22nd Century falls on executive leadership changes

22nd Century

24/07/2023 18:18

** Shares of agricultural biotech co 22nd Century Group Inc
 XXII.O  fall 43% to $2.77
    ** Co appoints John Miller, its tobacco business unit lead,
as the interim CEO
    ** Says CEO James Mish will continue to serve as a member of
board of directors 
    ** Stock set to post worst day since Nov. 20, 2019, if
losses hold 
    ** Also announces commencement of estimated $15 mln
annualised cost reduction initiative
    ** Stock down ~79.72% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))