AusCann chief executive Layton Mills has quit the company after 18 months at the helm.
The firm said he will “continue to support the company” during a six-month notice period before “pursuing other business interests”.
Mills took over as CEO from Nick Woolf in January 2021 following AusCann’s acquisition of CannPal Animal Therapeutics, a business Mills had founded.
He said in a statement: “I am thankful for the opportunity given to me by the board and shareholders of AusCann during the last 18 months and would like to personally thank the AusCann board for their support. I look forward to following the company’s journey.”
AusCann chairman Tod McGrouther said the board will work with Mills to “manage the transition” during the remainder of 2022.
A new CEO will be appointed “at the appropriate time”, he added.
The resignation comes a day after AusCann revealed it is loaning joint venture partner Eurocann a further A$3.5m as the firms pursue opportunities in Australia and Germany.