MariMed Board of Directors Appoints Edward Gildea as Chairman and Jon Levine as Chief Executive Officer
MariMed, Inc. (CSE: MRMD, OTCQX: MRMD) announced a leadership change on February 28, 2023, appointing Jon Levine as Chief Executive Officer and Edward Gildea as Chairman of the Board.
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Rhea-AI Summary
MariMed, Inc. (CSE: MRMD, OTCQX: MRMD) announced a leadership change on February 28, 2023, appointing Jon Levine as Chief Executive Officer and Edward Gildea as Chairman of the Board. Levine, co-founder of MariMed, has been serving as Interim CEO since the passing of Bob Fireman in December. The Board believes Levine's extensive industry experience positions him well to continue the company's mission established by the founders. Gildea praised Levine's leadership and vision, indicating strong support from the Board for the strategic plan moving forward.
Positive
- Jon Levine's appointment as CEO may provide continuity and stability following the recent leadership transition.
- Levine's long-term familiarity with the company and its mission could positively influence future strategies.
Negative
- None.
Details
News Market Reaction – MRMD
The recorded move for MRMD in the trading session of this news was -2.20%.
Data tracked by StockTitan Argus. Session date unavailable.
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NORWOOD, Mass., Feb. 28, 2023 (GLOBE NEWSWIRE) -- MariMed, Inc. (CSE: MRMD), (OTCQX: MRMD) (“MariMed” or the “Company”), a leading multi-state cannabis operator (“MSO”), today announced its Board of Directors (the “Board”) has appointed Edward Gildea as Chairman of the Board and Jon Levine as Chief Executive Officer. Mr. Gildea has served as an independent director of the Company since 2013. Mr. Levine, co-founder and President of MariMed, has served as Interim CEO since the December passing of co-founder, Chairman, and CEO Bob Fireman.
Following its search process for the Company’s permanent CEO, the Board concluded Mr. Levine was most qualified to help MariMed achieve the mission that he and Mr. Fireman created as co-founders over a decade ago.
Edward Gildea commented, “Jon’s deep industry experience, his tenured and proven leadership of the Company, and his clear vision for its future, are unparalleled and will serve MariMed’s shareholders very well. The Board looks forward to providing Jon the support he needs to lead the continued implementation of the Company’s strategic plan.”
“I am humbled at the opportunity to lead MariMed as CEO and am particularly thankful to the Board for entrusting me to continue the mission that drove Bob and me to create this great company,” said Jon Levine. “We have built a strong, profitable business while improving people’s lives every day. I look forward to navigating MariMed’s future alongside the greatest team in the cannabis industry.”
About MariMed
MariMed Inc., a multi-state cannabis operator, is dedicated to improving lives every day through its high-quality products, its actions, and its values. The Company develops, owns, and manages seed to sale state-licensed cannabis facilities, which are models of excellence in horticultural principles, cannabis cultivation, cannabis-infused products, and dispensary operations. MariMed has an experienced management team that has produced consistent growth and success for the Company and its managed business units. Proprietary formulations created by the Company’s technicians are embedded in its top-selling and award-winning products and brands, including Betty's Eddies, Nature’s Heritage, InHouse, Bubby’s Baked, K Fusion, Kalm Fusion, and Vibations: High + Energy. For additional information, visit www.marimedinc.com.
Investor Relations Contact:
Steve West
Vice President, Investor Relations
Email: ir@marimedinc.com
Phone: (781) 277-0007
Company Contact:
Howard Schacter
Chief Communications Officer
Email: hschacter@marimedinc.com
Phone: (781) 277-0007
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