Empty Rhetoric Or Genuine Progress? Tiffany Woodman Challenges Cannabis Companies On Women's Equity

"Why are you so comfortable with a woman leading your company but not giving her even 2% of that company?" asked CEO and founder of Canna Bella Lux's Tiffany Woodman, a renowned figure in the cannabis industry, during her recent address at the Benzinga Cannabis Capital Conference in Miami.

Woodman's challenge to the industry cut straight to the heart of the ongoing issue of gender equity in business leadership, particularly in the emerging and rapidly expanding cannabis sector.

The cannabis industry, Woodman suggested, has been more vocal about the need for diversity in its upper echelons, including the C-suite. However, she's noticed a troubling trend. "Everyone says that they’re woman-led, and I’m finding this a really interesting trend that I have started seeing in articles, in companies, and bios," she said. But despite this apparent move toward inclusivity, Woodman expressed skepticism about the actual extent of progress.

"Why are you not giving her equity?" she questioned, highlighting a persisting issue where women are appointed to high-profile roles, but without substantial financial stakes in the companies they lead. "So what I’m finding is it’s really fun to have the woman lead your company, be the director or the VP, but they still are not making the big decisions where the money happens."

Despite the challenges, Woodman highlighted positive strides within the industry. She recounted an interaction with Jessie Casner from Flora Growth Corp. FLGC. "I met her four years ago at Vessel and we were in this little marketing meeting... And now she’s the CMO, which is a huge deal." Casner's progress, Woodman said, represented a tangible change in the right direction.

If you want to talk more about equity in the cannabis industry, join us at the Benzinga Cannabis Capital Conference in Chicago on September 27 and 28. Get all the info on bzcannabis.com

"Diversity in C-suites matters. Yet, it's baffling that companies are comfortable with women leading but hesitant to give them equity"@thecannabella at the @Benzinga Conference
cc. @floragrowthcorp
Join us in Chicago, Sept 27-28 - https://t.co/CxznNV79H5 #ChangeTheNarrative pic.twitter.com/n0jRBwQwrc

— Javier Hasse (@JavierHasse) July 17, 2023