Alimentation Couche-Tard exec takes helm of cannabis retailer Fire & Flower

Canadian cannabis retailer Fire & Flower appointed Stéphane Trudel as chief executive officer, effective immediately, the company announced Thursday.

Trudel had been senior vice president of operations for Alimentation Couche-Tard, a Quebec-based convenience store operator that owns about 20% of Fire & Flower’s shares.

Alimentation Couche-Tard plans to boost its stake to roughly 35%.

Trudel takes the reins from Trevor Fencott, who had served as CEO since 2018.

Fencott also resigned from Fire & Flower’s board of directors.

“Over the past four years we built Fire & Flower from the ground-up into one of the world’s largest licensed cannabis retailers, powered by our unique Hifyre retail and consumer technology platform,” Fencott said in a new release.

“We also secured and deepened our strategic partnership with Alimentation Couche-Tard, one of the world’s largest retailers, to provide us with capabilities to expand globally.”

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Toronto-based Fire & Flower has more than 100 corporate-owned stores in Canada.

Shares of Fire & Flower trade on the Toronto Stock Exchange as FAF, and the retailer plans to list its shares on the Nasdaq exchange.