On Tuesday, Alcool NB Liquor and Cannabis NB announced their president and CEO is resigning.
Patrick Parent, who’s been in the position for just over a year, is returning to the private sector according to the company announcement.
“This was not an easy decision. During my time with ANBL and Cannabis NB, I’ve seen first-hand the dedication and commitment both teams have to managing and operating successful retail businesses for the people of New Brunswick,” said Parent in a news release.
“The tenacity and resiliency the teams have shown, especially during a global pandemic, has made me proud,” he said.
Parent joined the corporations in September 2019, after a role as vice-president at Moosehead Breweries.
In June, Parent said the cannabis corporation expected to turn a profit this fiscal year. Cannabis NB’s fourth-quarter results for 2019-2020 showed a $500,000 profit, with yearly losses coming in at $4.3 million.
Last month, the Crown corporation celebrated 12-straight months of profitability.
“On behalf of the board of directors, I thank Patrick for his dedication to his teams during his tenure,” said John Correia, chair of corporation’s board, in the Tuesday release.
“Patrick’s leadership has been instrumental in Cannabis NB’s ongoing success and the development of the ANBL strategic plan.”
Parent’s final day at work is Dec, 31, after which Lori Stickles, vice-president of finance and CFO, will begin acting as president and CEO on Jan. 1, 2021.