• Terrace Global (TRCE) has appointed a new company President and Chief Operating Officer, effective immediately.
  • New President and COO Stephen Lermer will be leading and managing the company’s international operations.
  • Mr Lermer bring over 38 years’ experience in the medical and pharmaceutical industry to Terrace Global.
  • Terrace Global’s share price remains the same, with shares trading at $0.16 apiece.

Cannabis company Terrace Global (TRCE) has appointed a new President and Chief Operating Officer, effective immediately.

Stephen Lermer, formerly of Charlotte’s Web Holdings, will be leading and managing the company’s international operations. This will include the build-out of Terrace Global’s cultivation and processing facilities in Uruguay and Portugal.

Mr Lermer recently resigned from his role as Chief Operating Officer at cannabidiol producer Charlotte’s Web. He bring over 38 years of experience in the medical and pharmaceutical industry to his new position.

He has held senior leadership and executive positions at companies including Akela Pharma, Argenta, Burroughs Wellcome (now GlaxoSmithKline), Johnson & Johnson, Orion Oyj, and Rhone Poulenc (now Sanofi-Aventis).

Mr Lermer also has the benefit of a globalised business perspective, after living and working in places including Europe, the Caribbean, Central America, South America, and North America.

CEO and co-founder of Terrace Global, Francisco Ortiz von Bismarck, welcomed the appointment. “Stephen is uniquely qualified to lead the development and expansion of our operations in Europe and Latam (Latin America). He has a global perspective on the cannabis and hemp industries and will be able to leverage his extensive relationships in the U.S. and abroad to help Terrace Global grow into [a] household name.”

Terrace Global’s share price remains the same, with shares trading at $0.16 apiece.

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