Flora Growth Corp. (NASDAQ:FLGC) announced Thursday changes to its board of directors including the appointment of CEO Luis Merchan as chairman of the board as well as the addition of industry veteran Tim Leslie to the board and audit committee.
Merchan has replaced Bernie Wilson as chairman of the board. Wilson will remain in an advisory capacity for the remainder of 2022 and will provide strategic guidance on capital markets and international expansion. The changes to the board will further position Flora as a U.S.-based issuer and is expected to increase the company’s access to U.S-based investment.
Flora chairman and CEO Merchan has been focused on expanding the company’s reach within the United States and abroad. Through his leadership, Flora has moved from the development stage to a full-scale international distributor and house of brands with operations in more than 12 countries. He has been pivotal in completing recently announced M&A transactions with leading hardware manufacturer Vessel and highly regarded wellness company JustCBD, solidifying the path to rapid growth.
“I am honored that our Board has entrusted me with this role, and I believe it is a testament to what we have built together thus far,” stated Flora Growth CEO and newly appointed chairman of the board Merchan. “Our Board has been incredibly supportive to date while always ensuring business decisions are in the best interest of our shareholders - and I am looking forward to continuing to work closely with them in this role.”
A Yale Law graduate, Leslie has a strong pedigree of success, working with scaling companies including his two decades at Amazon (NASDAQ:AMZN) . Leslie has been chairman of the company’s advisory board since the beginning of 2022, where he has utilized his years of experience as CEO of Leafly and as an Amazon executive to help counsel Flora’s leadership team. As Flora continues its rapid, global expansion, Leslie will play a critical role in navigating this hyper-growth phase. In addition to his role as board member, Leslie will also join the company’s audit committee.
Luis Merchan, president and CEO of Flora Growth Corp., will be one of the speakers at the Benzinga Cannabis Capital Conference in Miami. There’s still time to sign up for the event that will host many top names in the cannabis industry. Click here for more info.
