As the hemp and marijuana industries continue to see growth across the U.S. in the wake of increasing legalization and decriminalization, companies such as Curaleaf Holdings (CSE: CURA; OTCQX: CURLF) are engaged in hiring sprees both at the front-line employee level and on the executive side of operations.
Today Curaleaf announced two new executive appointments that will impact the base company as well as Curaleaf Hemp, a spinoff that focuses on CBD tinctures and topicals for human consumption in addition to CBD drops and cookies for pets.
Effective immediately, these two new team members have joined the Curaleaf management structure:
- Senior Vice President of Compliance — Troy Morgan (formerly Head of Compliance for Sanofi-Genzyme’s Rare Disease Division)
- President of Curaleaf Hemp — Dave Johnson (formerly of PepsiCo’s Frito – Lay Division)
While Dave Johnson oversees expansion of retail operations following the 2018 Farm Bill causing an explosion of CBD popularity, it’s the former SVP of Compliance role that could have the largest impact on the company.
Bringing on high-ranking compliance officers to oversee operations has become increasingly important to the still-growing cannabis industry in the wake of Canadian companies like CannTrust and Bonify running afoul of licensing rules.
While cannabis legalization rules are different in the U.S., multi-state operators such as Curaleaf have to navigate an array of wildly different regulations that shift from state to state as cannabis remains illegal at the federal level.
Discussing the recruitment of Dave Johnson to drive hemp-based product sales and Troy Morgan to oversee company wide compliance, Curaleaf CEO Joseph Lusardi issued this statement:
In other recent company news, Curaleaf expanded into Arizona last month through a cash and stock deal to acquire Glendale Greenhouse and Phytotherapeutics Management Services. Those acquisitions see the company gaining both a new indoor grow facility / extraction lab as well as two additional dispensaries.
The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Grizzle hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.