Key Takeaways:
- Carl Nesbitt has stepped down as CFO of Acreage Holdings, effective December 31, 2023.
- Philip Himmelstein, VP of Financial Planning & Analysis at Acreage, will assume the role of Interim CFO.
- Nesbitt's resignation from the Board of Directors is effective immediately.
- CEO Dennis Curran praised Himmelstein's contributions and leadership within the company.
- Himmelstein has extensive experience in healthcare and financial services prior to joining Acreage.
A Change In Leadership
Acreage Holdings, Inc., a leading vertically integrated, multi-state operator in the U.S. cannabis industry, announced in a news release a significant change in its executive team.
Carl Nesbitt has decided to step down from his role as Chief Financial Officer to pursue new opportunities, with his resignation effective December 31, 2023. Additionally, Nesbitt has resigned from the Company's Board of Directors, effective immediately.
Philip Himmelstein, who has been with Acreage since September 2020 and serves as the Vice President of Financial Planning & Analysis, will be stepping in as the Interim Chief Financial Officer.
Himmelstein brings over 17 years of experience in healthcare and financial services to this role. During his tenure at Acreage, he has been instrumental in several company milestones, including operational streamlining and enterprise resource planning rollout.
Dennis Curran, Chief Executive Officer and Chairman of Acreage expressed his confidence in Himmelstein's abilities to guide the company, particularly in the strategic oversight and financial acumen he brings. Curran also acknowledged Nesbitt's contributions to Acreage, thanking him for his service and wishing him well in his future endeavors.
What We Think
The transition in the CFO position at Acreage Holdings marks a significant change in the company's executive leadership.
Carl Nesbitt's departure and Philip Himmelstein's appointment as Interim CFO come at a critical time for Acreage as the company continues to navigate the complex and rapidly evolving cannabis market.
Himmelstein's background in financial planning and operational finance and his experience within Acreage positions him well to lead the company's financial strategy.
This transition could signal a new phase of strategic development for Acreage, particularly in enhancing operational efficiency and pursuing growth opportunities.