AAWH - Florida Drops Criminal Charges Against Former Ascend Wellness Chief

The founder of Canadian cannabis company Ascend Wellness Holdings (CSE: AAWH.U) (OTCQX: AAWH), Abner Kurtin, will not face trial in Florida after state prosecutors decided not to pursue criminal charges.

The news comes two days after Kurtin stepped down from his CEO position. The company tapped Russell Reynolds, an executive recruiting firm, to search for a new permanent chief.

The former head honcho was arrested in Miami on Sept. 3 and charged with battery after a witness told police she saw him “striking” his girlfriend while they were parked in a car.

Ascend will be led by CFO Daniel Neville and President and co-founder Frank Perullo as co-CEOs while Kurtin’s permanent replacement is sought. Kurtin will transition to being executive chairman of the board.

The company board of directors hasn’t further addressed the allegations against Kurtin or an internal investigation the company said it had launched into the circumstances around his arrest.

“As the company prepares to enter the next phase of its growth story, the board determined that now was the right time to initiate this transition,” the earlier statement read.