Peter Aceto has been appointed as Chief Executive Officer of CannTrust. Eric Paul, CannTrust’s Co-Founder and leader, has stepped down from his role as Chief Executive Officer, and has been named Chairman of the Board and Special Advisor to CannTrust’s management team. Mark Litwin is assuming the role of Vice Chairman.
“It has been a great honour to serve as the CEO of CannTrust since its inception only five years ago. I take great pride in our team’s collective accomplishments and the incredible progress we have made in such a short period of time,” said Paul. “With the opening of the recreational market just around the corner, and the numerous opportunities that our Company is positioned to capitalize on, the timing is impeccable to bring Peter on board.”
Previously, for 10 years, Peter Aceto was President & CEO of Tangerine Bank (formerly, ING Direct); held the positions of Chief Risk Officer, Chief of Staff and Chief Lending Officer at ING DIRECT in the U.S., and was Legal and General Counsel at ING DIRECT in Canada.
“The Board, Brad Rogers (CannTrust President), and I are confident that with Peter’s successful track record of strong leadership, deep operational knowledge and focus on delivering shareholder value, he will be the perfect compliment to our leadership team and the best candidate to lead our Company into the next phase of our rapid growth,” Paul continued.
“I am incredibly excited to have been chosen to lead CannTrust at such an important point in the Company’s evolution. The opportunities that lie ahead are limitless,” said Aceto. “We have a great team in place and I am thrilled to be leading the corporate strategy and vision to drive our business forward.”
“CannTrust is in an enviable position today thanks to the strong leadership, foresight and unwavering dedication of Eric Paul,” said Litwin. “On behalf of the Board of Directors, our stakeholders and our staff, I would like to acknowledge and thank Eric for his many contributions, tireless efforts and for being the key driver of our growth and success to date.”