x

Posted 23 June, 2023

CANNAPHARMARX, INC. appointed Dean Medwid as new CEO

OTC:CPMD appointed new Chief Executive Officer Dean Medwid in a 8-K filed on 23 June, 2023.


  On June 1, 2023, the Company's Board of Directors appointed Dean Medwid as Chief Executive Officer.  

Don't how to trade CEO change? Read Reasons for CEO Turnover and Effect on Stock Performance.
Overview of CANNAPHARMARX, INC.
Health Care/Life Sciences • Pharmaceuticals
CannaPharmaRx, Inc. engages in the research and manufacture of cannabinoid-based pharmaceuticals. It focuses on the treatment of disease states such as neurological disorders, oncology, infectious disease, pain management, inflammatory disease, gastrointestinal disorders, and ophthalmology. The company was founded in August 1998 and is headquartered in Calgary, Canada.
Market Cap
$4.39M
View Company Details
CANNAPHARMARX, INC. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers;; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


Appointment of Chief Executive Officer


Pursuant to notice provided on June 1, 2023, Dominic Colvin stepped down as the Chief Executive Officer ("CEO") of CannPharmaRX, Inc. (the "Company") effective June 1, 2023. There was no disagreement between Mr. Colvin and the Company on any matter related to the Company's operations, policies or practices that led to Mr. Colvin's resignation as CEO.


On June 1, 2023, the Company's Board of Directors appointed Dean Medwid as Chief Executive Officer. Mr. Medwid's. Mr. Medwid is a dynamic senior operation executive with more than 30 years of experience in both public and private markets with a focus on scalable process engineering, brand development and strategic partnerships.


He has been recognized with numerous business awards and accolades, including Profit 100's Top 100 in Canada, five years in a row while a partner in Seattle's Best Coffee, additionally was a awarded the recognition of being one of Vancouvers Top 40 Under 40.


Mr. Medwid has a demonstrated history of increasing corporate performance through the management of process design, customer relationships, strategic planning along with a focused initiative of data-driven change management and utilized these skills as President of New Leaf Ventures, a publicly trade cannabis company with operations in both Canada and the USA. He has been in the cannabis industry for several years focused on mergers and acquisitions and harnessing the health and wellness benefits of plant material and distillates.


In connection with Mr. Medwid's appointment as CEO, the Company entered into an agreement with Mr. Medwid (the "Employment Agreement"), setting forth the terms of his employment and compensation. Pursuant to the Employment Agreement, effective June 1, 2023, Mr. Medwid will receive a base salary of up to CDN $17,325.00 per month. Further, Mr. Medwid is entitled to annual bonuses as recommended by the Board of Director's Compensation Committee and other reimbursement of certain expenses.


The description of the Employment Agreement does not purport to be complete and is qualified in its entirety by reference to the Employment Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.


There are no other arrangements or understandings between Mr. Medwid and any other persons pursuant to which Mr. Medwid was appointed as the Company's Chief Executive Officer. There are no family relationships between Mr. Medwid and any director or executive officer of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.