A CEO Makes Tough Business Decisions to Turn an MSO Around - Robert Beasley

• Robert joined Fluent as an advisor to the board in January 2020, shortly before the CEO at the time stepped down
• Robert helped guide the company for a few months, urging the board to find a new CEO, but after multiple candidates didn’t fit the board offered him the position as he was essentially running the company already
• At that time the board wanted to sell the company, but Robert was making adjustments and the company was becoming increasingly better. Robert continued to make tough business decisions for the future:
  • Closing outdoor cultivation facility in Michigan
  • Closing operations in Puerto Rico, and Brazil
  • Putting Columbia operations on ice
  • Nixed Australia and Estonia plans
  • Improving vertical operations in Florida
    • Retail shops were previously running out of inventory before noon
• Prior management stuck in Green Rush days
  • Fluent became asset heavy, but revenue depleted

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