The new executives will help guide the cannabis company’s strategic direction into a new phase of development
1933 Industries Inc (CSE:TGIF) (OTCQX:TGIFF) announced Monday the appointments of Paul Rosen as its interim CEO and Eugene Ruiz as its president to guide the vertically integrated cannabis consumer packaged goods company’s strategic direction into a new phase of development.
In a statement, the company noted that Rosen is a successful entrepreneur and a pioneer in the global cannabis industry, having founded, led and invested in multiple companies over the past decade.
Rosen co-founded PharmaCan Capital Corp (NASDAQ:CRON) (TSE:CRON) and served as its first president and CEO. He also has held board positions with a number of publicly traded cannabis companies and currently serves as the executive chairman of Global Go, a consultancy focused on the global regulated cannabis industry.
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He is also a significant shareholder in 1933 Industries, as a result of his private placement investment in the company in March 2019.
1933 Industries said Ruiz is a seasoned executive with strong leadership skills and broad–based operational expertise. He has held numerous executive positions - including CEO, CFO and COO - across a number of industries in the US. Ruiz has led the turnaround of several companies into profitable enterprises.
Most recently, he served as CFO and executive vice president of the largest privately owned, multi-state retail nursery operation in the western US, where he led the company from break-even to profitability, while quadrupling revenue.
"The appointments of these two accomplished business leaders are reflective of the company's accelerated focus on execution,” Terry Taouss, chairman of the 1933 Industries board said in a statement.
“Paul's exceptional background in the cannabis industry in both the US and Canada is unmatched. Eugene has extensive executive leadership experience and a proven track record of leading companies to profitability.”
As part of the leadership changes, former CEO Chris Rebentisch has departed the company and Ester Vigil will no longer serve as its president.
1933 Industries, based in Chilliwack, British Columbia, owns licensed medical and adult-use cannabis cultivation and production assets, proprietary hemp-based, CBD-infused branded products, CBD extraction services and a specialized cannabis advisory firm.
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