Peter Crock has stepped down as chief executive of Cann Group, acknowledging that the company requires "fresh leadership" to move forward.
He will stay on in the role until a suitable successor is appointed.
In a statement, Crock said: "I believe it is time for fresh leadership to guide the company through its next phase of growth.
"Much has been achieved over recent years, with the establishment of our state-of-the-art manufacturing operations, key regulatory approvals, the development of our Satipharm delivery technology and a world class plant breeding and genetics program. The focus now is on ramping up our commercial operations as we look to capitalise on these assets.
"I will remain fully focused on implementing our growth plans until my successor is appointed and will then be available for the period that is appropriate to ensure a smooth transition."
Crock, who chairs Medicinal Cannabis Industry Australia, took the CEO position in 2016 and steered the company through its ASX listing the following year.
Since announcing plans to build a facility at Mildura, however, the company's path has been anything but smooth.
The Mildura project was scaled back and hit with Covid-related delays, and the company has struggled to generate substantial revenue.
Cann Group chairman Allan McCallum said the hunt for a new chief executive would begin straight away.
"With the company now poised to accelerate its revenue growth – and with exciting initiatives underway such as our Satipharm CBD S3 registration program and a potential distribution agreement with Haleon – I'm confident we can attract a high-quality candidate with strong industry and commercial experience, who can execute on our plans for commercial growth.
"The board acknowledges Peter's major contribution over the past several years and appreciates his commitment to ensure an orderly succession process."
It is understood Crock will continue in his role at Medicinal Cannabis Industry Australia (MCIA), the industry body he currently chairs.
