CEO Berman leaves cannabis firm Harborside; board chair picked as interim

Women, minority execs show few gains in U.S. cannabis industry, according to the latest data from the MJBiz Diversity, Inclusion and Equity Report. Get your copy here.


One of the most well-known and longest-operating cannabis dispensary owners in the nation, California-based Harborside, announced Monday that its CEO has stepped down and a new interim chief executive officer was appointed.

Andrew Berman, who has served as CEO, president and board member since January 2018, relinquished the reins of the Oakland, California-based company, effective immediately.

Last Thursday, Berman spoke with MJBizDaily Investor Intelligence equity analyst Mike Regan in a podcast.

Since going public in June, Harborside’s stock (HBOR) has slumped on the Canadian Securities Exchange from an opening of 6 Canadian dollars ($4.60), although the stock rallied on Monday morning, after the Berman announcement

Peter Bilodeau, chair of Harborside’s board of directors, will take over as interim CEO until a permanent replacement is chosen.

“Given the changing and challenging market conditions, the Board believes a new and broader leadership team is necessary to accelerate the growth of the Company,” Harborside said in a release.

Harborside’s board also appointed:

  • Greg Sutton as chief operating officer of cultivation and manufacturing.
  • Lisah Poore as chief retail office.
  • Mireille Duclos as head of the human resources department.

“These changes are expected to accelerate the Company’s growth, advancing Harborside as a leading cannabis retailer in California and driving shareholder value,” Bilodeau said in the release.

Both Sutton and Duclos will be focusing on a “cost-cutting program” by Harborside designed to “drive efficiencies and cost-management initiatives … toward the achievement of strong sustainable profitability.”

Last week, Harborside announced it had settled for $11 million a lengthy battle over business deductions with the Internal Revenue Service.

For more on this story, click here.

For analysis and in-depth looks at the investment trends and deals driving the cannabis industry forward, sign up for our premium subscription service, Investor Intelligence.