(Alliance News) - Cannabidiol and natural resources firm Zoetic International PLC said Tuesday it has appointed Paul Mendell as non-executive chair.
Mendell has been part of Zoetic since the company's IPO in 2015, when it was known as Highlands Natural Resources, and was its chief geologist when the company was focused on natural resources.
Mendell is also the co-founder of iodine producer Iofina PLC.
Following Mendell's appointment, Zoetic has established its new board, with Tulloch as chief executive, Melwyn Davies as interim chief financial officer, Trevor Taylor as strategy chief and Antonio Russo as chief revenue officer.
Taylor and Russo will take responsibility for Zoetic's cannabidiol business, while Senior Vice President Eric Anderson is in charge of the company's natural resources assets.
"I am delighted to welcome Paul to his new role with us. Since we announced our new strategy two weeks ago, Paul has been an enormous support. He has an in depth understanding of both sides of our business and, in particular, no one has as much knowledge of our natural resource assets, and of how to monetise them, as Paul," Tulloch said.
"We have a new name, a new strategy and a refocussed management team. While we are under no illusion about the scale of the task ahead of us, we are confident that our CBD business can be built into a highly profitable operation and that during that period it can be supported by realising value from our natural resources assets," Tulloch added.
Shares in Zoetic International were up 0.5% at 5.12 pence on Tuesday.