Cannabis Movers & Shakers: Jay-Z-Backed The Parent Co. Appoints First Black CEO In Major Public Cannabis Company, CannaSafe, HEXO And Delta 9 Each Announce New Appointments

CannaSafe's CEO Departure, New Management Team Appointed Amid Reorganization

Cannabis testing laboratory CannaSafe announced Monday that CEO Aaron Riley will leave the company to pursue testing ventures in emerging markets as part of the company's reorganization.

Riley will continue to build out Oregon and Florida locations under a new entity.

"After 5 years at CannaSafe, I have decided to move on to my next venture in the testing space," Riley said. "I will be working on a continuation of early personal investments in a facility in Orlando and look forward to breaking into the growing Florida market."

Based in Van Nuys, California, the company has appointed three new members to the leadership team.

Bill Scrogins and Greg Balotin will become owners through the reorganization, while Gerry Dabkowski will be appointed as the new CEO.

Antonio Frazier and Ini Afia are going to continue serving as president and chief science officer.

CannaSafe intends to bolster its services with a more robust offering of testing and research in the coming months.

HEXO Corp Names Valerie Malone CCO, James McMillan Steps Down As CDO

HEXO Corp HEXO HEXO is expanding its leadership team by hiring Valerie Malone as a chief commercial officer.

Malone has over two decades of experience in managing businesses in consumer packaged goods, technology & electronics as well as durable goods.

During her career, Malone held leadership roles in a number of high-profile organizations such as PepsiCo Canada, Whirlpool Corporation, LG Electronics and Lixil.

“Valerie will support HEXO’s future growth as we accelerate on the path towards becoming a top-three global cannabis products company and continue to generate value for our shareholders,” Sebastien St-Louis, the company’s CEO and co-founder said.

Simultaneously, the Ottawa-based company announced that James McMillan, HEXO's CDO,

agreed to step down from his role.

Delta 9 Taps David Kideckel As VP and Head Of Strategy, Corporate Development And Capital Markets

Delta 9 Cannabis Inc. DN DLTNF has appointed Dr. David Kideckel, Ph.D., MBA, to serve as executive vice president and head of strategy, corporate development 

and capital markets.

Kideckel brings nearly two decades of combined industry and capital markets experience.

Prior to this, he served as managing director and senior institutional equity research analyst at ATB Capital Markets.

He also held several senior healthcare executive roles, including at Johnson & Johnson Inc. JNJ and Alexion Pharmaceuticals, which AstraZeneca AZN acquired.

“David was one of the leading cannabis analysts and has an exceptional network of contacts with an in-depth knowledge of the cannabis industry and its subsectors,” said John Arbuthnot, CEO of Delta 9. “David’s appointment reflects our commitment to having best-in-class talent to advance the Company’s growth trajectory strategically and expeditiously.”

The company announced its latest earnings report on Monday, revealing net revenue of CA$16.75 million ($13.3 million) for the second quarter, representing an increase of 29% from the same period last year and 27% from the first quarter of 2021.

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

TPCO Holding Corp. GRAMF, which does business as The Parent Company, announced Monday that it has tapped Troy Datcher as its new CEO, effective September 8, on the heels of opening its latest DELI by Caliva location in Hanford, California.

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

During his career, Datcher 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. Several years later, 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.

Datcher called The Parent Company "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," Datcher added.

In addition, The Parent Company announced that its current CEO, Steve Allan, will continue with the company and assist with the leadership transition.

Photo: Courtesy of David Gabrić on Unsplash