Notable Departures from New York’s Office of Cannabis Management
In a noticeable turn of events in late July, New York Governor Kathy Hochul ousted Chris Alexander, the former head of the state’s Office of Cannabis Management (OCM), amid an internal review. Subsequently, several high-ranking officials, including Deputy Director of Licensing Danielle Holmes, Director of Health and Safety Nicole Rosa, First Deputy General Counsel Patricia Piskorski Heer, and General Counsel Linda Baldwin, announced their resignations or impending departures, as confirmed by Syracuse.com.
A month prior, Hochul and NYC Mayor Eric Adams lauded efforts to eradicate illicit cannabis sales in New York, with reports of over 1,000 illegal cannabis stores shuttered statewide, out of which 779 were in New York City.
New Leadership Appointment at Connecticut’s Cannabis Social Equity Group
Connecticut’s Social Equity Council (SEC), overseeing social equity initiatives in the state’s recreational marijuana market, welcomed Brandon McGee as its new executive director. McGee, with prior involvement in Governor Ned Lamont’s re-election campaign in 2022, succeeded Ginne-Rae Clay, as reported by Marijuana Business Daily via CT Insider.
Revolving Doors in CEO Positions at Canopy and Curaleaf Along With a Slew of Executive Changes
A significant shift occurred in the Canadian cannabis landscape as Canopy Growth Corporation’s CEO, David Klein, earlier this year announced plans for retirement by March 31, 2025, instigating a search for his successor. Meanwhile, Curaleaf Holdings, Inc. appointed Boris Jordan as its new CEO, succeeding Matt Darin, who plans for a phased retirement.
Furthermore, Verde Financial Solutions Inc. saw the appointment of Crystal K Morris as CEO following the removal of Cameron Binion due to ethical concerns. Village Farms International, Inc., secured contract extension for its President and CEO Michael A. DeGiglio. August saw Mario Pinho join MariMed Inc. as the Chief Financial Officer, bringing in a wealth of experience.
Recent Alterations in Cannabis Board Compositions
AYR Wellness Inc. witnessed Jonathan Sandelman stepping down from his directorial role, subsequently seeing Louis Karger assuming the position of Chairman. At Aurora Cannabis Inc.’s shareholders’ meeting, key board members were elected, infusing fresh leadership perspectives. Similarly, Agrify Corporation re-elected key members to its board during their annual stockholder meeting. SNDL Inc. shareholders finalized a six-member board at their annual meeting, electing prominent individuals to serve.
Finally, Organigram Holdings Inc. bolstered its board with the inclusion of Craig Harris, a seasoned legal professional, in late July.
Shifting Sands in Corporate Leadership
Boardroom Evolution
As the tides of corporate dynamics ebb and flow, the sands beneath the boardroom chairs shift, welcoming new faces and bidding adieu to familiar figures. The recent reshuffles in various corporations reflect the winds of change blowing across the business landscape.
New Directors, New Directions
At Rubicon Organics Inc.’s annual meeting in July, shareholders set the course by electing a cadre of eight directors. Among them are industry stalwarts Margaret Brodie, John Pigott, and Michael Detlefsen. This decision marks a strategic juncture for the company, poised for growth and innovation under fresh leadership.
A Fresh Perspective
Sunburn, a Florida-based cannabis operator, unveiled a coup in its boardroom with the appointment of Emily Paxhia, co-founder of Poseidon, as a new board member. This move heralds a symbiotic relationship as Sunburn gains from Paxhia’s strategic acumen while Poseidon solidifies its stake in the burgeoning cannabis market.
Resignation and Retention
Vext Science, Inc. witnessed a change in its board hierarchy as Jason Thai Nguyen stepped down from the chairman position but retained his director role. This transition underscores the fluid nature of boardroom dynamics, where strategic recalibration often signals a new chapter for the company.
A Visionary Addition
Healing Realty Trust, known for its innovative real estate investment approach, bolstered its advisory team by appointing Cia Buckley Marakovits, a luminary in the real estate sector. Marakovits’ tenure promises to usher in a new era of growth and diversification for the company, leveraging her wealth of experience in the industry.
Exploring New Horizons
Charles Patti, Chief Brand Officer of MY Self Wellness, has embarked on a new journey as a board member of Noonautics, a nonprofit dedicated to advancing consciousness through psychedelic research. Patti’s involvement signals a synergy between the realms of wellness and innovation, propelling both organizations towards groundbreaking discoveries in the psychedelics space.