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cbdMD (NYSE:YCBD) announced that Martin Sumichrast has resigned as CEO and a board member, effective immediately. Board member Scott Stephen was named Board Chair and board member Scott Coffman, former co-CEO and the operating company founder, will consult with the board in leading the company until a new CEO is named. The SEC recently filed an action against Sumichrast in relation to his role at a private company he earlier managed. Shares rallying 10.9% higher premarket.