TGOD Promotes CFO as CEO Robert Anderson Steps Down Due to Health Concerns

Brian Athaide Appointed TGOD’s CEO, Julia Golubovskaya Appointed Interim CFO

TORONTO, July 02, 2018 (GLOBE NEWSWIRE) — The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) (US:TGODF) reports the resignation of CEO, Co-Chairman & Director, Mr. Robert Anderson, effective immediately, due to health concerns.

To ensure an orderly transition and continued rapid execution on the Company’s business strategy, the Board has appointed Mr. Brian Athaide, TGOD’s current CFO, to the position of CEO. Mr. Athaide has 29 years of global executive experience including CFO and Executive Vice President, Human Resources and Information Technology of Andrew Peller Limited, the largest publicly traded wine and craft alcohol producer in Canada. Mr. Athaide’s focus on value creation helped enable the stock price to increase to 400% in only three years. Previous to Andrew Peller Limited, Mr. Athaide spent 25 years at Proctor & Gamble Co., moving through progressively more senior positions across eight countries, culminating as the Finance Director and CFO of the multi-billion-dollar consumer products business across Russia, Ukraine and Central Asian markets.

Mr. Athaide has significant consumer products experience in North America, Europe, Asia, and Latin America leading acquisition integrations, developing corporate strategy, managing foreign exchange devaluations, banking crises, economic and political turmoil and high market volatility. Mr. Athaide managed to navigate all of these experiences decisively and effectively, finding new and innovative ways to achieve success, even in challenging market conditions.

The Board has also appointed Julia Golubovskaya, Vice-President, Finance as interim CFO. Ms. Golubovskaya has over 18 years of experience in consumer products, having worked with Proctor & Gamble in Canada, the USA and Russia. She has led multinational and multicultural teams in diverse financial fields across various categories and geographies. Ms. Golubovskaya has a proven ability to lead and adapt to change in challenging environments while surpassing financial goals, organizational engagement and productivity targets.

Mr. Anderson will continue to be available to assist the Company as required. The Board of Directors, management team, and all TGOD staff wish to thank Mr. Anderson for his tireless efforts and valuable contributions to the rapid and successful growth of the Company and wish him a successful recovery. Once Mr. Anderson has fully recovered, TGOD would welcome his return in any suitable capacity.

I feel privileged to take on this new role as CEO and ensure the Company delivers on its aggressive yet de-risked business plan. TGOD has assembled an incredible leadership team with a diverse skill set across all aspects of our business including finance, M&A, sales, international markets, branding, marketing and operations.

CEO Brian Athaide

The operational and capital market aspects of the business are in exceptional hands and we will continue to execute on Rob’s vision of becoming the largest, most valuable organic cannabis brand in the world.

Jeff Scott, currently serving as Co-Chair, will assume the role of Chairman of the Board.

ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.

The Green Organic Dutchman Holdings Ltd. is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis. The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.

The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario, Quebec and Jamaica.

The Company has developed a strategic partnership with Aurora Cannabis Inc. (TSX:ACB) whereby Aurora has invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. In addition, the Company has raised approximately C$315 million dollars and has over 20,000 shareholders.

TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively.

Original press release

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Published by NCV Newswire
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