Executive Changes In Marijuana Industry You Should Know About, New Cannabis Appointments & More

As the 19th Benzinga Cannabis Capital Conference returns to Chicago (Oct. 8-9), gathering top CEOs, investors and leaders in the marijuana industry, let’s scroll through the latest leadership changes in the space. (Get your tickets now before the prices go up by following this link.)

Slightly over a year following Gov. Dan McKee's decision to appoint three experts to the Cannabis Control Commission with a task to regulate, license and control the medical and recreational cannabis markets in Rhode Island, the agency is about to get a leader.

One of Oklahoma's top cannabis regulators Michelle Reddish is nominated by Gov. McKee to become Rhode Island's first cannabis administrator.

Reddish, who would receive an annual salary of $162,270, is tasked with reporting directly to the three-member panel, praised the move. “I am eager to build strong partnerships across the state in support of safe and equitable access to cannabis," Reddish, who currently serves as the chief operating officer at the Oklahoma Medical Marijuana Authority (OMMA), said.

Cannabis Board Changes

In the meantime, nearly a dozen either cannabis companies or businesses related to the plant saw board changes recently.

Two former members of the board of Canadian cannabis giant Canopy Growth Corporation WEED CGC, Judy A. Schmeling and William A. Newlands are nominated to serve on the board of Constellation Brands. Recently, Greenstar Canada Investment Limited Partnership and CBG Holdings LLC, each a wholly-owned subsidiary of Constellation Brands Inc exchanged all 17,149,925 common shares in the capital of Canopy for no consideration. They collectively held 17,149,925 exchangeable shares. That move enabled the acceleration of Canopy’s entry into the U.S. THC market, which is forecasted to reach roughly $50 billion in 2026, the company said on Monday in a press release.

In mid-May, another Canadian cannabis giant, Aurora Cannabis Inc. ACB ACB, appointed Rajesh Uttamchandani to its board of directors. Uttamchandani brought to Aurora a vast experience as a current and past director for private and public organizations, including LifeSpeak, Ontario Cannabis Stores, Mackenzie Health, and several not-for-profit organizations.

KEY Investment Partners LLC, which connects investors to attractive private cannabis opportunities, recently expanded the firm's advisory board with two new members, David Culver and Eula Adams.

California-focused, vertically integrated cannabis company, StateHouse Holdings Inc. STHZ STHZF tapped Felicia Snyder to serve as independent chair of the board of directors of the company, replacing Matthew K. Hawkins.

SHF Holdings, Inc. which is doing business as Safe Harbor Financial SHFS appointed its CEO, Sundie Seefried as a member of the board in April.

Akanda Corp.'s AKAN board of directors welcomed Christopher Cooper to its ranks in April following the resignation of Harvinder Singh as a director.

In May, Village Farms International, Inc. VFF said finance expert Carolyn Hauger has been appointed to its board of directors and will stand for election at the company's annual shareholders meeting in June 2024. This appointment came on the heels of the company's decision to expand its executive team in April, by naming Ann Gillin Lefever as COO, Paul Furfaro as president of global medical cannabis and John Harloe as general counsel at Global Cannabis.

Canadian cannabis producer The BC Bud Corporation BCBC BCBCF announced last month the addition of Cary Alexander, another finance expert, to its advisory board. The company also named Sean Flynn as its new chief commercial officer.

Earlier in May, Real Brands Inc. RLBD announced that it had added Richard J. Goldberg, MD, MS, to its board of directors. The company has entered into a consulting agreement with Dr. Goldberg for guidance and expertise in Real Brand’s new psychedelics research division that was launched in 2023.

Cannabis Bioscience International Holdings CBIH recently named John E. Jones as its new treasurer and director.

On Friday, Ascend Wellness Holdings, Inc. AAWH AAWH appointed Julie Francisto to its board of directors, effective June 3, 2024. Currently, Francis serves as a chief operating officer for The Schwan’s Company, a U.S.-based manufacturer and marketer of quality foods offered through retail grocery and food-service channels.

Two New CFOs & Other Appointments

Calgary, Alberta-based cannabis retailer High Tide Inc. HITI HITI 2LYA named Mayank Mahajan its new CFO in May.

Motif Labs, a brand house shaping Canada’s cannabis 2.0 market appointed in May two key executives to its financial leadership team – Jason Macintosh as the company’s first CFO, and Mohsin Iqbal as senior director of sales finance and insights.

Leafly Holdings, Inc. LFLY kicked off May by naming Peter Lee as president and chief operating officer, leading new monetization efforts, operations and corporate development while deepening partnerships with Leafly’s customers. He remained a member of the company's board of directors.

Avail Professional Services, a service provider in accounting, finance and capital sourcing to a variety of industries appointed Jason Nelson as CEO of its cannabis-focused Avail Ag Division.

Cannabis-oriented Fiorello Agency named Aaron Jones as managing director for its New York practice, and head of digital.