The Ever-Evolving Cannabis Industry: These Are Latest Leadership Changes You Should Know About
The U.S. Hemp Roundtable Taps Two Prominent Executives In Hemp Beverage Space Into Its Ranks
The U.S. Hemp Roundtable made headlines in early September as its board of directors welcomed two distinguished leaders from the hemp beverage sector to its officer ranks. Art Massolo, vice president of business development at Cycling Frog, agreed to serve as the new executive vice president, while Aaron Nosbisch, founder of BRĒZ, assumed the role of vice president of E-Commerce.
"Beverages represent the fastest-growing segment of the hemp industry, and the Roundtable is blessed to have two of the industry's most prominent leaders join us as Vice Presidents," Jonathan Miller, the Roundtable's general counsel, said.
Cannabis Leadership Shake-Ups In New York
New York's chief equity officer at the state Office of Cannabis Management, Damian Fagon, has formally resigned, effective November 27. He was previously cleared of any wrongdoing in an inspector general investigation that found no basis for allegations of retaliation against a cannabis company, reported Green Market Report.
Fagon was placed on administrative leave this spring after cannabis processor Jenny Argie filed a lawsuit claiming that he had retaliated against her business by advocating for a recall of her products following her criticism of the OCM to Syracuse.com last year. That lawsuit was dismissed in July.
In the meantime, New York Cannabis Control Board recently got a new member in September. Crystal J. Rodriguez-Dabney was appointed to serve on the board as per a decision from state Assembly Speaker Carl Heastie, following a recommendation from Majority Leader Crystal Peoples-Stokes, GMR reported.
"This is a wonderful opportunity and an ever bigger responsibility as we seek to ensure equity in the entire process. Looking forward to working with the (Office of Cannabis Management) and learning the ins and outs of this legendary legislation," Rodriguez-Dabney, who succeeded former member Adam Perry, wrote in a social media post.
Legal Saga Around Massachusetts Regulatory Body Continues
Former chair of Cannabis Control Commission of Massachusetts Shannon O'Brien lost her legal battle with State Treasurer Deborah Goldberg resulting in her being fired last month. O'Brien was originally appointed to serve a five-year term in 2022 and has denied the misconduct allegations. Goldberg suspended O'Brien last September accusing her of making "racially, ethnically and culturally insensitive statements."
Goldberg named Bruce Stebbins acting chair of the regulatory body, succeeding O'Brien who now plans to appeal her firing as the chairwoman of CCC to the Supreme Judicial Court, reported The Cannabist.
Cannabis Board Changes
Aurora Cannabis Inc.'s CEO Miguel Martin agreed recently to serve in the additional role of executive chairman. Outgoing chairman Ron Funk will serve as lead independent director going forward.
IM Cannabis Corp., a leading medical cannabis company with operations in Israel and Germany, announced last month that Shmulik Arbel has been appointed to its board of directors effective Sept. 9.
Rubicon Organics Inc. welcomed Jesse McConnell to its board of directors in early September, after receipt of security clearance from Health Canada.
Canopy Growth Corporation's shareholders each of the directors listed as a nominee at their annual general meeting of shareholders held on Sept.24, including David Klein, Willy Kruh, David Lazzarato, Luc Mongeau and Theresa Yanofsky.
TILT Holdings Inc.'s Adam Draizin opted to step down from the company's board of directors effective Oct. 1. Marshall P. Horowitz was appointed to the board as Draizin's replacement.
Flora Growth Corp. (FSE: 7301) named Harold Wolkin as an independent director on its board of directors last month. In this role, Wolkin also agreed to serve as a member of each of the company’s committees, including as chair of the audit committee. Separately, Clifford Starke, the company's CEO, was recently tapped as a member of the board of directors of HoshiCap, a subsidiary of Hoshi International which has a cannabis cultivation facility in Portugal.
Other Appointments And Resignations
CANNAVIGIA, a Swiss tech start-up focused on innovative cannabis solutions via software and consulting, announced recently that founder and CEO Luc Richner opted into the role of chief strategy Officer, while Timo Bongartz, chief commercial officer, agreed to replace Richner as CEO.
Nextleaf Solutions Ltd. named Emma Andrews as its CEO. Andrews has acted as the Company’s Interim CEO since Sept 8, 2023, and has been with the company for six years, previously as the director of marketing.
Endexx Corporation appointed Doug Williams, CPA, as fractional CFO through his consulting firm, Alexander & Williams PLLC in early October.
AYR Wellness Inc. President and CEO David Goubert stepped down from his role in the company last month. The board has approved the appointment of Steven M. Cohen as interim CEO.
Cresco Labs Inc. announced last month that Dennis Olis, CEO, retire after a planned transition to Sharon Schuler, a financial and strategy executive.
SNDL Inc. announced in early September that after two decades of leadership and innovation in the liquor industry, Taranvir (Tank) Vander, president of the liquor division, retired from the company to pursue new opportunities.
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