Exactus Inc (OTCMKTS:EXDI), the CBD producer, announced late Wednesday that Emiliano Aloi, the company’s president, will assume the duties of interim CEO and said it has launched a search for a new CEO following the departure of Philip Young.
In a statement, Exactus noted that Aloi has over 15 years of agroindustrial experience with five years of CBD-related experience, including seed selection, cultivation, harvesting and manufacturing.
“I am extremely excited about all of the progress that Exactus has made since entering the CBD market in January of 2019 and its prospects for the future,” Aloi said.
“Currently, we have the infrastructure in place to produce quality CBD products starting at the farm all the way to consumer products. My years of experience and strong relationships in the hemp industry will enable us to continue to move the company forward in becoming a leader in this exciting emerging market.”
Exactus also said Bobby Yampolsky, founder of Ceed2Med LLC, the company’s largest shareholder, will assume the duties of interim chairman.
Yampolsky was appointed to the Exactus board in June and has already been instrumental in creating material value through his extensive business network as a serial entrepreneur, the group pointed out.
Yampolsky noted that the board is looking for a new CEO who can take the CBD company to the next level.
“We are seeking to enhance our team by adding a senior executive that has led a public company through aggressive growth with deep brand creation and supply chain management experience as well as a global focus.” he said in the statement.
“Our CEO should possess the drive to take our company forward in the rapidly growing hemp industry providing strong consumer branding, pharmaceutical or nutraceutical experience and track record with proven eight-figure sales leadership.”
Exactus, based in Delray Beach, Florida, is pursuing opportunities in hemp-derived CBD products. It is building a US presence, recently acquiring Green Goddess Extracts, a Florida-based contract manufacturer and formulator of hemp and vape products.
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