Globe helps Aphria advertise for CEO to replace Neufeld

Aphria Inc (C:APHA)
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Friday January 11 2019 - In the News

The Globe and Mail reports in its Friday edition that Vic Neufeld will step down as chief executive officer of Aphria, sources say, when the cannabis grower finds a replacement for him. The Globe's Marina Strauss and Christina Pellegrini write that Aphria, which has been facing questions about its deal-making and a slumping stock price, is expected to say on a quarterly conference call today that it is beginning a search for someone to replace Mr. Neufeld in the top job, which he has held since 2014. The company is hoping to attract a prominent executive with global know-how to step into Mr. Neufeld's job -- and not necessarily someone from the cannabis sector. Aphria has not set a date for the departure of Mr. Neufeld, who will also step down as a member of Aphria's board. The expected announcement of his departure comes weeks after Aphria was targeted by two short-sellers in a report that criticized the company's nearly $300-million stock deal to acquire marijuana assets in Colombia, Argentina and Jamaica. Aphria has disputed the report, calling it defamatory. Last month, Mr. Neufeld stepped aside as chairman to make way for an independent director, Irwin Simon, in the post. Mr. Neufeld previously was CEO at Jamieson Laboratories Ltd.

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APHA Canadian marijuana producer Aphria says CEO to step down

Alert Sent 2019-01-11 07:21:41 AM ET

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Canadian marijuana producer Aphria says CEO to step down

2019-01-11 07:19:04 AM ET (Reuters)


Jan 11 (Reuters) - Cannabis producer Aphria Inc said on Friday Chief Executive Officer Vic Neufield would step down from his position in the coming months.

The company, which recently received an all-stock hostile bid from U.S. cannabis retailer Green Growth Brands Ltd , said total revenue more than doubled to C$21.7 million ($16.4 million). ($1 = 1.3201 Canadian dollars) (Reporting by Laharee Chatterjee in Bengaluru Editing by Saumyadeb Chakrabarty)