Isaac Dietrich, the founder of Denver-based MassRoots Inc., has been replaced as CEO, and the marijuana-tech company's planned acquisition of CannaRegs Inc. reportedly has stalled.
A report by Forbes describes the move as a "stunning coup," adding: "Dietrich has been losing the support of the board as the company burned through cash, while revenues continued to drop."
And Business Insider reports that Dietrich was "abruptly fired."
But in a press release, MassRoots said that Scott Kveton "was appointed interim CEO this week as part of a planned transition for MassRoots' founder and former CEO, Isaac Dietrich, who remains an active member of the company's board of directors."
Read more at the Denver Business Journal: http://bit.ly/2yXixa7