TPCO Holding Corp. - The Parent Company (OTCQX:GRAMF, NEO:GRAMU) - has said Troy Datcher will be appointed to serve as the company's new chief executive officer with effect from September 8, 2021.
The company noted that Datcher's historic appointment represents the first time a Black CEO will lead a major public US cannabis organization. Current CEO Steve Allan will continue with the company and assist with the leadership transition, it added.
Datcher joins The Parent Company from The Clorox Company (NYSE:CLX), where he most recently served as senior vice president and chief customer officer responsible for the company's worldwide sales organization. During his tenure, Datcher deployed global sales plans for over $6.7 billion in annual revenue across The Clorox Company's vast portfolio of brands.
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In a statement, Datcher commented: "I'm truly honored to be at the forefront of shaping the future of the cannabis industry with The Parent Company. 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.
"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."
The Parent Company noted that Datcher first joined The Clorox Company in 1999 as a region sales manager for the Specialty Division before assuming a leadership role for the company's automotive business. In 2006, he joined JTG/Daugherty Racing, where he spent three years as the Director of NASCAR Sponsorship and Marketing for the organization before returning to The Clorox Company in 2009. Prior to his combined 20-year tenure at The Clorox Company, Datcher served as national sales account manager at The Procter & Gamble Company.
"On behalf of our Board and employees, I look forward to welcoming Troy to lead our organization into its next chapter of growth," said Michael Auerbach, chairman of The Parent Company.
"Troy brings a wealth of invaluable experience driving high-volume sales and 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."
"Troy's business acumen, strategic thinking and leadership skills are invaluable qualities that will be critical to our organization's growth," added The Parent Company chief social equity officer and board member Desiree Perez.
"He understands and embraces the unique responsibility we have to redefine the cannabis industry and establish a new precedent for cannabis entrepreneurs to build successful businesses. I look forward to watching him grow into this position and taking The Parent Company to new heights."
The Parent Company saidf Datcher brings a passion for elevating diversity, equity and inclusion efforts to the forefront of corporate culture to his latest appointment. He is a two-time Ebony Magazine Power 100 honoree (2015 and 2020) and has also been recognized by Savoy Magazine as one of the top 100 Black Executives for three consecutive years.