Top Cannabis Industry Leaders Who Took The Reins In 2023

In 2023, top executives in the cannabis industry continued to play a pivotal role in shaping the future of the rapidly growing market.

These executives championed sustainability, social responsibility and inclusive business practices on the path to creating a more diverse and equitable cannabis industry. Their leadership contributed to the normalization of cannabis, driving mainstream acceptance and reshaping public perceptions.

Humble & Fume Inc. HMBL HUMBF, kicked off 2023 by naming Jakob Ripshtein as its new CEO. He replaced Joel Toguri. Under Ripshtein's guidance, the company reported positive financial results for the full year of 2023. The company plans to intensify its efforts in the California cannabis sector going forward.

In February, cannabis social media platform WeedTube elected Maggie Adair as its new CEO. Adair, a graduate of George Washington University with degrees in Communications and Political Management, has had a successful career in the political realm of Washington D.C., working for top political officials in media, campaigns, and the tech field.

Cannabis multi-state operator MariMed.'s MRMD MRMD board of directors tapped Edward Gildea to serve as their chairman and Jon Levine as CEO in March. Levine, the company’s co-founder and president, who was one of the speakers at April’s Cannabis Capital Conference. Levin took over as interim CEO after the untimely death of co-founder, chairman and CEO Bob Fireman. The company, one of analyst's favorite stocks closed a $58.7 million secured credit facility with a U.S. chartered bank in November and is now expected to "generate significant cash savings."

July was a busy month in the cannabis sector with several companies naming new CEOs:

• Sabas Carrillo agreed to lead the California-based cannabis producer Unrivaled Brands, Inc UNRV;
• iAnthus Capital Holdings, Inc. IAN ITHUF appointed Richard Proud as CEO and the board’s director;
• PharmaCielo Ltd. PCLOF PCLO the Canadian parent of Colombia’s premier cultivator and producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S. named Marc Lustig as chairman and CEO;
• MedMen Enterprises Inc. MMEN MMNFF appointed Ellen Deutsch as CEO; and
• Flora Growth Corp. FLGC tapped Clifford Starke to serve as CEO.

In September, Charlotte’s Web CWBHF CWEB tapped William Morachnick as CEO, succeeding CEO Jacques Tortoroli, who resigned from his roles at the Colorado-based company.

Cannabis veteran executive Gary Santo agreed to assume the CEO role at RX Green Technologies in October, replacing Wes Matelich. Cannabis-focused commercial real estate finance company AFC Gamma, Inc. AFCG wrapped up the month by tapping industry veteran Daniel Neville as its new CEO.

In November, the governmental cannabis retail monopoly in the Canadian province of Quebec, the Société québécoise du cannabis (SQDC) named Suzanne Bergeron as its new president and CEO. Cannabis vape producer The Blinc Group promoted Pete Sahani, the company's COO since 2022, to CEO a month ago.

This week, Kaival Brands Innovations Group, Inc. KAVL announced that it has expanded the role of Barry M. Hopkins, executive chairman, to include the positions of interim CEO and president.

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