TerrAscend Announces Management and Board Changes

Published: March 24, 2021

TerrAscend Announces Management and Board Changes

TerrAscend Corp., a North American cannabis operator, announced that Jason Ackerman is stepping down from his role as CEO and Executive Chairman of the Company effective March 23Jason Wild, current Chairman of the Board, will assume the position of Executive Chairman with the senior management team reporting directly to him.  Additionally, Ed Schutter, current board member, has been appointed Lead Independent Director.

Richard Mavrinac, board member commented, “As the only TerrAscend Board member who pre-dates Jason Wild’s start as Chairman and lead investor in 2017, I have witnessed firsthand how he has shaped and grown TerrAscend into the innovative and profitable multi-state operator that it is today. With an extremely talented team in place and some of the best operational assets in the industry, I have every confidence that Mr. Wild will continue to lead the company to exciting new heights in his new and expanded role as Executive Chairman.”

“On behalf of the entire team, I’d like to thank Jason Ackerman for his contributions as CEO and Board Member during his time with TerrAscend,” said Jason Wild, Executive Chairman. “Unfortunately, there were differences in philosophy over management style and culture, and the Board and I decided it is in the best interest of the Company for us to part ways. We wish him the best in all his future endeavors.”

Wild continued, “TerrAscend has achieved a great deal to date and there is a once in a generation opportunity ahead of us.  We are currently identifying a leader that has experience guiding large consumer companies through this type of explosive growth and value creation.”

TerrAscend is a leading North American cannabis operator with vertically integrated operations in PennsylvaniaNew Jersey, and California in addition to operating as a licensed producer in Canada. For more information, visit www.terrascend.com.

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