Jay-Z’s Cannabis Organization, The Parent Company, Hires 1st Black CEO To Head A Major Public U.S. Cannabis Brand

Jay-Z’s Cannabis Organization, The Parent Company, Hires 1st Black CEO To Head A Major Public U.S. Cannabis Brand

Jay-Z’s cannabis business, The Parent Company, is making history while taking huge steps forward. The Parent Company announced earlier this week that well-versed business executive Troy Datcher will be the company’s new chief executive officer. According to reports, this makes Datcher the first black CEO to head a public cannabis organization based in America. Datcher will be starting his new position at The Parent Company on September 8.

Chairman of The Parent Company, Michael Auerbach, spoke on the organization’s new historic hire and said,

“[Datcher] brings a wealth of invaluable experience driving high-volume sales, implementing growth strategies, and a deep-seated knowledge of strategic brand execution. His leadership expertise and perspective gained at such a prominent and enduring organization will be a significant advantage as we look to build the first 100-year company in cannabis, meet evolving consumer demands, and create meaningful change in our industry.”

Datcher also recently spoke on his new role.

“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. Together, we can shape a legal cannabis industry that is reflective of our entire culture in California and beyond.”

Datcher is an Alabama native. He spent 20 years working at The Clorox Company before joining Jay-Z’s company. Datcher will be taking over for the current CEO Steve Allan, who will continue with the company and assist with the transition.

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[VIA]