Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) co-founder and CEO Jesse McConnell is currently on paternal leave and will step down from his position by the end of the year.
On Friday, the Vancouver-based cannabis producer announced that the board of directors has already begun searching for the next CEO and in the meantime, CFO Margaret Brodie will serve as the liaison between the board and the leadership team.
McConnell co-founded Rubicon in 2015 along with Peter Doig and it is now one of the leading organic cannabis producers in Canada.
This month, the company released its second-quarter financial results and reported net revenue of $8.8 million which is a 92 per cent increase from last year. It also reported having 7 per cent market share in flower and pre-rolls and the number one pre-roll brand in Canada.
Read more: Rubicon Organics Q1 revenue drops to $5.2M, market share declines
Read more: Rubicon receives global certification standard for medical cannabis production
“My job as co-Founder and CEO has been to get the business to a place where there is a highly talented team in place, a super-premium quality product and a financially stable and profitable business,” McConnell said.
“I’m incredibly proud that the company is at this stage. I have loved my journey as Rubicon’s CEO and I look forward to finding the right individual to lead us to even greater heights.”
Rubicon sells cannabis products under the brands, Simply Bare Organic, 1964 Supply Co., LAB THEORY and Homestead Cannabis Supply.
Company stock went up 2.22 per cent on Friday to $0.92 on the Canadian Venture Exchange.
