Nextleaf Solutions Ltd. announced that Chief Financial Officer Sam Kassem has been named interim CEO, effective immediately, following the resignation of Emma Andrews from her roles as chief executive, president, and director.
The board plans a comprehensive executive search to find a permanent CEO. Andrews, who spent eight years at the Vancouver-based company, served as CEO starting in September 2023 after a five-year tenure as director of marketing. She will remain engaged under an advisory arrangement to assist with transitioning key relationships and commercial priorities.
Kassem, who joined as CFO in September 2023 and became a director in December 2023, said his immediate priority is to take "a disciplined and objective look at the business" and ensure strategy, resources and capital are aligned with opportunities offering the strongest potential returns.
Nextleaf, which trades on the CSE under OILS, OTCQB under OILFF, and Frankfurt Stock Exchange under L0MA, describes itself as a licensed cannabis processor with consumer brands and cannabis derivative products. The company holds more than 75 global patents covering cannabinoid extraction and refinement.
The leadership transition comes as Nextleaf enters what the company called a renewed phase of strategic, operational and financial focus, including a comprehensive review emphasizing improved profitability, strengthened cash generation, increased operating efficiency, and reallocation of resources toward high-value commercial opportunities.
