CannTrust Holdings Inc (TSX: TRST), a Canada-based licensed producer of medical cannabis, announced yesterday that it has named Peter Aceto as its chief executive officer of CannTrust, effective immediately.

The company says that Aceto is globally recognised and a seasoned professional who brings decades of significant experience in leading companies in the public markets. For 10 years previously, he was president & CEO of Tangerine Bank (formerly, ING Direct); held the positions of chief risk officer, chief of staff and chief lending officer at ING DIRECT in the US and was legal and general counsel at ING DIRECT in Canada.

Eric Paul, CannTrust's co-founder and leader said, 'It has been a great honour to serve as the CEO of CannTrust since its inception only five years ago. I take great pride in our team's collective accomplishments and the incredible progress we have made in such a short period of time. With the opening of the recreational market just around the corner, and the numerous opportunities that our company is positioned to capitalise on, the timing is impeccable to bring Peter on board.'