Cann Group has separated from chief financial officer Tony Di Pietro following only four months in the position, appointing former Melbourne Racing Club executive David Hine as finance manager in response.
The company described Di Pietro's exit as "mutually agreed", citing the need to reduce costs and the financial capabilities already present within its senior leadership as factors behind the decision.
His former duties will be distributed across chief executive and managing director Jenni Pilcher, company secretary Steven Notaro, and the incoming Hine.
Hine comes to Cann Group from communications company Whispir, having previously spent three years as finance manager at Melbourne Racing Club.
"The decision acknowledges that with Jenni Pilcher's permanent appointment as CEO and managing director, her extensive experience as CFO for ASX-listed companies results in overlapping competencies with Tony's role," the company said in a statement.
"The decision has also been made in the context of Cann's need to tightly manage expenditure."
When Di Pietro's appointment was announced earlier this year, then-Cann Group CEO Peter Koetsier described him as having a "brilliant track record of helping to oversee the successful evolution of smaller companies into successful operations".
