CannTrust CEO fired, chairman resigns amid Health Canada investigation
CannTrust Holdings Inc. says its board has fired its CEO amid an ongoing Health Canada investigation into alleged illicit activity at the cannabis company.
The Vaughan-based company says in a statement its board of directors terminated chief executive Peter Aceto with cause.
The shakeup comes as the board’s special committee uncovered new information during its ongoing investigation into the company’s failure to comply with Health Canada regulations.
Health Canada says it discovered during an unannounced inspection in June that the pot firm was growing cannabis in several rooms before securing appropriate licenses.
The board also asked company chair Eric Paul to resign, and says Paul did so.
The company says the board appointed the special committee’s chair Robert Marcovitch as interim CEO and he will no longer be a member of the committee.
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© 2019 The Canadian Press
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