CannTrust appoints two new directors

The board is now comprised of Robert Marcovitch (chair), Mark  E. Dawber, Greg Guyatt, Dan Hogan, Shawna Page and Mitchell Sanders.

Greg Guyatt has been Chief Executive Officer of the Company since February 2020, having joined CannTrust as Chief Financial Officer in February 2019. Previously, he served as the CFO of GreenSpace Brands Inc., a Canadian-based premium natural food product company, and brings more than 20 years of experience leading high-performing finance teams from the CPG, retail, pharmaceutical and private equity sectors.

From 2009 through 2016, he held increasingly senior finance roles at Sears Canada, and prior to that spent seven years in the pharmaceutical industry. In these roles, he had responsibility for a broad portfolio including governance, strategic planning, risk management, financial reporting and treasury. Guyatt has a wealth of M&A and capital markets expertise, having begun his career at Deloitte, before spending several years as an investment banker with UBS in the United Kingdom. Guyatt holds a B.Comm from Mount Allison University, and has CPA and CA designations.

Dan Hogan is the former Head of Strategic Priorities at CannTrust. He is a seasoned executive with over 40 years of experience in consumer products companies, with revenues ranging from $200 million - $23 billion. Dan brings strong operations, finance and executive leadership skills to the Board. He also has extensive experience in restructuring, remediation, continuous improvement, and strategic development. Prior to joining CannTrust, Hogan was the CEO of eBags Inc., an internet retailer of travel goods.

Prior to that, he was the Chief Operating Office and Chief Financial Officer of the Coleman Company, a $1.3 billion international manufacturer of outdoor equipment. Hogan also brings international experience, having been responsible for operations and businesses in Europe, Asia, Latin America, and North America at Georgia-Pacific, World Kitchen, Coleman, and eBags.

CannTrust remains under CCAA protection to facilitate its efforts to resolve its civil litigation claims and complete its review of strategic alternatives, which includes a review of financing options. According to the press release, "aspects of the ongoing efforts remain confidential, and the company is unable to predict with any certainty either their timing or outcome."

In the meantime, the reinstatement of its cannabis licenses and the restoration of its ongoing operations, CannTrust's re-entry into the Canadian recreational and medical cannabis business segments, and its entry into a Restructuring Support Agreement are "essential to the company's focus on rebuilding its franchise."

Source: CannTrust via Greenhouse Canada

Photo by CRYSTALWEED cannabis on Unsplash

Source: Greenhouse Canada