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SEATTLE - Cannabis discovery marketplace Leafly Holdings, Inc. announced Wednesday the appointment of Peter Lee as Chief Executive Officer, effective immediately. Lee, who has served as the company’s president and Chief Operating Officer since 2024, will continue to serve on Leafly’s Board of Directors. The leadership change comes at a challenging time for the company, which has seen its stock price decline 95% over the past year, currently trading at $37, down significantly from its 52-week high of $1,065.
The leadership change comes as former CEO Yoko Miyashita resigned from her position and board seat effective November 21, according to the company statement.
Lee’s history with Leafly extends back to the company’s public listing, having previously served as President, Chief Financial Officer and board member of Merida Merger Corporation until its merger with Leafly in 2022. His background includes co-founding and managing Sentinel Rock Capital, a long/short equity-oriented hedge fund, from 2011 to 2018.
Prior to Sentinel Rock Capital, Lee held various positions at other hedge funds including Spring Point Capital, Blackstone Kailix, and Tiger Management.
Leafly operates as an online marketplace focused on cannabis discovery, providing resources for consumers navigating the cannabis market.
The company did not provide specific details regarding the circumstances of Miyashita’s departure or future strategic direction under Lee’s leadership in its press release statement.
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