HEXO Corp (NASDAQ:HEXO) (TSX:HEXO) announced that Charlie Bowman has been appointed the company’s acting president and CEO. Bowman will move into a permanent role upon the successful completion of Health Canada’s security clearance process for key personnel, which has been initiated. Concurrently, Scott Cooper is stepping down from his role as HEXO’s president and CEO.
"I am honored to lead HEXO into the future," stated Charlie Bowman, HEXO's incoming CEO. "We are entering the next phase of HEXO’s strategic growth plan by remaining laser-focused on becoming cash-flow positive, expanding our leading brands market share across Canada’s recreational market, whilst growing our international business and launching new products for Medical."
Bowman previously served as HEXO’s Acting COO and general manager of HEXO USA.. After resetting operations as Acting COO, he is well positioned to guide HEXO towards becoming cash flow positive.
“I am pleased to welcome Charlie to his new role at HEXO. I have no doubt that his leadership and commitment to executing HEXO’s strategic plan will lead the organization into its next phase of growth,” stated executive chairman, Mark Attanasio, “On behalf of the entire organization, I would like to thank Scott Cooper for his leadership through a very challenging period.
The company also announced the departure of acting CFO Curtis Solsvig and the appointment of Julius Ivancsits as acting CFO, effective May 16, 2022. Ivancsits will move into a permanent role upon the successful completion of Health Canada’s security clearance process for key personnel, which has been initiated.
Ivancsits will play a key role in executing HEXO's strategy to drive profitable growth and enhance shareholder value. He has extensive international experience in manufacturing with both private equity and family office sponsors and is well versed in corporate turnarounds. Prior to joining HEXO, he served as CFO at Goba Capital, Alpha Measurement Solutions and Be Green Packaging along with long multiple roles at CPKelco with progressively increasing experience.
Solsvig will remain with the company in an advisory role through to May 31, 2022, in order to facilitate a smooth transition.
Photo: Courtesy of HEXO Corp