time to time on SEDAR (see www.sedar.com) and
filed or furnished to the Securities and Exchange Commission on
EDGAR (see www.sec.gov). Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. Although the Company believes
that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable,
undue reliance should not be placed on such information and no
assurance can be given that such events will occur in the disclosed
time frames or at all. The forward-looking information included in
this news release are made as of the date of this news release and
the Company disclaims any intention or obligation, except to the
extent required by law, to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20200304005119/en/
For Investor Relations enquiries, please contact: Amy
Schwalm Vice President, Investor Relations
Amy.Schwalm@organigram.ca (416) 704-9057
For Media enquiries, please contact: Ray Gracewood Senior
Vice President, Marketing and Communications
ray.gracewood@organigram.ca (506) 645-1653
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