Sundial Announces Departure of CEO and other Leadership Changes and Optimization Initiatives

Published: January 31, 2020

Sundial Announces Departure of CEO and other Leadership Changes and Optimization Initiatives

Sundial Growers Inc. has announced certain changes to its executive team and board of directors (the “Board”) as described below.

Board of Directors and Executive Team Changes

  • Torsten Kuenzlen has resigned as the Company’s Chief Executive Officer (“CEO”) and will step down as a director, effective immediately, to pursue other interests;
  • Zach George, currently a member of Sundial’s Board, has been appointed as CEO and will continue as a director;
  • Ted Hellard has stepped down from his role as Executive Chairman, but will continue to serve on the Board, and as Chair of the Mergers and Acquisitions Committee;
  • Brian Harriman, Sundial’s Chief Operating Officer (“COO”), will be leaving Sundial and his portfolio will be transitioned to Andrew Stordeur; and,
  • Andrew Stordeur, currently President of Sundial’s Canadian operations, will be appointed as President and COO in recognition of his expanded role.

Sundial is committed to continuing to implement strong corporate governance practices throughout the organization. In addition, the Board will continue to evaluate future opportunities to further strengthen the Company and position it for long-term growth and value creation. Sundial’s management team is committed to the long-term success of the Company and has the extensive operational, marketing and business experience needed to maintain its position as a leader in the industry.

Greg Mills, Chairman of the Board, said, “We are extremely fortunate to have Mr. George join us as CEO. His successful track record for effecting corporate change through increased efficiency and operational improvements, along with his capital markets experience, will help drive the next chapter for Sundial. We are also pleased to announce the promotion of Andrew Stordeur to President and COO. His leadership and strong background in the consumer-packaged goods sector are critical to Sundial and his promotion furthers our efforts to streamline the organization.”

“I look forward to working with the management team at Sundial,” said Zach George, Sundial’s incoming CEO. “Sundial’s talent, state-of-the-art facilities and disciplined consumer product focus will be the drivers of its future success. As the market evolves, these attributes, along with our flexible operating structure, position us for long-term growth and sustainable value creation for our shareholders.”

Further details on Mr. George’s and Mr. Stordeur’s experience can be found below.

Recent News

View All News Items

Latest Article

Legalization 2.0: IP and Regulatory Considerations for Edibles, Extracts and Topicals

Legalization 2.0: IP and Regulatory Considerations for Edibles, Extracts and Topicals

The legalization of cannabis edibles, extracts and topicals will expand the cannabis market and create new opportunities for producers, innovators and investors. According to a recent report from Deloitte, the Canadian market for these new cannabis products is expected to be worth $2.7 billion annually, with edibles accounting for more than half ($1.6 billion).

 

Read Article