Cresco Labs (CSE: CL) (OTCQX: CRLBF) - Investor Dashboard
|Market Focus:||United States|
|Employees:||~3500 as of Jan 2022|
Cresco Labs – Management Team
CEO & Co-Founder
Named one of the top 100 cannabis industry leaders by Entrepreneur magazine, Charlie Bachtell has spearheaded Cresco Labs’ organic growth and acquisition strategies to build the most strategic geographic footprint and leading distribution platform in the North American cannabis market. An attorney by training and the former Executive Vice President and General Counsel for one of the largest mortgage banks in the country, Guaranteed Rate, he is recognized today as one of the foremost authorities on regulatory affairs and compliance in heavily regulated industries. Charlie is the current Chairman of the National Cannabis Roundtable.
Co-Founder and Director
Prior to co-founding Cresco Labs, Robert Sampson had over 20 years of operating experience in large corporations, including 12 years in the heavily regulated mortgage industry serving as Chief Operating Officer at Guaranteed Rate. As the former Chief Operating Officer of Cresco Labs, he oversaw the construction of two 40,000 sq. ft. cement precast structures and one 30,000 sq. ft. hybrid greenhouse and was responsible for all facility operations and systems. Robert is currently the CEO of Bemortgage based in Chicago.
Chief Financial Officer
Dennis Olis brings an extensive background in operations, financial planning and analysis, accounting, financial reporting, tax, internal audit, treasury, and mergers and acquisitions from previous positions at Allscripts and Motorola Inc. At Allscripts Healthcare Solutions as CFO, he led the $185 million acquisition of McKesson’s healthcare business, increasing revenue by $400 million and the integration effort leading to EBITDA improvement of $100 million within 15 months of the acquisition.
Chief People Officer
Angie Demchenko is responsible for overseeing all aspects of human resources, its practices and operations to meet the needs of the constantly evolving business. Previously, she served as Vice President, Head of Human Resources for Starwood Retail Partners, the retail real estate arm of Starwood Capital Group and a leading operator of shopping malls and lifestyle centers. In addition, she was the Vice President, Human Resources for General Growth Properties, one of the largest shopping mall owners in the U.S. prior to its acquisition by Brookfield Property Partners, and Senior Vice President, Human Resources for Jones Lang LaSalle, a Fortune 500 commercial real estate services firm.
Chief Operating Officer
Ty Gent joined Cresco Labs with more than 35 years of CPG and supply chain leadership experience. As COO, he is responsible for operational consistency and efficiency across markets and implementation of structural enhancements to facilitate scaling. Previously, he was the Chief Supply Chain Officer at US Foods. He also worked at PepsiCo for 30 years in various executive management positions. He led end-to-end supply chain operations for PepsiCo foods in South and Central America as the Senior Vice President of Operations. As Senior Vice President of Logistics, he steered the PepsiCo transportation network for North America and the warehouse delivery network for Quaker, Gatorade and Tropicana brands divisions within PepsiCo’s North America Beverage Sector.
Chief Commercial Officer
Greg Butler brings to Cresco Labs a strong background of driving brand growth for top-tier CPG companies including Pfizer, Johnson & Johnson and Molson Coors, wellness retail execution for Walgreens, and business growth and capital management strategic advising for leading private equity portfolio companies. As CCO, he is responsible for demand and commercial strategic planning, bolstering Cresco Labs’ sales and marketing teams with top talent, leading the launch of all new products and innovation, brand M&A and integration, and driving enterprise strategies to deliver on the company’s vision to be the most important cannabis company in the U.S. among patients, customers, consumers and industry stakeholders. At Molson Coors, he led the iconic Miller Family of brands, a $2 billion portfolio, overseeing more than $225 million in annual spend and delivering 13 consecutive quarters of market share growth within the competitive American beer category.
Chief Communications Officer
A seasoned communications strategist, Jason Erkes joined Cresco Labs’ leadership team in 2018 after serving as a consultant since the company’s inception in 2013. He is responsible for directing the company’s internal and external communications and strategy. He has been a journalist, political advisor, entrepreneur, influencer, turnaround expert and philanthropist throughout his career. In 2020, he was named one of the Top 10 Most Influential Communications Professionals to Watch in Cannabis by Green Market Report.
John Schetz oversees all legal affairs for Cresco Labs, including mergers and acquisitions, capital markets transactions, securities reporting, corporate governance, licensing, compliance, litigation and commercial agreements. Previously, he served as Executive Vice President, General Counsel and Secretary of Stericycle, Inc., a multi-billion dollar publicly traded global business services company. He led more than 70 acquisitions, including the company’s $2.3 billion acquisition of Shred-it, created the company’s in-house legal department and global ethics and compliance function, and engineered a highly favorable settlement of enterprise-threatening class action litigation. Prior to Stericycle, he was a partner in the Corporate Department of McDermott Will & Emery LLP in Chicago.
Executive Vice President, SEED
In May 2019, Cresco Labs created the Social Equity & Educational Development initiative (SEED) to address the absence of people, businesses and communities disproportionately impacted by the War on Drugs in the cannabis industry. Chima Enyia is responsible for shaping and driving SEED’s organizational vision and strategy focused on restorative justice, community business incubator and education and workforce development programming. Previously, he served as the Executive Director of the Illinois Liquor Control Commission (“ILCC”). In this role, he created and drove the organizational vision, strategy and policy for all ILCC operations, such as licensing, legal, enforcement, industry education and legislative affairs. In addition, he partnered with the ILCC’s board of directors to champion diversity, equity and inclusion efforts.
Executive Vice President, Government Affairs
John Sullivan manages Cresco Labs’ government relations, public affairs, social justice and community integration functions, regularly interfacing with state legislators, regulators, advocates and community leaders. Prior to joining Cresco Labs, he served as the President of an Illinois cannabis company, overseeing all functions including the day-to-day operations of its two dispensaries located in the city of Rockford and the Wrigleyville neighborhood of Chicago. In a former position, he established Standard Operating Procedures for Illinois dispensaries to ensure regulatory compliance. Before entering the cannabis industry, Mr. Sullivan spent many years as a public and private practice lawyer. In addition, he was the First Assistant Commissioner at the Board of Review, the Illinois regulatory agency that adjudicates all Cook County and Chicago property tax appeals.
Significant Insider Ownership
Charles Bachtell, CEO:
15.7 million shares
Joe Caltabiano, Former President:
17.6 million shares
Dominic Sergi, Director:
11.3 million shares
Robert Sampson, Director:
13.1 million shares
Randy Podolsky, Director:
1.0 million shares
Gerald Corcoran, Director:
1.0 million shares
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