He is an experienced strategist with a strong understanding of building high-value consumer brands with significant revenue
Corp () (OTCMKTS:PEMTF) is tapping online e-commerce expert Ryan Hoggan as its new CEO as the cannabis firm embarks on a busy year.
Hoggan’s appointment comes as Vancouver-based Mota recently closed the acquisition of Wyoming’s First Class CBD, of which Hoggan is a founder, making him a “natural fit” for the CEO role, according to the company.
The firm is also preparing to roll out its European CBD brand Sativida in the US.
READ: Mota Ventures marks major milestone with acquisition of online retailer First Class CBD for US$32M
Hoggan is an experienced strategist with a strong understanding of building high-value consumer brands with significant annual revenue, Mota told shareholders in a statement.
The new CEO boasts over 18 years of experience in the health equipment, medical devices and natural health products industries. As the founder of Hoggan Medical, he launched over 100 health, fitness and medical devices and led successful negotiations with big-name customers like the Mayo Clinic, Boeing and the NBA’s Los Angeles Lakers.
Hoggan’s entry into the world of CBD brands came after a personal health scare prompted him to try natural products to improve his own wellbeing, according to the company’s statement. He became a partner and president of Offer Space LLC and Real Oil LLC, two burgeoning CBD and natural health e-commerce firms for a global consumer base. Hoggan also led a strategic divestiture of the businesses to Unified Funding, one of the lead investors in First Class CBD.
"I am very excited to take on the CEO role at Mota and focus the operations on becoming a global E-commerce CBD company,” Hoggan told investors in a statement over the weekend.
READ: Mota Ventures reveals tie-up with e-commerce firm Unified Funding to expand Sativida brand in the US
Hoggan also said he was excited about the partnership between Unified and Sativida, given Unified’s extensive experience in the US and strong logistics and supply chain will provide significant support for the launch of the Sativida line in the US.
“I believe through the direct-to-consumer online platforms we will become a leader in the CBD space,” Hoggan said.
Mota plans to aggressively expand First Class's existing operations in the US as well as launch a European expansion, which it anticipates will yield similar results to its US operations last year, according to Hoggan.
Mota’s Joel Shacker will transition to the role of president and remain on the board of directors.
"We are extremely happy to have someone with Ryan's extensive experience stepping into this role,” Shacker told shareholders.
“I am confident in his ability to execute on expanding operations and generating further revenue. I look forward to continuing to build the company in my new role as president and to working with Ryan during his transition to CEO of Mota."
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