Nextleaf Solutions names Sam Kassem interim CEO amid strategic review

Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) announced that Emma Andrews has stepped down as Chief Executive Officer, President, and director of the company, effective immediately. The Canadian cannabis processor appointed Sam Kassem, its current Chief Financial Officer and director, as Interim Chief Executive Officer.

Andrews joined Nextleaf eight years ago, serving five years as Director of Marketing before becoming CEO in September 2023. She will remain engaged with the company under an advisory arrangement during a transition period to assist with key relationships and commercial priorities.

Kassem has served as CFO since September 2023 and as a director since December 2023. He brings more than a decade of cannabis industry experience, including co-founding a U.S.-based cannabis business and holding senior leadership roles in Canada and the United States.

Alongside the leadership change, Nextleaf's board and management said they intend to conduct a comprehensive review of the business, focusing on profitability, cash generation, operating efficiency, and allocation of resources toward higher-value commercial opportunities. The board will also conduct an executive search for a permanent CEO.

"My immediate priority is to take a disciplined and objective look at the business and ensure that our strategy, resources and capital are aligned with the opportunities that offer the strongest potential returns," Kassem said in the statement.

Nextleaf holds more than 75 global patents related to cannabinoid extraction and refinement and maintains more than 35 active SKUs across five product categories under its Glacial Gold, High Plains Cannabis, and Yard Cannabis brands.

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