Business
Marijuana Company of America Announces Changes in Corporate Leadership and Strategy
Marijuana Company of America Announces Changes in Corporate Leadership and Strategy.
About this update from Marijuana Company Of America, Inc.
[{"type":"text","content":"\n\n\n\nMarijuana Company of America Announces Changes in Corporate Leadership and Strategy\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMarijuana Company of America Announces Changes in Corporate Leadership and Strategy\n- Co-founder Donald Steinberg resigns as CEO\n- Jesus Quintero promoted from CFO to Principal Executive Officer of the Company\n- New corporate direction is to acquire hemp and cannabis companies to expand Company's vertical integration strategy\nPR Newswire\nESCONDIDO, Calif., Dec. 9, 2019\n\n\n\nESCONDIDO, Calif., Dec. 9, 2019 /PRNewswire/ -- Marijuana Company of America, Inc.  (\"MCOA\" or the \"Company\") (OTCQB: MCOA), an innovative hemp and cannabis corporation, today announced the resignation of Donald J. Steinberg as Chairman of the Board, Chief Executive Officer, and Treasurer.\n\"It has been an honor to lead the Company these past four years and to serve the customers, stakeholders, and staff who have been part of the foundation of the Company,\" said Mr. Steinberg, one of the founders of the Company. \"I am proud of what we have accomplished as a team thus far and know that the Company will continue to grow its presence in the cannabis industry. Also, I am positive that the Company will create additional innovative ideas and pioneering technologies for its customers and stakeholders worldwide and make the right corporate maneuvers and strategic acquisitions to establish meaningful scale in the industry. As many of you know, one of my passions is the development of start-up ventures. I believe in the future of the cannabis marketplace and greatly desire to be a part of advancing the innumerable opportunities that are yet to be discovered. For this reason, I have decided to step down as CEO to allow the Company to pursue new groundbreaking opportunities under new leadership.\"   \nThe new focus and goal of the Company will be to enter strategic acquisitions with various operational cannabis and hemp companies that are distressed in order to expand the Company's vertical model. Additionally, the Company intends to expand i...