TerrAscend Corp. - CEO, Jason Ackerman
CEO, Jason Ackerman
Source: Business Wire
  • Cannabis operator, TerrAscend Corp (CSE:TER), has appointed Jason Ackerman as Chief Executive Officer of the company
  • Jason Ackerman became the company’s Executive Chairman late last year, and has been acting as interim CEO since January
  • In further news, the company is relocating its financial base from Toronto to New York and as a result, the company’s current Chief Financial Officer, Adam Kozak, will step down
  • Adam will remain on until the end of April, at which point TerrAscend’s comptroller, Dr. Stephen Baranowski, will become interim CFO, until a permanent replacement can be found
  • TerrAscend Corp (TER) is up 6.19 per cent, with shares trading for C$2.40 and a market cap of $168 million

Cannabis operator, TerrAscend Corp (CSE:TER) has appointed Jason Ackerman as Chief Executive Officer of the company, effective immediately.

Jason Ackerman became the company’s Executive Chairman late last year and has been acting as interim CEO since January. Before joining TerrAscend, Jason led the team at FreshDirect, an online grocery store.

In further news, the company is relocating its financial base from Toronto to New York. As a result of the move, the company’s current Chief Financial Officer, Adam Kozak, will step down from his position.

In his place, the company’s comptroller, Dr. Stephen Baranowski, will become interim CFO at the end of April, until a permanent replacement can be found

The move to New York is part of the company’s new focus on the US market. TerraAscend hopes that the move will help further grow the company’s footprint in the states.

Speaking in his new role, Jason Ackerman stated he’s energised to continue leading the team’s movement into the US market.

“I believe TerrAscend has best-in-class assets and a talented team that uniquely positions us to capitalize on the opportunities ahead.

“I have a deep respect for all the work that has taken place to develop the current US footprint, and I look forward to working closely with the Board, members of our management team, and all employees as we deliver exceptional results for our customers and shareholders,” he said.

Jason enters the company at a challenging time. A poor industry market coupled with the ongoing economic impact of COVID-19 pandemic have created a difficult environment for North American cannabis companies.

Over the last 12 months, TerrAscend has almost halved its market cap, but has since gained a portion of those losses back over the last few weeks.

TerrAscend Corp (TER) is up 6.19 per cent, with shares trading for C$2.40 at 9:33am EST.

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