CEA Industries CEO to Step Down

Dow Jones05:50

By Katherine Hamilton

CEA Industries Chief Executive David Namdar plans to depart by the end of August.

The board is engaging a recruiting firm to help find a successor, and Namdar plans to stay in his current role while a new leader is found.

Namdar joined CEA in August 2025 when the company was transitioning from a pure controlled-environment agriculture business to a digital asset treasury company. It has since started accumulating Binance cryptocurrency.

"David has played an important role in developing and implementing BNC's digital asset treasury strategy," said lead independent director Carly Howard.

CEA also posted a loss of $106.6 million, or $2 a share, for the fiscal third quarter. The company said it observed a recent contraction in yields on the Binance platform.

CEA owns more than 500,000 Binance coin, Namdar said.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

March 16, 2026 17:50 ET (21:50 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The company said it observed a recent contraction in yields on the Binance platform. \n\n\n  CEA owns more than 500,000 Binance coin, Namdar said. \n\n\n \n\n\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 16, 2026 17:50 ET (21:50 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2620920534","isCrawlerRequest":true}