Zenabis Announces Appointment of Permanent Chief Executive Officer

Published: July 28, 2020

Zenabis Announces Appointment of Permanent Chief Executive Officer

Zenabis Global Inc. announces the appointment of Shai Altman as President and Chief Executive Officer of the Company, relieving Kevin Coft, Interim CEO, from that position effective 1 September, 2020.

Mr. Altman has over 20 years of leadership experience in the consumer packaged goods industry across several categories and countries around the globe. He was previously the President of McCain Foods, Canada, where he led the business through a significant turnaround that resulted in year-over-year, record breaking margin improvements and EBITDA growth, as well as the reversal of a decade of topline sales declines. Prior to McCain Foods, Mr Altman built extensive executive experience with Wrigley/Mars across the globe, including as President of Wrigley Canada where he led the business through a significant market-share growth phase that led to market leadership after 100 years of business, as well as launching new product categories and distribution channels.

He also previously served as General Manager of Wrigley in India; and General Manager of Wrigley in Israel.  He brings with him strong leadership skills with extensive operational, sales and marketing, and strategic planning experience gained over the past 20 years in a variety of management and executive roles. In particular, Mr. Altman has a focus in consumer-packaged-goods businesses, with particular, focused experience over 11 years in the Canadian market.

Mr. Altman commented, “I am incredibly excited to be taking over as the CEO of Zenabis. I believe that the fundamental operational core of the business is extremely strong, with incredibly cost-competitive operations and cultivation capacity, and strong relationships with provincial and territorial distributors across Canada. I look forward to transitioning the business to a long-term, consumer-focused mindset as the company emerges from its initial construction and operational establishment phases.”

“Zenabis is pleased to welcome Shai to the team as CEO,” said Daniel Burns, Chair of Zenabis. “His deep and varied experience across the entire spectrum of leadership and operations, and in particular his experience in CPG in Canada and globally, make him incredibly well-suited to contribute to Zenabis’ continued growth.”

Kevin Coft will remain with Zenabis, having most recently been the Chief Facilities Officer prior to his appointment as Interim CEO in December of 2019. Mr. Burns added, “On behalf of the Zenabis management team and Board of Directors, I would like to thank Kevin for his commitment in his role as Interim CEO. We are incredibly pleased with Kevin’s guidance through the operational rationalization that took place as we adjusted to the competitiveness of the Canadian recreational cannabis market.”

Mr. Coft added, “I am thankful for the opportunity I received to serve Zenabis during this interim period. As I enter my sixth year with the business, I am happy to have been able to participate in the operational rationalization required to secure our competitive position in the Canadian marketplace.”

Zenabis is a significant Canadian licensed cultivator of medical and recreational cannabis, and a propagator and cultivator of floral and vegetable products. Zenabis employs staff coast-to-coast, across facilities in Atholville, New BrunswickAldergrovePitt Meadows and Langley, British Columbia; and Stellarton, Nova Scotia. Zenabis currently has 111,200 kg of licensed cannabis cultivation space across four licensed facilities. Zenabis has 3.5 million square feet of total facility space dedicated to a mix of cannabis production and cultivation and its propagation and floral business.