Growlife, Inc. (OTCMKTS:PHOT) gained 1.24% in the last trading session to close at $0.0082 after the company indicated that had implemented a new leadership structure that will ensure there is efficient incorporation of new acquisitions as well as ensure the company continues to grow.
Executive leadership changes
Growlife has reorganized its leadership by assigning new titles and responsibilities to the executive members in different departments. John Barnes who has been in the company for long and has shown great success in sales management will lead the marketing and sales divisions as the company’s Sales and Marketing Executive Vice President. All national sales teams are required to answer to Barnes, and they will be led by Brian Knight who was announced recently as National Sales Manager.
William Blackburn has been named as the Research and Development Executive Vice President. He has over 20 years in product development and manufacturing in the cannabis industry, and he was a co-founder of EZ-CLONE Enterprise Ltd that was acquired recently by Growlife. EZ-CLONE is a leading equipment manufacturing company, and it continues to make progress in the cloning and propagation of cannabis. Blackburn in his new role will have the responsibility of furthering the development of Growlife’s proprietary product line as well as those of EZ-CLONE for the company’s commercial vertical integration.
The new Executive Vice President for Mergers and Acquisition is Mark Scott who will continue in his current position as CFO. He will oversee Growlife’s financial operations with assistance from Foday Dean who got hired recently as Corporate Controller in addition to his responsibility of overseeing negotiations and future acquisitions.
Structural changes strategy for growth
Growlife CEO, Marco Hegyi indicated that the company was restructuring its organizational leadership as it prepares for more acquisitions and expansion. He added that they have managed to integrate the acquisition of EZ-CLONE in half the time they used in previous acquisitions. All executive vice presidents will operate autonomously in their functional area, and they can add to their teams to increase efficiency and enable Growlife to seamlessly integrate future acquisitions and continue to grow.