The next cash flow casualty: Harborside ousts CEO

It seems that Andy Berman wasn’t executing Harborside’s cost cut and cash generation plans fast enough, and has been replaced as CEO only four days after our Executive Webcast with him.

This is another example of a cash flow casualty. Executives need to articulate exactly how and when they will generate cash as the cannabis funding market tightens up.

In our webcast, it sounded like cash continued to burn in the third quarter. By ousting Berman, it seems Harborside’s board is more interested in positive cash generation, not merely slowing that burn.

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