Breaking: Jay-Z-Backed The Parent Co. Appoints First Black CEO In Major Public Cannabis Company, Troy Datcher

TPCO Holding Corp. GRAM GRAMF, which does business as The Parent Company, announced on Monday that it has appointed Troy Datcher to serve as the Company's new CEO, effective Sept 8th.

Datcher's historic appointment represents the first time a Black CEO will lead a major publicly traded U.S. cannabis organization.

"I'm truly honored to be at the forefront of shaping the future of the cannabis industry with The Parent Company," Datcher said. 

"This is a tremendously strong company that is poised for continued growth and we have a unique opportunity to disrupt a sector that has disproportionately impacted communities of color – including my own – for far too long. This is a chance to partner with cultural powerhouses like JAY-Z and Desiree Perez to rectify the wrongs of prohibition, eradicate antiquated laws and create a new cannabis infrastructure rooted in diversity, equity and justice for our communities. Together, we can shape a legal cannabis industry that is reflective of our entire culture in California and beyond."

The Parent Company's current CEO Steve Allan will continue with the company and assist with the leadership transition.

Datcher's Vast Business Background

Datcher, who worked at the Clorox Company CLX starting in 1999 as senior vice president and chief customer officer responsible for the company's worldwide sales organization, deployed global sales plans for over $6.7 billion in annual revenue across Clorox's portfolio of brands. In 2006, he joined JTG/Daugherty Racing, where he spent three years as the Director of NASCAR Sponsorship and Marketing for the organization before returning to The Clorox Company in 2009. 

Michael Auerbach, chairman of The Parent Company said he, the board and the employees look forward to welcoming Datcher as CEO. 

"His leadership, expertise and perspective gained at such a prominent and enduring organization will be a significant advantage as we look to build the first 100-year company in cannabis, meet evolving consumer demands, and create meaningful change in our industry," Auerbach said.

Photo courtesy of The Parent Company

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