Dive Brief:

• Struggling cannabis retailer MedMen Enterprises Wednesday named a new CEO and CFO, the latest in a string of senior leadership role changes at the company in recent years.

• Effective July 24, cannabis industry veterans Ellen Deutsch and Amit Pandey will take over as the company’s CEO and CFO, respectively, according to a press release.

• “With the addition of Ellen and Amit, MedMen has completed the buildout of its go-forward management team,” MedMen’s Chairman Michael Serruya said in the release.

Dive Insight:

Once valued as high as $1.7 billion as a public company, Los Angeles-based MedMen is now on the brink of financial collapse, Fortune reported in February. The industry is struggling amid excessive debt, falling marijuana prices, competition from illegal sellers, and high taxes, the report said.

The company’s C-suite has seen a significant amount of churn in recent years. Deutsch is the company’s fifth CEO in three years and Pandey is its seventh CFO in five years, a spokesperson told CFO Dive in an email.

Pandey previously served as executive vice president and interim CFO of Clever Leaves International, a global medical cannabis company that he joined in its early stages and helped lead to a public listing, according to the release. Prior to that, he served as CFO of PayCommerce, a private-equity-backed fintech firm headquartered in Edison, N.J. He replaces Ana Bowman, whose resignation was announced in June.

Deutsch most recently served as senior vice president of market development and shared services at New York-based cannabis operator Acreage Holdings. Before joining Acreage, Deutsch served as executive vice president and chief operating officer at Stem Holdings, a Boca Raton-based cannabis company.

Deutsch succeeds interim CEO Edward Record, who will now continue as a non-executive member of MedMen’s board of directors, according to the release.