CanniMed CEO Brent Zettl resigns, effective immediately

CanniMed Therapeutics (CMED.TO), which is being acquired by Aurora Cannabis, said Chief Executive Officer Brent Zettl has resigned.

Aurora senior vice president Andrċ Jérôme, previously tasked with heading the acquisition of CanniMed, will serve as interim CEO.

Aurora is almost set to close the purchase of CanniMed, creating the world’s most valuable weed firm after months of tensions between the companies.

“I would like to express our gratitude to Brent for his leadership of CanniMed over the past three decades,” Chief Financial Officer John Knowles said in a statement.

In a combined statement, the companies said Zettl will assist CanniMed and Aurora in an advisory role through the merger.

Aurora had originally made a hostile bid capped at $24 per share for CanniMed, and increased it to $43.

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