Reshuffling at New York OCM
Amidst a wave of transitions at the New York Office of Cannabis Management (OCM), four senior officials, including the Deputy Director of Licensing, Director of Health and Safety, and General Counsel, decided to vacate their positions. This shake-up followed the dismissal of the former OCM head by Governor Kathy Hochul after an internal review.
New Leadership at Connecticut’s SEC
Connecticut Social Equity Council welcomed a new executive director, Brandon McGee, signaling a fresh chapter for social equity initiatives in the state’s recreational marijuana market. McGee’s appointment comes on the heels of significant efforts by the council to drive equitable practices in the cannabis sector.
CEO Transitions at Cannabis Titans
In the realm of cannabis giants, Canopy Growth Corporation and Curaleaf Holdings, Inc., witnessed significant leadership changes. Canopy’s CEO, David Klein, announced his upcoming retirement, sparking a search for a successor. Meanwhile, Curaleaf named Boris Jordan as its new CEO, ushering in a transformative era for the company.
Verde Financial Solutions Inc., known for its innovations in payment processing for the cannabis industry, appointed Crystal K Morris as its new CEO, bolstering strategic growth prospects after a notable leadership shift due to ethical considerations. This move underscores the company’s commitment to upholding robust corporate governance.
Village Farms International, Inc. affirmed its commitment to stability by extending its president and CEO, Michael A. DeGiglio’s tenure. This extension signifies confidence in DeGiglio’s leadership and a dedication to continuity in the company’s strategic direction.
Recent Evolutions in Cannabis Boards
Across various cannabis corporations, board dynamics witnessed transformations, with key figures stepping into new roles. AYR Wellness Inc., Aurora Cannabis Inc., Agrify Corporation, SNDL Inc., Organigram Holdings Inc., and Rubicon Organics Inc. all saw shifts in their board compositions, signaling a broader trend of recalibration in corporate governance across the cannabis landscape.
Notable additions, such as Florida-based Sunburn’s appointment of Poseidon’s co-founder Emily Paxhia to its board of managers, highlight a strategic focus on diverse leadership perspectives in navigating the ever-evolving cannabis industry.
Furthermore, the appointment of experienced professionals like Cia Buckley Marakovits as an advisor to Healing Realty Trust underscores the industry’s maturation and the growing intersection of cannabis and emerging psychedelic therapies.
Moreover, the elevation of Charles Patti, Chief Brand Officer and Co-Founder of MY Self Wellness, to the board of directors of Noonautics, a nonprofit dedicated to exploring breakthrough discoveries in the psychedelics space, exemplifies the industry’s drive towards innovation and consciousness exploration.