- GenCanna Global has named veteran executive Andrew Barnett as its new CEO.
- Barnett took over as CEO once the $77 million deal to sell GenCanna’s assets was complete.
- Barnett has years of experience leading companies and is taking over just as the company is emerging from bankruptcy and beginning a new path.
GenCanna Global, a hemp processor and CBD manufacturer in Kentucky, has appointed veteran executive Andrew Barnett as its new CEO as it emerges from bankruptcy.
The decision came with the success of GenCanna selling most of their assets to MGG Investment Group, a New York-based private direct lender that also served as one of GenCanna’s creditors.
The deal was valued at $77 million and allowed MGG Investment Group to recoup its investment while also buying GenCanna out of Chapter 11 bankruptcy protection. This allows the company to maintain their operations in Winchester, Kentucky.
Barnett took over as new CEO once the deal was completed.
“I am pleased to join GenCanna at this critical time in its evolution and look forward to stewarding the company into its next chapter,” stated Barnett.
“GenCanna’s industry-leading technology and deep customer focus will enable it to continue to deliver great products, especially at a time when consumers are increasingly aware of and incorporating high-quality CBD into their health and wellness routines. Today, GenCanna is a stronger, better capitalized, and more competitive company that is poised to further its leadership position in the still emerging hemp industry.”
Andrew Barnett has a lot of experience overseeing the strategic, operational, and financial needs of both publicly and privately held companies. He has worked with a wide range of businesses, from start-up to long-standing, and has dabbled in retail, health and wellness, manufacturing, and distribution.
Before taking over as CEO of GenCanna, Barnett founded and managed Horizon Advisors, served as both the CEO and president of Resolute Anesthesia and Pain Solutions, and was CEO and CFO of the Center for Wound Healing.
“GenCanna is a proud Kentucky-bred business and has a bright future under Andrew’s leadership,” stated founder of GenCanna Global Matty Mangone Miranda.
