FREDERICTON -- The president of NB Liquor and Cannabis NB has resigned after 16 months on the job.

The Crown corporation said in a news release that Patrick Parent has decided to return to the private sector in a CEO role.

During Parent's time at the corporation, Cannabis NB went from a money-loser to a moneymaker.

Parent says his decision to leave was not easy and he's proud of the "tenacity and resiliency" of the employees, especially during the pandemic.

New Brunswick's government announced in November 2019 it was seeking proposals for a private operator to take over Cannabis NB.

The province has yet to announce whether it will privatize the corporation, however, following the COVID-19 pandemic and the recent profits of the state-owned company.

This report by The Canadian Press was first published Dec. 23, 2020.