Peter Crock has resigned as chief executive of Cann Group after conceding the company needs “fresh leadership”.
He will remain with the firm until a replacement is found.
In a statement, Crock said: “I believe it is time for fresh leadership to guide the company through its next phase of growth.
“Much has been achieved over recent years, with the establishment of our state-of-the-art manufacturing operations, key regulatory approvals, the development of our Satipharm delivery technology and a world class plant breeding and genetics program. The focus now is on ramping up our commercial operations as we look to capitalise on these assets.
“I will remain fully focused on implementing our growth plans until my successor is appointed and will then be available for the period that is appropriate to ensure a smooth transition.”
Crock, who is chairman of Medicinal Cannabis Industry Australia, became CEO in 2016 and led the company to its listing on the ASX the following year.
But it has been far from plain sailing for the company since announcing plans to construct a facility at Mildura.
The project was down-scaled and suffered delays caused by Covid, while the firm has struggled to generate any meaningful revenue.
Cann Group chairman Allan McCallum said the search for a new CEO will begin immediately.
“With the company now poised to accelerate its revenue growth – and with exciting initiatives underway such as our Satipharm CBD S3 registration program and a potential distribution agreement with Haleon – I’m confident we can attract a high-quality candidate with strong industry and commercial experience, who can execute on our plans for commercial growth.
“The board acknowledges Peter’s major contribution over the past several years and appreciates his commitment to ensure an orderly succession process.”
Cannabiz understands Crock will stay on at Medicinal Cannabis Industry Australia (MCIA), the industry body he currently chairs.
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