Guyatt resigns as CEO of Canadian marijuana producer Phoena

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Greg Guyatt resigned from his position as CEO of Canadian cannabis producer Phoena “to pursue new challenges,” the Vaughan, Ontario-based company announced.

Guyatt had been CEO since early 2020, when the company was still called CannTrust Holdings.

Phoena did not share the reason for Guyatt’s departure.

Corné Melissen has been appointed interim CEO.

Melissen is the owner of Phoena’s lead investor, Kenzoll B.V., a Netherlands-based private equity investment company.

CannTrust secured a new investment led by Marshall Fields International B.V., a subsidiary of Kenzoll B.V., in early 2022.

“We wish Greg well with his future endeavors, and I am looking forward to working with the Phoena team to continue our journey to becoming a formidable player in the cannabis industry,” Melissen said in a statement.

Early in his tenure at Phoena, Guyatt steered the company through a turbulent time, helping the firm get back on its feet after a cultivation scandal in mid-2019 resulted in regulatory and legal actions.

Three former executives were acquitted of all charges in December 2022, after a court case collapsed.