The Board of Directors of Organigram Holdings Inc. announced recently that Derrick West, the company’s Chief Financial Officer, will be stepping down from his position to focus on his health and recovery following a forthcoming surgery. West has been serving the company since 2017, first as a board member and later as CFO starting in 2020.
Paolo De Luca Appointed as Interim CFO
Organigram has appointed Paolo De Luca, the current Chief Strategy Officer, as interim CFO, effective November 13, 2023, while the company searches for a new permanent CFO. De Luca has experience managing financial strategies and operations for numerous companies across various industries, making him a valuable addition to Organigram’s executive team during this transition period.
Company Commends West’s Contributions
Ms. Goldenberg, the Chief Executive Officer of Organigram, conveyed her appreciation for the contributions made by Derrick West during his time with the organization. She remarked that Derrick’s tenure has been marked by his significant role in fortifying the company’s financial operations and spearheading its ERP system’s introduction. Derrick has been instrumental in guiding the company through a substantial growth phase, including acquiring the facilities in Winnipeg and Lac-Supérieur. She further noted that his involvement since joining the board in 2017 and his tenure as CFO since 2020 have been invaluable to Organigram.
About Organigram Holdings Inc.
Organigram Holdings Inc., a company traded on both the NASDAQ Global Select Market and the TSX, encompasses wholly-owned subsidiaries like Organigram Inc. This subsidiary is recognized as a licensed entity in Canada for the production of cannabis and its derivatives, including cannabis-infused edibles. The company is actively advancing in the expanding cannabis industry, constantly seeking novel approaches to deliver top-tier products to its clientele.
Organigram’s Ongoing Search for a New CFO
The search for a new permanent CFO is underway, with Organigram seeking a candidate with an extensive skill set and experience in managing financial operations and strategies. This process aims to ensure that the selected individual can maintain the high standards set by Derrick West during his tenure.
Continuous Growth and Development for Organigram
Despite the departure of its CFO, Organigram remains dedicated to continuous growth and development in the competitive cannabis industry. The appointment of Paolo De Luca as interim CFO provides stability during the transition period, signaling confidence in his abilities to help guide the company through potential challenges. It is still uncertain who will take the role of permanent CFO. Still, the ongoing search indicates the company’s determination to find the best fit for its needs, ensuring continued success in its financial and strategic endeavors.