Creso Pharma plans to rename itself Melodiol Global Health Limited, a move the company says will better reflect its diversified operations and international growth strategy.
Shareholder approval will be sought at a general meeting, the date of which is yet to be confirmed.
The company said the rebrand will "assist in best capturing the essence of the diversified operations of the group".
"Melodiol is a nod to the company's focus on combining traditional plant-derived remedies with modern scientific expertise to bring safe, natural and efficacious products to market for a growing group of source-conscious consumers," it said in a statement.
The company added that recent acquisitions, along with its intention to pursue further deals in the US and other key markets, prompted the decision to change its name.
In a separate announcement, Creso confirmed that founder and non-executive director Adam Blumenthal has resigned with immediate effect.
Taking his place on the board is Ben Quirin, a former Canopy Growth executive and previous colleague of Creso managing director William Lay.
Quirin most recently held the position of APAC managing director for Canopy Growth.
He departed the company late last year after four years in the role to join Invert, a company specialising in reducing emissions for corporations.
Blumenthal had been on the board since 2015 and was widely credited as a key figure in the company's ASX listing, growth and diversification.
His time at Creso was not without controversy, however, as he stepped away from the MD role following an investigation launched by the Australian Securities and Investments Commission (ASIC) in late 2021.
Creso Pharma said Quirin's experience building product and brand growth in new and emerging markets will be "imperative as the company continues to push towards reaching a cash flow positive position".
His appointment brings to three the number of former Canopy Growth executives at Creso, with Bruce Linton also serving on the board.
Jodi Scott, founder of Sierra Sage Herbs, is also joining the board as executive director.
Creso completed the acquisition of SSH in August.
Creso managing director William Lay said: "It is my pleasure to welcome Ben and Jodi to Creso Pharma's board. Having worked with Ben previously at Canopy Growth, I have witnessed first hand his ability to grow brands and products in new and emerging markets.
"We expect to benefit considerably from his appointment and anticipate having another Australian-based director may unlock several additional opportunities.
"Jodi's appointment also solidifies the importance of SSH as one of the company's major operating divisions. Her in-country presence will be imperative to Creso Pharma's growth in North America, which has been highlighted through recent progress and international expansion opportunities."
On the proposed name change, Lay said it "represents the global ambitions of the organisation".
Outgoing founder Ben Blumenthal said the company is in good hands.
"Having three ex-Canopy Growth executives within the company's board, being Bruce Linton, Will Lay and now Ben, leaves the company very well placed to capitalise on opportunities ahead," he said in a statement.
"Having worked closely with Bruce and Will over the past three and two years, respectively, I am extremely confident in their skillset and vision."
On the name change, Blumenthal said: "The proposed name change during Creso Pharma's ongoing expansion is extremely timely given the ongoing shift towards potential cannabis decriminalisation in the US, increased level of corporate activity and international expansion."
