The Hydroponics Company (ASX:THC) has received and accepted the resignation of David Radford – its Chief Executive Officer. He had been in the role for five months. He will continue to manage a professional transition of current projects currently underway.
As a result of his resignation He has also withdrawn his candidacy for election oat the inaugural AGM and will resign from all subsidiary boards.
The news comes as shares in the medical marijuana sector have been doing well over the past year after the federal government introduced legislation to let it be prescribed for medical purposes and to allow its cultivataion and exportation abroad as long as suitable licences were granted and regulatory hurdles cleared.
Shares in The Hydroponics Company (ASX:THC) closed down 6.25% to $0.60 yesterday.