Medicine Man Hires Justin Dye As CEO, Executive Chairman

Medicine Man Technologies Inc. MDCL announced Monday that it has appointed Justin Dye of Dye Capital as CEO and executive chairman.

In this role, Dye will concentrate on the company’s push for planned acquisitions and strategic growth, according to Medicine Man. 

The company said it plans to close a series of pending acquisitions in the following year, after which it will run 12 cultivation operations, 34 dispensaries, seven product manufacturing operations and advanced research, development and innovation operations. 

"The combination of a world-class executive team, the great people of Medicine Man Technologies and its targeted acquisition partners creates a team that is unrivaled in the industry,” Dye said in a statement.

Medicine Man co-founder and outgoing CEO Andy Williams will take on the roles of vice chairman and president, the company said. 

"I am excited about the next chapter of Medicine Man Technologies," Williams said in a statement.

"I am an entrepreneur at heart, and being able to focus on new initiatives and opportunities across the industry will enable the company to thrive in this ever-changing landscape. We are at a critical stage in the company's growth, and bringing in Justin to lead the day-to-day operations enables an even greater focus on building a strong company positioned for long-term success."

Medicine Man also appointed Bob DeGabrielle as chief operating officer, and Nancy Huber was promoted to CFO.

The stock was down 1.09% at $2.73 at the time of publication Monday. 

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