The Parent Company Names New CEO
California-based cannabis firm The Parent Company (TPCO), which owns Caliva and Left Coast Ventures, has named former Clorox Company executive Troy Datcher as its new CEO.
Datcher, who spent more than 12 years with The Clorox Company, most recently serving as chief customer officer, is said to be the first Black CEO to lead a major publicly traded U.S. cannabis firm.
"I'm truly honored to be at the forefront of shaping the future of the cannabis industry with The Parent Company," Datcher said via a news release. "This is a tremendously strong company that is poised for continued growth, and we have a unique opportunity to disrupt a sector that has disproportionately impacted communities of color — including my own — for far too long.”
Datcher will take over as CEO of TPCO, which counts hip-hop mogul Shawn “Jay-Z” Carter as its chief visionary officer, on Sept. 8.
Current CEO Steve Allan, the former president and CFO of Caliva, will remain with the company and help with the leadership transition, according to the release.
The executive announcement came on the same day that TPCO reported 18.9% quarter-over-quarter net sales growth to $54.2 million in Q2.
In May, TPCO named Roc Nation CEO Desiree Perez to its board of directors.
Additional information is available in the releases linked below.