Pot producer CannTrust fires CEO amid illegal grow scandal
Amid revelations that CannTrust Holdings Inc. was illegally growing pot in unlicensed rooms, the company fired Chief Executive Peter Aceto and forced President Eric Paul to resign, the company announced late Thursday.Aceto’s termination and Paul’s resignation were announced amid a widening scandal stemming from the Canadian cannabis producer’s illegal growing activities at its Ontario facilities.
CannTrust said it has appointed the chair of the special committee investigating the illegal grows, Robert Marcovitch, as interim CEO. Aceto was fired with cause, the company said. CannTrust disclosed the illegal grow operations July 8, several weeks after whistleblower and former employee Nick LaLonde emailed Health Canada detailing how the company was growing pot illegal in the unlicensed rooms. In May, CannTrust raised $195.5 million.
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