Beth Stavola resigned as chief strategy officer and board director for troubled multistate cannabis operator iAnthus Capital Holdings.
The company did not expound on the resignation of Stavola, who previously served as a senior vice president at Wall Street firm Jefferies & Co. before joining MPX Bioceuticals. MPX merged with iAnthus in 2018.
In April, Hadley Ford resigned as CEO and a director after a company investigation found he failed to disclose two loans totaling $160,000 in what was determined a “potential or apparent” conflict of interest.
New York-based iAnthus, which maintains offices in Toronto, is in the midst of a restructuring and recapitalization effort after defaulting on interest payments in June.
The company said the decision to terminate the merger was mutual, citing a “prolonged timeline to achieve the necessary conditions to close combined with the adverse market conditions surrounding the industry and broader economy.”