Medical cannabis company Little Green Pharma's founder Fleta Solomon has stepped down as chief executive to reduce her workload and focus on other divisions of the business.
Under the leadership transition announced to this market this morning, Ms Solomon will step aside from the top position at the end of August to reduce her workload.
She will remain on the board with a part-time executive role focused on external communications, marketing, ESG and branding.
In her place, the board appointed chief operating officer Paul Long as incoming chief executive.
Mr Long joined the Perth-based company in 2018 and has held the role of chief operating officer since.
“After seven years in the role as chief executive, living and breathing Little Green Pharma, I’ve elected to reduce my workload and focus increasingly on those parts of the LGP business I’m most passionate about,” Ms Solomon said.
“While this is a difficult decision personally, it was made much easier knowing we have a ready-made replacement in our COO Paul Long.”
In the ASX statement, the company said Ms Solomon had no plans to divest her shares, other than potential small parcels to fund tax obligations if required, given that she is the third-largest shareholder in LGP.