The chairman of Althea, Andrew Newbold, will step down next week after six years with the company.
He will be replaced by seasoned executive Vaughan Webber at the conclusion of a board meeting on August 29.
No reason was given for his resignation.
Newbold said it has been a “privilege” t0 serve as Althea chairman since September 2018.
“I am proud of what we have achieved together and I am confident that the company is in excellent hands with Vaughan as the new chairman,” he said. “His experience and vision will be critical as AGH continues to grow and evolve in the dynamic cannabis industry.”
Webber is an experienced company and finance director and holds a number of board positions.
Althea chief executive Josh Fegan praised Newbold for his service to the company.
“His leadership has been instrumental in navigating AGH through key phases of growth and his legacy will have a lasting impact on the company,” he said.
“We are equally excited to welcome Vaughan as our new chairman. His extensive experience and strategic insight make him an excellent fit for AGH.”
