Industry Update: Top Chief Financial Officers in Cannabis Right Now
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These cannabiz heavy hitters deserve these top executive spots in the booming marijuana industry. Check them out:
Charlotte Web Chief Financial Officer Russell Hammer
One of the leaders in the CBD extract products industry is a company called Charlotte Web. The company has just recently hired a new chief financial officer by the name of Russell Hammer back in August 2019. Russell Hammer is more than qualified for the position he has over 30 years of experience in the finance industry that includes in the realms of retail, technology, and tourism. Since Charlotte's Web has become a publicly traded company they need a chief financial officer with this type of experience and expertise.
Russell Hammer's most notable position was with the Brown Shoe Company. He was also the chief financial officer for the company. He helped the company to reach an average of 2.5 billion dollars in annual sales.
Cannadescent Chief Financial Officer Tom DiGiovanni
Tom DiGiovanni is the chief financial officer of a cannabis company by the name of Cannadescent. He is an experienced chief financial officer and is accustomed to dealing with balance sheets and bank statements. This is still the same to a degree in the marijuana industry but it differs some because now he has started to transport large amounts of cash to the bank for deposit. He also is getting accustomed to transporting these large amounts of cash accompanied by armed bodyguards. Before Tom DiGiovanni became the chief financial officer of Cannadescent he was an accountant at Ernst & Young.
He states that when he makes his monthly deposits to the bank that he usually deposits at least 2 million dollars in cash. He also states that just for a marijuana business to open an account at a bank or credit union they have to pay incredible fees.
One Cannabis Chief Financial Officer Frank Knuettel
This company is one of the biggest marijuana businesses in the United States. The company operates on a multi-state level. It is in the industry of the production of marijuana and the retail marijuana. The company has just named a brand new chief financial officer by the name of Frank Knuettel. The focus behind appointing Frank Knuettel as the chief financial officer is because he has vast experience in finance and the company hopes this experience will help them to bring a better retail experience to their marijuana customers.
Before Frank Knuettel joined the company he held the chief financial officer position at a few other companies and they are MJardin Group, Aqua Metals, and IP Commerce, INC.
Surterra Wellness Chief Financial Officer Fareed Khan
Surterra Wellness is an up and coming marijuana company that is located in Atlanta, Georgia.This company is growing fast and has shown this by making a power move in its upper management. The company has just hired ex Kellogg chief financial officer Fareed Khan as their own chief financial officer. Fareed Khan is leaving a Fortune 500 company to join a marijuana company. This speaks volumes on the potential growth of the marijuana industry.
This is actually the third Kellogg executive to leave the company for the marijuana industry.