Sativa Group PLC (LON:SATI) has appointed Henry Lees-Buckley, a former global executive at Fortune 500 industrial supply firm W. W. Grainger (NYSE:GWW), as its new chief executive with immediate effect.
The medicinal cannabis group said Lees-Buckley’s expertise in major capital markets businesses, executive leadership and mergers & acquisitions would be of “great use” as it sought to accelerate “organic and acquisitive growth” and attract a broader investor base including institutions.
Meanwhile, Sativa’s founder and current CEO Geremy Thomas would transition to the role of deputy chairman and continue to deliver his “significant knowledge and expertise in the medicinal cannabis industry”.
Thomas said Lees-Buckley had the “enthusiasm, expertise and experience” to grow the business “significantly”.
Lees-Buckley added that the firm had a “significant runway ahead” and that the UK cannabis market was “particularly exciting as it is adopting already globally proven interest in CBD wellness and medicinal cannabis products”.
Sativa’s shares were trading at around 5.8p on the NEX exchange on Monday lunchtime.