Althea Group Holdings Limited (ASX:AGH), a leading FMCG organisation specialising in the manufacturing, sales, and distribution of THC beverages, has announced the resignation of its Chief Executive Officer and Director, Mr. Joshua Fegan, effective immediately. Transition arrangements are in place to ensure a smooth handover. Mr. Fegan, the founder of AGH, has served as CEO since the company’s inception and played a pivotal role in expanding patient access to medicinal cannabis in Australia and the UK, as well as leading the company’s entry into the THC beverage markets in Canada and the US.
The Board of AGH has appointed Mr. Barry Katzman as Interim CEO. Mr. Katzman brings over two decades of experience in the alcoholic beverage industry and has been leading Peak Processing Solutions for the past two and a half years, during which the company tripled its revenues. His base remuneration remains at CAD360,000 per annum, with an incentive package to be agreed upon in due course.
Chairman Vaughan Webber thanked Mr. Fegan for his dedication and welcomed Mr. Katzman to the leadership role, expressing confidence in his ability to drive the growth of the company’s THC beverage business. Mr. Katzman expressed his enthusiasm for leading AGH at this crucial time and leveraging the company’s THC beverage expertise globally.
Mr. Fegan stated that founding and leading AGH has been a defining experience, acknowledging the challenges overcome and expressing confidence in the company’s future. He thanked employees, shareholders, the Board, and partners for their support. The Board of Althea Group Holdings Ltd authorised the release of this announcement to the ASX.
