The chief executive of one of Minnesota’s two medical marijuana manufacturers has left the company after years of financial losses.
Andrew Bachman, LeafLine Labs’ co-founder and its chief executive since 2016, is no longer with the company “in any official capacity,” the company said in a Thursday statement to The Associated Press. The company’s entire 5-member board has also been replaced.
The statement didn’t give a reason for Bachman’s exit, and a company official didn’t respond to questions about his departure. Bachman didn’t respond to a voicemail or text message seeking comment.
But LeafLine has struggled since medical marijuana sales began in 2015 in Minnesota. The Cottage Grove-based company lost $6.9 million in its first two financial years, and documents provided by state regulators to The AP showed LeafLine lost another $5.3 million in 2017.
Two top executives left LeafLine last year and it temporarily scaled back its operations in November during a supply shortage that Bachman blamed on lab testing delays.
LeafLine was founded and backed by several family members of the popular Minnesota nursery Bachman’s Floral Garden and Gift Centers, though it’s unclear if any family members are still involved at the company after Bachman’s exit. [Read more at Minnesota Public Radio]