Closing SP $3.04 suggests the market isn’t too concerned as well.
I see there is a “President, California Operations” on the management team so I can rationalize that Pedersen as President is redundant. However, with millions of shares, I’m surprised he was dropped from the board.
I think there was a director/executive management disagreement on a major decision - divestiture, stock dilution/financing, sale of assets, acquisition of Sunniva...