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Feb 5, 2019

Ex-Namaste CEO Dollinger says he remains committed to the company after firing

Namaste fires CEO Sean Dollinger, launches review

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The former chief executive of Namaste Technologies Inc. (N.V) says he remains committed to the company even after he was fired from his position.

Sean Dollinger was abruptly ousted as CEO on Monday after the company completed an internal investigation that was prompted by a short-seller’s allegations in October.

"I intend to begin setting the record straight and clearing any misconceptions caused by the inaccurate allegations levelled against me," Dollinger said in a statement Tuesday morning.

“In the meantime, I continue to be committed to the company as a director on the board and as its largest shareholder,” he added. “I also support the newly appointed chief executive and chief strategy officers.”

The Toronto-based medical cannabis company said at the time of the firing that it was launching legal action against Dollinger for damages and disgorgement, after identifying alleged breaches of fiduciary duty and self-dealing related to the sale of its U.S. division, Dollinger Enterprises US Inc., in 2017.

Namaste also claimed its internal probe found subsequent transactions involving assets and companies in which Dollinger and Namaste’s head of marketing, David Hughes, “have a beneficial interest.”

Namaste Chief Product Officer Meni Morim has replaced Dollinger as CEO on an interim basis.

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